On December 12, 2006, Saigon Newport Company (SNP) had, upon making proper preparations, solemnly held the “Announcement Ceremony for the transformation of SNP into Holding Company”. Attended at the occasion were leaders from the Government, Ministry of Defence, the Vietnam People’s Navy, Authority of HCMC and neighboring provinces. Guests were also representatives of shipping lines, shipping agents, business enterprises, customers, partners, press and media. The transformation was implemented crucially by the permission of the Prime Minister in the Document No 342/TTg-DMDN and under the Decision No 82/2006/QD-BQP by the Minister of the Ministry of Defence.
The event was a significant turning point for SNP throughout nearly two decades during which the company had taken shape, expanded and thriven. Since its foundation on March 15, 1989, SNP could only handle some tens of thousands of teus. By the end of 2006, the annual throughput will have reached more than 1.4 mil teus with an impressive growth rate. Predictions for 2007 and 2008 indicate that SNP is bound to obtain 1.7 mil and 2.0 mil teus respectively, growing at 20% plus per year. Under the new scheme, more value added services will be offered as diversifications to meet the demands of customers. Following the transformation of SNP was the permission to extend business activities and fields of operations up to 15. Along with current services, SNP is given the rights to expand and develop the following: Real estate and office building; materials production; tankers transportation; petrol & oil agencies and multimodal transport.
It goes without saying the new organization will remarkably enhance competitiveness of SNP in the economic integration of Vietnam and at the same time, endeavor the company to promote trading business and assist port operations in Southern Vietnam, dramatically coming up with more developmental orientations, strengthen cooperative bonds and provide domestic and international business enterprises with preferential conditions as the country becomes the 150th member of the World Trade Center (WTO)
