Since its inception, Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) has quickly affirmed its leading position in investment and construction of industrial zone infrastructure, transport and hydropower. The company has advanced its solid progress to the vast sea and strongly integrated with regional and international markets. In the upcoming years, the IDICO leadership and all the staff will be determined to uphold its solidarity, initiative, creativity and efforts to fulfil all tasks and positively contribute to the cause of national industrialisation and modernisation. Vietnam Business Forum Magazine has an interview with Mr Nguyen Van Dat, General Director of IDICO, on the above fruits. Duc Tho reports.
What objectives, strategies and solutions did IDICO adopt to achieve sustainable development against the backdrop of a difficult and challenging domestic economy?
Before the current economic challenges, enterprises need to have appropriate innovations to survive and develop. Promoting core competences and sustainable business strategies will be a solid step for them to go forth in the coming time. Particularly, they need an environment where production and business operations are favourable and competition is healthy and fair for all.
IDICO will continue to carry out its corporate restructuring plan. The company will focus more resources on enhancing the quality of human resources, applying science and technology to production and business in order to improve labour productivity, raise quality and reduce product costs. The concern will concentrate on raising its competence of market approach and expand domestic and international markets, particularly new potential ones; establish connection systems; and build, review and monitor business costs to reduce unnecessary spending in order to lower product prices.
In recent years, IDICO has invested in important projects such as Srok Phu Mieng, DakMi 4A, DakMi 4B, DakMi 4C and DakMi 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 for 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 addition to the above investment solutions to catch the new investment wave, IDICO is eager to receive support from authorities of 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.
From the perspective of successful businessman like you, what actions should Vietnamese entrepreneurs take to develop their businesses in the current context?
The Resolution 09-NQ/TW of the Politburo on building and promoting roles of Vietnamese entrepreneurs in the period of accelerated industrialisation, modernisation and international integration clearly stated what they should do. Accordingly, they must have the wisdom and vision which is built on governance capacity, knowledge, good instruments and bravery to overcome current difficulties. They need to focus on restructuring governance in a scientific way and use “human” factors effectively. In addition, they must have passion, endeavour and eagerness to learn new knowledge and bear responsibility for what they have done to overcome all hardships and challenges.
Personally, I think that the Government has taken drastic measures to stabilise the macroeconomic situation and curb inflation to create a favourable business environment for enterprises. For their part, in addition to receiving policy support, enterprises must actively retune their operations to enhance labour productivity and product quality. In addition, they need to actively strengthen business connectivity by joining value chains and production networks and forming industrial and agricultural production clusters. The linkage will help them to develop sustainably, ensure their inputs and outputs, and improve productivity and business efficiency.
In recent business meetings, many successful entrepreneurs noted that starting a business is not merely making money but, with a higher sense, asserting the value of life and applying their ability to society. Do you have any message to the youth on the cause of building the nation and becoming useful citizens?
The mission of the youth is not only learning and practising, but also dedicating and sacrificing. When the country is launching a movement of learning and following the moral example of Ho Chi Minh, I just want to reiterate the advice of Uncle Ho to young generations “The mission of the youth is not to ask what the nation gives them, but to ask themselves what they have done for the nation. They must do more for the sake of the nation. They must sacrifice for the sake of the nation.”
Nowadays, many young people are absorbed in chasing after earthly material values but forgetting their dignified responsibilities and obligations to the fatherland. I just want to remind that “If there is no decent ideal to aim for, life will become tedious, mediocre and even meaningless. Let’s live a meaningful life, live with progressive spirit and try to make your dream come true. The worst experience is failure but you will have valuable experiences for success ahead.”
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