Deputy Minister Dang Hong Duc inspects 19-5 Company

The session focused on comprehensive operations, business performance and strategic development orientations for the company.

Present at the meeting were also Director of the Security Industry Department Major General Luu Hong Quang as well as leaders from the Department of Equipment and Logistics, the Department of Planning and Finance, the Ministry’s Office, and Chairman and CEO of the 19-5 Company Senior Colonel Duong Manh Truong, along with members of the company’s Board of Directors.

During the session, CEO Duong Manh Truong reported on the company’s business result, saying that, as a reputable enterprise directly serving national defense and security, the 19-5 Company plays a core role in manufacturing police gear and garments for the Public Security Forces, as well as products for the commercial market. In recent years, the company has collaborated closely with the Department of Equipment and Logistics to research and develop product designs and uniforms, ensuring high-quality and timely support for the combat readiness of the entire Public Security Forces.

The company’s financial indicators show its consistent growth, with its revenue increasing by an average of 10% annually, 80% of which results from intra-sector specialized tasks. The average after-tax profit margin remains between 2.3% and 2.6%, ensuring the preservation and growth of its State-allocated capital. Despite the successes, the company representatives highlighted several bottlenecks hindering it from further development.

On behalf of the Security Industry Department, Major General Luu Hong Quang suggested that the Ministry leadership facilitate the expansion of the company’s headquarters and allocate more land and capital for the company to expand its factory so as to enhance its production capacity.

In his concluding remarks, Deputy Minister Dang Hong Duc acknowledged the company’s achievements, and acknowledged the proposals presented at the meeting. Regarding future tasks, he urged the company’s leadership to optimize their organizational structure, continuously raise its revenue and profits, and improve the livelihoods of its officers and workers.

The Deputy Minister approved the proposal to expand its factory space and production scale, and assigned the Security Industry Department and the company to select appropriate locations. He noted: "We should determine our current standing in the security industry and the wider Vietnamese garment industry so we can see that there is much room to improve."

To achieve the goal of double-digit growth in the time to come, the Deputy Minister directed the company to proactively seek new markets, such as producing uniforms for the prosecution and banking sectors. 

The Ministry has recently assigned the company the task of manufacturing uniforms for the grassroots-level security and order protection forces.

Furthermore, he suggested modernizing corporate governance, investing in advanced machinery, and recruiting or training a highly skilled labor force to meet the need of the Public Security Forces’ for specific products as well as of commercial markets for general products. 

He concluded by stressing that the under-ministerial departments should assist it in removing obstacles so that the 19-5 Company can develop sustainably, contributing positively to the security industry and ensuring double-digit growth by 2026.

Earlier, Deputy Minister Dang Hong Duc and the delegation visited and inspected the company’s production affiliates, namely the Chien Thang branch garment factory and the footwear production workshop and product display area of the Garment Mechanical Enterprise.