CEO says Sabeco affected by rumors of being sold to Chinese investor

CEO says Sabeco affected by rumors of being sold to Chinese investor

By Minh Tam

HCMC – Production and business activities of the Saigon Beer-Alcohol-Beverage Corporation (Sabeco) in 2020 were affected by Covid-19, the Government’s Decree 100 banning drunk drinking and rumors that the company has been sold to a Chinese investor, said Sabeco general director Bennett Neo.

At a press briefing in HCMC on January 18, Neo affirmed that Sabeco, which is a Vietnamese firm with a Vietnamese brand and has more than 99% of its employees being Vietnamese, had to adjust many activities, suspend unnecessary expenditures and focus on take-away services in 2020.

The firm also worked out more innovative and creative business activities to improve its competitiveness.

The salaries of its employees were ensured. However, the allowances were lower than they were in the previous years. In 2020, Sabeco prioritized ensuring employment for laborers, so no one lost their jobs.

At the press conference, Sabeco transferred more than VND4.2 billion to the Vietnam General Federation of Labor so that the federation could give it to 4,200 workers who have been severely hit by the pandemic in 32 localities across the country.

Earlier, Sabeco had supported the central provinces of Quang Binh and Quang Tri with VND1 billion during the historic flooding season.

The total VND5.2 billion was donated by enterprises and individuals in the “Rise with Vietnam” relay race held by Sabeco on the occasion of its 145th anniversary.