Patec Viet Nam Joint Stock Company (Vietnam)

The subject was established in 2012 in Ha Noi City, Vietnam. It specializes in trading semi-trailer and tractor truck. All products are imported from China, then are provided to the domestic market.According to Ms. Ngoc, the subject's accountant, thanks to skyrocketed domestic demand for semi-trailers and tractor trucks, the subject's sales soared in both 2020 and 2021. However, in the first half of 2022, China implemented a zero Covid policy, so the subject could not import goods for trading. Additionally, in that year, bank interest rates increased remarkably, which led to a decrease in purchasing demand. As a result, net sales fell by 23.76% to VND 738.9 billion in 2022. Next to 2023, the situation improved, total sales in the first ten months of the year reached over VND 700 billion, approximately the total sales of the whole last year, but business activities were slowing down in the last months of the year, so total sales for the whole year 2023 were expected to only increase slightly compared to 2022 and not equal to 2021, Ms. Ngoc said.