Leaders of the Ha Noi Electromechanical Manufacturing JSC (HEM) launched its new brand identity on December 16. — Photo tienphong.vn

HA NOI (Biz Hub) — The Ha Noi Electromechanical Manufacturing JSC (HEM) introduced its new brand identity on December 16, to reaffirm its position as one of Viet Nam's leading electrical equipment production firms.

In his speech at the event, HEM chairman Nguyen Hoa Cuong said that Viet Nam is penetrating the global economy well. The new brand identity proves that the company is taking great efforts to revamp itself to adapt to the changes in the market economy.

HEM has set a goal of maintaining an average annual growth rate of more than 10 per cent during the next five years, Cuong said, adding that top priority will be given to fostering technical innovations to provide advanced electrical equipments to customers.

HEM's new brand identity. — Photo courtesy of HEM

The strengthening of co-operation with domestic and foreign partners and diversifying of products and business areas will also be included, he added.

Established in 1961, HEM has three major business areas: production of electrical devices such as electrical motors, generators and transformers; hotels and apartments for rent; and training and education. As of 2014, the company has a charter capital of more than VND322.55 billion (US$15 million), of which the State owns 65.84 per cent.

Currently, the company has a 35 per cent share in the domestic electrical equipment market. — VNS