Gelex Electric Proposes Name Change to Expand into Industry and Technology

Gelex Electric, officially known as CTCP Điện lực Gelex (GEE), is seeking shareholder approval to change its name to CTCP Công nghiệp Gelex (Gelex Industries) as part of a strategic move to expand its business operations beyond electrical equipment. This proposal was announced in a resolution by the company's Board of Directors, reflecting a broader vision to engage in industrial, material, and technology sectors.

The name change aims to better represent the company's evolving business focus and align with its long-term development strategy. According to Gelex Electric, the current name does not adequately reflect its diverse activities and future direction. The Board emphasized that this change would enhance the company's brand recognition and position in the market.

“The current name does not adequately reflect our diverse activities and future direction.”Gelex Electric Board of Directors

In addition to the name change, Gelex Electric plans to broaden its business activities to include various information technology services, such as computer programming, IT consulting, and software publishing. The company also intends to engage in scientific research and development in technical and natural sciences, as well as additional activities like market research and patent brokerage.

Gelex Electric's expansion strategy aligns with global trends observed among leading industrial firms like Siemens and Schneider Electric, which emphasize technological innovation as a key competitive advantage. Deloitte noted that companies investing in research and development are better positioned to thrive in the industrial transformation era.

The company has been actively investing in technology and innovation, enhancing its production capabilities and product quality. For instance, Gelex Electric has developed a state-of-the-art production technology for copper rods and has introduced environmentally friendly products in its cable segment, receiving certifications from international standards.

“Companies investing in research and development are better positioned to thrive in the industrial transformation era.”Deloitte

Gelex Electric's efforts to diversify its operations come at a time when foreign direct investment (FDI) in Vietnam is surging. As of the third quarter of 2026, registered FDI in Vietnam reached $50.36 billion, a 76.4% increase compared to the previous year. This boom in investment reflects Vietnam's growing attractiveness as a destination for foreign capital, with the actual FDI disbursed also reaching $21.07 billion.

As Gelex Electric prepares to submit its proposal to shareholders, it is expected that this strategic shift will enhance its operational scope.