Long Phu Production Trading Company Limited (Vietnam)

Established in 2007 in Thanh Hoa Province, the subject specializes in manufacturing and trading steel Styrofoam roofing sheets, corrugated iron sheets, and related accessories for roofing sheets. Besides, it also trades rolled steel sheet, steel purlin, steel structure, steel pipe, box steel, shaped steel... Since Sep 2020, the subject strongly has increased the charter capital to VND 180 billion from VND 83 billion previously and shareholders have completely contributed capital in that year.In this investigation, we have an interview with Mr. Nghia, an accountant via his mobile phone (+84 942 868 238). Mr. Nghia shared that the subject mainly imported materials from China, Taiwan, and Malaysia. The subject also has imported chemicals for the production of cold corrugated iron sheets from South Korea. The market share of the firm is concentrated in Thanh Hoa, Ninh Binh, Ha Noi, Thai Binh, and Nghe An Province. Thanks to the stability in business operation and expansion in its scale, the subject's net sales in 2020 continued to increase by 13.05% although the pandemic has affected many companies in Vietnam. However, in the first eight months of 2021, the volume of finished products sold has decreased by about 50% compared to the same period in 2020 due to the serious outbreak of the pandemic and unfavorable weather (heavy rain), Mr. Nghia said.Also according to Mr. Nghia, due to a decrease in orders hence the subject had to reduce the labor resource, accordingly, the total number of employees of the firm has decreased to 80 people instead of 120 people (as early 2020). All most of the office staff currently work at the workshop in Tay Bac Ga Industrial Zone, Thanh Hoa City for transaction convenience and epidemic prevention. Therefore, there is no staff working in the head office.