ANNUAL REPORT 2020

Chairman’s message

First of all, on behalf of the Board of Management, the Board of Directors and all employees of Gemadept Corporation, I would like to express my sincere and deepest gratitude to all shareholders, customers, partners, authorities and stakeholders, who have always trusted, given Gemadept invaluable support and companionship during the past three decades.

“If you want to go fast, go alone; if you want to go far, go together”. Indeed, Gemadept was able to overcome many difficulties and challenges to go fast, go far, achieve the results and position in the market like today thanks to the companionship and faithful attachment to the Company from you all.

Thirty years is a long enough time to strengthen the will, capacity, belief and bravery of an enterprise. Starting business with three “No”, no capital, no land, no budget; All that Gemadept has is the aspiration and enthusiasm of the youth, the desire to build a prosperous life for the family, for the business, for the companions and more broadly, to contribute to promoting the economic flow of the country.

Opening the sea route, Gemadept deployed waterway transport services, connecting Vietnam's port system with the leading transshipment ports in the region. Opening inland connection, Gemadept is the pioneer enterprise to launch the inland port model (ICD) in Vietnam with the foundation of Phuoc Long ICD Port, a typical model that has been replicated in many provinces and cities throughout the country, and is an excellent seed for Gemadept today to reach out, own and operate a system of 8 ports from North to South. In the aviation industry, Gemadept became the first joint stock company to participate in the ownership and operation of the most modern air cargo terminal (SCSC) right in the heart of Tan Son Nhat International Airport. Opening the way for the Logistics "playground", Gemadept is a leading domestic enterprise exploiting an integrated supply chain in 6 different fields, serving millions of tons of goods every year.

Looking back on the past journey, the year 2020 has ended, the historical event called the Covid-19 pandemic has changed the world we live in, from personal adjustments to global changes. In that context, Gemadept quickly responded with a series of specific policies and actions to keep the Company safe and provide maximum support to customers and partners.

In the field of Port operation, facing the impacts of the pandemic, with the will to overcome obstacles, flexibility and best efforts, Gemadept has achieved the same throughput as in 2019. Notably, the Company has still ensured the completion progress of the project of Gemalink Deep-sea Port project. Right in the warm early spring days of 2021, the first commercial vessel, belonging to the maritime route connecting Vietnam - the United States, called at Gemalink Port in everyone's joy and pride. Gemalink officially put its name on the navigation map of the world.

Simultaneously, Gemadept has invested in expanding berths, invested in more modern cargo handling equipment and increased capacity for existing ports such as Nam Dinh Vu Port, Binh Duong Port, etc. With the stormy progress of the 4.0 technology revolution, Gemadept has been continuing to implement SmartPort and SmartLogistics projects, aiming to replicate the Green port model throughout the system.

In the field of Logistics, Gemadept continues to meet the needs of customers, providing integrated and comprehensive Logistics services along with solutions to optimize the supply chain of enterprises to minimize logistics costs, improve the competitiveness of enterprises in the market. In 2020, once again honored to lead the Top 10 Prestigious Logistics Companies, Gemadept has been and continues to motivate and inspire many domestic logistics enterprises, contributing to the creation of the Port and Logistics ecosystem of Vietnam.

Concerning business performance in 2020, despite the raging pandemic, the achievement of exceeding revenue and profit targets compared to the plan assigned by the General Meeting of Shareholders has proven the outstanding efforts of Gemadept and creating a strong driving force for the sustainable growth of the Company in the coming period.

The door of 2021 opens a new era of development, Gemadept is ready to overcome all challenges, synergize the strengths of the Company and its network of partners, and actively seize the opportunities of the country so that the strong footsteps continue to move forward for the bright colors of the country's flag to fly forever with faith and hope at the ports, warehouses and construction sites that Gemadept continues to build. All for the benefit of the country, businesses and those who accompany Gemadept.

On behalf of the Board of Management and the Board of Directors, I would like to wish you and your family good health, happiness and prosperity!

Chairman

Do Van Nhan