IDICO: Infrastructure Development to Draw Investment for Social Livelihoods Improvement

In its many years of construction and development, IDICO has experienced many stages of development with different strategic objectives derived from changes in the business environment and macroeconomic conditions. IDICO has taken the philosophy of “Focus on core competencies” as the guideline for its comprehensive restructuring campaigns to create the foundation for stable and sustainable development in the future. In 2006, in response to the policy on reform, reshuffle and performance improvement in State-owned enterprises (SOEs), IDICO decided to transform its operation model to the parent - subsidiary company form. After only one year of operation, IDICO continued to conquer the market, achieved many impressive results in business operations and performances and showed strategic business visions by equitising its member companies to quicken the flow of State working capital among its members companies engaged in different industries. To enhance the efficiency of production and business capital, apart from privatising its member companies, IDICO also opened up opportunities for its employees to become shareholders.

In the period of 2012, IDICO had eight affiliated enterprises. It thus had five independent companies, 10 subsidiaries and 18 associated companies. All companies had rich experience and strong financial strength and they thus helped build up the name of IDICO closer to the ultimate mission of supplying investment solutions for industrial zone infrastructure, building and executing construction works and manufacturing building materials.

 

In recent years, IDICO has continued to invest in important projects such as Srok Phu Mieng, 4A, Dak Mi 4B, Dak Mi 4C and Dak Mi 3 hydropower plants; industrial parks in Dong Nai, Ba Ria - Vung Tau, Vinh Phuc and Bac Ninh provinces like Nhon Trach 1 and Nhon Trach 5 industrial parks (Dong Nai), My Xuan A and Phu My II industrial parks (Ba Ria - Vung Tau) and Que Vo II Industrial Park (Bac Ninh); important transport works like National Road 1 (An Suong - An Lac section), National Road 51, National Road 2 - Noi Bai - Vinh Yen; and housing projects like social housing project in Nhon Trach Industrial Park and Tan Phu IDICO high-rise apartment block.

 

In the coming time, IDICO will continue to make investments in its core businesses like industrial park, hydropower plant, housing and transport infrastructure. Specifically, in industrial zone development, IDICO will seek investors to develop modern industrial zones to meet the demand of investors. The corporation will also focus on promoting investment and development for clean and environment-friendly projects, including worker accommodations in industrial zones invested and operated by IDICO.

 

In recent years, IDICO’s average annual growth has been in the range of 15 per cent - 20 per cent. Development data showed performance efficiency of the corporation. And, these results come from:

 

First, all the staff members of IDICO are always united, dynamic and creative in upholding the corporation’s traditional values and internal forces.

 

Second, the leadership has strategic visions. Specifically, the leadership advocates choosing appropriate business lines, avoiding direct competition with domestic gigantic companies with rich experience and selecting best strategic foreign investors. This approach brings a professional working style and an international vision.

 

Third, IDICO expresses absolute compliance with Government-guided business operation measures like focusing resources on urgent projects, reducing and rescheduling ineffective projects, divesting from non-core business companies and ineffective companies.

 

Before the foreseen wave of foreign direct investment induced by international trade agreements, typically recently signed Trans-Pacific Partnership (TPP), IDICO will catch new opportunities by seeking construction of more modern environment-friendly industrial parks to serve investors; planning the centralisation of scattered industrial zones to have unified administration, improve infrastructure synchronisation and apply environment-friendly measures; and building accommodation facilities for people working in industrial zones.

 

IDICO General Director Nguyen Van Dat said that, to further expand its business operations and development investment, in addition to above investment solutions to catch the new investment wave, IDICO is eager to receive support from authorities at all levels and investors to build modern, environment-friendly industrial parks. With the Prime Minister’s spirit of supporting entrepreneurship, IDICO hopes that the Government will further improve investor support mechanisms and policies, create a more favourable climate and simplify administrative procedures to better serve new requirements in the process of economic integration and development. Given its outstanding efforts over the years, IDICO is confident to pursue and achieve its goals and strategies.