Vinaconex: Build Your Values, Inspire Your Dreams

Vinaconex: Build Your Values, Inspire Your Dreams

I met Mr Nguyen Van Tuan, Vinaconexs Chairman after his trip to Australia, taking part in the 15th APEC. He was pleased to talk about achievements of Vietnam's delegation, and development orientation to shift Vinaconex into a multi-business group in the region and the world.

Could you talk about achievements of Vietnam business delegation and Vinaconex when taking part in APEC 2007?

This is a successful trip. Vietnam has become APECCCCs member since 1998; there has been improvement in the relations between Vietnam and APEC on a large scale so far. The event that Vietnam hosted APEC 2006 and successfully held 14th APEC has raised this relation to a new height, helping Vietnam affirm its role in APEC. With that power and strength, the Vietnamese delegationnnns participation in 15th APEC was highly appreciated by international community, drawing great interest from world big investors and economic corporations seeking cooperation and investment opportunities in Vietnam.

Vietnamese business delegations trip including Vinaconex this time has achieved good results in many aspects. At Vietnam- Australia Business Forum, with the attendance of Vietnamese President Nguyen Minh Triet and Australian Minister of Trade, I signed a contract with WK Marble and Granite Company to export Vinaconex's high standard ashlars facing stones to Australian market. The project has total value of US$60 million in duration of 5 years.

Besides the official programs of the delegation, we took part in some bilateral meetings with financial investors, real estate companies, potential building contractors from Australia and New Zealand. These meetings have opened new chances for Vinaconex to corporate with Australia's and New Zealand's businesses in the future.

The brand name 'Vinaconex' has been highly appreciated by big investors, and its shares on the Vietnam stock market have drawn great attraction. Could you share success experience of Vinaconex after 19 years of development?

I think that human resource is the key factor for a busines survival, which is particularly important to the development of a country on the integration process like Vietnam. Vietnam has seen high economic growth in the past years and won the faith of strategic investors, so it is compulsory to have strong human resource to make those chances real value. Because of the awareness of this, we have paid great attention to human resources since the company was established. Annually, the group spends 5-10 per cent of the company's budget to train its staff and workers.

Besides, we are particularly concerned about enhancing the international cooperation and consider it a school to train ourselves. So far, Vinaconex has built cooperation relations with more than 60 countries and territories in the world, including LG, TPG, Taisei, Sumitomo, Posco. We started with exporting labors and experts, then expanded to other aspects such as international tender cooperation, architectural consultant, planning, new technology applications, and international credits.

At present, I can take pride that Vinaconex employees can work together with foreign experts in implementing Vinaconexxxxs projects in order to 'build values and set up dreams'. We have created many valuable constructions in Vietnam such as Bai Chay Bridge and Nga Tu So overpass, two first cable- stayed bridges with one plane in Vietnam. Bai Chay bridge has the length of 435 metres, passing Cua Luc channel with the height of 50 metres from the ground placed on two pillars with the height of 137 metres. This bridge hit the world record in cable-stayed bridge with one plane. Vinaconex has also built high buildings by new technology, industrial zones and urban areas.

We have also developed technology to manufacture components for pre-stressed concrete. At present, this kind of product is applied widely in civil and industrial projects in Vietnam with hundreds of thousand square meters of concrete annually. Vinaconex also produces fibre glass pipes, artificial ashlars facing stones etc. These products are applied in many developed countries and they are manufactured in Vietnam by Vinaconex.

Could you please talk about Vinaconexs strategic orientation in the coming time to tap opportunities in post WTO period and inherit achievements obtained in the past 19 years?

The WTO membership proved that Vietnam's economy has overcome strict requirements set by the international community. Vietnamese businesses are striving to further integrate into the world economy, and Vinaconex is not an exception. We target to build Vinaconex towards a multi-business and multi-ownership group by 2010, maintain the annual growth rate of 20 per cent 25 per cent, and improve our employees living standard. Under the plan, Vinaconex completed the corporationnnns privatisation in 2006, raising more fund for its investment projects. We will try to finish operating projects including Buon Kuop, Buon Tua Shar, Ngoi Phat, Cua Dat and Doc Cay Hydropower Plants to generate electricity in 2009; and Cam Pha, Yen Binh Cement Plants, real estate projects and tourism projects such as An Khanh, Cat Ba and Thao Dien. We believe that what Vinaconex has been doing will attract strategic investors in the coming time.

(Le Hien - Vietnam Business Forum)

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