In the course of 40 years of construction and development, Tu Liem Urban Development Joint Stock Company (LIDECO) has constructed hundreds of buildings with thousands of apartments.
The 40-year development journey of LIDECO (formerly Tu Liem Construction Enterprise) is marked by many important milestones. The company has experienced successes, hardships and slowdowns. After going public, LIDECO accelerated its big urban infrastructure construction projects. The first project that marked the transformation of the company was Dich Vong New Urban Area, built in 2004 with four apartment buildings from 18-47 storeys, and 154 villas and townhouses. This project was a major source of income for the company in the 2007-2010 stage. After the Dich Vong New Urban Area, the company carried out many big projects, including the North National Road 32 - Tram Troi New Urban Area, Tay Do Urban Zone (Hanoi) and Hoa Son Urban Zone (Hoa Binh province). Effective big projects have upgraded the company profile, which now has six member companies and thousands of employees.
At present, with its continuous expansion in operating scale and fields, LIDECO is a big name in the industry. The core elements to the success of LIDECO are its internal resources, in which its personnel are the key to unlock the way to success and make spectacular breakthroughs. LIDECO always tries to create a competitive working environment, utilise the best capabilities of every employee, protect rights and interests of employees, and improve their spiritual life. These help the company build a healthy, civilised and united corporate culture.
In recent years, many businesses were caught in numerous difficulties and challenges due to economic downturn caused by rising inflation, stagnant production and freezing real estate market. But, with its quick anticipation of those difficulties and challenges, LIDECO adjusted its business development plans to maintain stable growth and prevent risks. LIDECO President Nguyen Van Kha said, with ‘slow progress but sure outcome’ business philosophy, sustainable development and well-established prestige helped the company withstand market volatility. With his talent and resolution, he has led LIDECO to firmly overcome all difficulties and he was honoured with many prestigious awards such as Third Class Labour Order by the President of Vietnam; Prestigious Stock Brand, Golden Stock Brand and Pro-community Business; Vietnam Golden Star Award, and Vietnam Top 500 Company Award in 2013. The development of LIDECO was clearly evidenced with a 10 per cent growth in 2013. In 2014, by continuing its successes, LIDECO will focus investment on key projects like Dich Vong Trade Centre, 17-floor Apartment and North National Road 32 Urban Zone Project.
However, to generate a general push for all enterprises to overcome the storm, according to Kha, the Government should focus resources on building Vietnam-branded products for export. At the same time, the Government needs to be more resolute to remove complicated bottlenecks of the economy to create motivations for social development. It should introduce policies to encourage the private involvement in public - private partnership projects. Regarding the real estate sector, the Government needs to have long-term stable, consistent compensation policies and facilitate businesses to have clean land funds for project investment.
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