Becamex IDC offers important contributions to provincial development

Update: 07-07-2020 | 15:07:48

After more than 2 years operating as a joint stock company, Becamex IDC Corporation quickly seized the opportunity from the general economic growth to boost production and business, focusing investment resources on new projects in the province. Besides, deploying research and investment projects for provinces and cities nationwide. Becamxe IDC's achievements in recent years have contributed significantly to the socio-economic development of Binh Duong.

VSIP2, one of the industrial parks invested by Becamex IDC and Semcorb Group (Singapore), makes an important contribution in attracting investment and developing industry in the province.

To promote all resources

In 2019, Becamex IDC achieved a total revenue of VND 10,087 billion, profit after tax reached VND 2,631 billion. Mr. Nguyen Van Hung, Chairman of the Board of Directors Becamex IDC said: “In 2019, the Board of Directors with the role of management, supervision and high sense of responsibility has been working together with the Board of Directors to promote all resources and capabilities. and experience in the direction and administration work to achieve the business operations targets set out by the Annual General Meeting of Shareholders in 2019 ”.

Mr. Nguyen Van Hung added, Becamex IDC continues to review and evaluate the effective operation of capital investment in member companies throughout the system. Implementing divestments in member companies in the spirit of the Government's direction and the scheme approved by Binh Duong People's Committee for the period of 2015-2020. Over the past 15 years, Becamex IDC has successfully completed all divestments in Becamex Concrete Joint Stock Company, Becamex Pharmaceutical Joint Stock Company, Hung Vuong Insurance Joint Stock Company and divested part of its capital in the Company. Binh Duong Water and Environment Joint Stock Company. The total value of divestment of nearly VND 900 billion has helped the corporation restructure its financial investment capital and supplement business capital for subsequent years.

In financial management, Becamex IDC has continued to restructure the financial situation, term bonds, medium and long-term loans in previous years. Implementing the resolution on the issuance of individual bonds in 2019, the corporation has successfully issued to investors VND 1,500 billion of bonds in a separate form (5-year term) to supplement the capital scale for production and business activities of the corporation.

Regarding personnel, in order to ensure high-level human resources, the Board of Directors has added the position of permanent Vice Chairman to ensure and timely improve the activities of the Board of Directors; decided to appoint 3 new deputy general directors to enhance the professional work of the corporation. Continue to rearrange and restructure specialized departments to meet job requirements and improve labor productivity efficiency in each specialized field. Regarding the plan to raise capital and change the HOSE listing in 2019, the Board of Directors has completed the issuance of 22,418,900 shares under the ESOP employees' selection program; registered to increase the charter capital after the issuance from VND 10,125 billion to VND 10,350 billion.

“The issuance of capital raising for existing shareholders in 2019 has not been implemented (from VND 10,350 billion to VND 12,420 billion) due to difficulties and inconsistencies from the Government, ministries and branches on the plan to withdraw. State capital and holding at Becamex IDC. The Board of Directors will continue to advise the provincial People's Committee to develop a plan to submit to the Government for approval of the divestment roadmap, asking the State Securities Commission to implement the plan to increase capital for existing shareholders at the latest by 2020. ” Mr. Hung said. According to the plan in 2020, the total revenue of the corporation after merging 6,016 billion dong; Profit after tax target is 931 billion.

Continue to invest in power projects

Over the past years, the Corporation has carried out synchronous investment in power generation and utility projects, creating a foundation for stable and long-term development. Therefore, the corporation continues to build a plan to both invest in developing new projects and investing in the completion of utility projects in the already implemented projects. In the coming time, Becamex IDC continues to invest in power projects in industrial and urban projects invested by Becamex IDC.

Currently, the new city of Binh Duong has become a civilized and modern urban area, contributing to creating an important highlight, directly affecting the overall development of the province. According to the investment plan for construction and business of new urban areas in the period of 2020-2025, with a vision to 2030, power-generating works are the premise for the sustainable development of Binh Duong new city in the future. With the science and technology industrial park being a member of the overall development of Binh Duong new city, an important project in the Binh Duong smart city development project. Science and technology industrial park is the place to create favorable conditions for initiatives to be nurtured for innovation activities, scientific research from universities and laboratories, using human and grassroots competence. physical and utility availability, furthering innovation culture in the whole region. Training, developing and attracting high-quality human resources, further promoting the fostering of creative talents, thereby helping to nurture and create technology that is growing strongly in the whole region.

Mr. Nguyen Van Hung said that building and developing the science and technology industrial park to promote sustainable development, facilitating the commercialization of innovative ideas, helping the public ecosystem. Binh Duong enterprises are increasingly following the direction of technology of innovation, creation and added value of products. Science and technology industrial park will be an important focal point in supporting science and technology for traditional industrial parks developing in the area. With the connection with institutes and schools in the area such as Eastern International University, Vietnam-Germany University as well as other institutes and schools such as Ho Chi Minh National University, National University of Singapore will be the background. The decisive foundation with the orientation of scientific and technological development have been in place in the new period.

With important orientations in the coming time, the corporation has bravely taken the lead in the application of digitization, Eoffice software in management and administration, applying the KPI (Key Perfomance Indicator) in enterprises to evaluate the effectiveness of professional work accurately and comprehensively on the basis of job assignment and job performance. Since then, standardizing professional work and corporate cultural factors to contribute to business development in the era of the 4^th science and technology.

Reported by Phuong Le – Translated by Vi Bao

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Becamex IDC offers important contributions to provincial development

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