After 17 years of construction and development, Cuong Thuan IDICO has now become a leading concrete production and infrastructure investment company. With that time siding with the development of Dong Nai province, Cuong Thuan IDICO has invested in many important infrastructure projects and actively contributed to local socioeconomic development.
Cuong Thuan Co., Ltd was established in 2000 with an initial registered capital of VND4.6 billion. In 2007, the company was transformed into a joint stock company with a registered capital of VND104.6 billion and renamed Vietnam Urban and Industrial Zone Development Investment Corporation. In 2008, the company lifted its chartered capital to VND150 billion and renamed to Cuong Thuan IDICO Development Investment Corporation.
Cuong Thuan IDICO has now been a leading concrete production and infrastructure investment company. In concrete production, starting from concrete sewers, the corporation has become one of leading manufacturers of prefabricated concrete structures in Vietnam with annual revenue of hundreds of billions of Vietnamese dong. Boldly investing in modernising production technologies and adopting synchronous, complete production solutions and processes from the input to the output has enabled the corporation to sharpen their product competitiveness. Products made by Cuong Thuan IDICO like precast concrete and hot asphalt concrete are trusted and chosen by domestic and foreign contractors and partners.
In infrastructure investment, Cuong Thuan IDICO is known as a reputable BOT investor. The Company has invested in many key traffic infrastructure works in the whole country, especially in Dong Nai province. Typical projects include Provincial Road 16 (DT 760) connecting Bien Hoa City of Dong Nai province with Binh Duong province to reach National Highway 1, a bypass road in Bien Hoa City on National Highway 1, and an upgrade of 10 km on National Highway 1 – a section passing Trang Bom district, Dong Nai province.
Cuong Thuan IDICO’s infrastructure investment projects have made important contributions to perfecting infrastructure and creating motivations for economic and social development of Dong Nai province and the region. For example, Provincial Road upgrading project facilitates people travelling and cargo transportation in Binh Duong and Dong Nai provinces on the one hand and accelerates economic exchange development between Binh Duong province, Dong Nai province and Ho Chi Minh City. The bypass road on National Highway 1 in Bien Hoa City will connect North – South arterial traffic axis and link major traffic projects in the region like National Highway 51, ICD Tan Cang Depot. In addition to easing traffic density on National Highway 1 in Bien Hoa City and reducing traffic accidents, this route, one completed and operated, will shape a synchronised infrastructure system in Dong Nai province.
Dong Nai province has a high demand for traffic infrastructure development because of high resettlement needs. To provide resettlements for residents affected by its projects, Cuong Thuan IDICO invested to build Binh Minh and Phuoc Tan resettlement areas. The purpose that Cuong Thuan IDICO has concentrated all resources to execute these projects is providing residences for people affected by National Highway 1 upgrading on the one hand and contributing greatly to common infrastructure development, livelihood improvement and economic development.
Companying Dong Nai province in nearly two decades and carrying out many major important projects in the region, Mr Tran Nhu Hoang, President of the Board of Directors of Cuong Thuan IDICO, said that he considered Dong Nai his second home. Most of Cuong Thuan IDICO employees are locals or workers from other localities. Since it started doing business, Cuong Thuan IDICO has received much support from local authorities, the Provincial Party Committee, the Provincial People’s Committee, authorities and people. For that reason, the company always wants to contribute its local socioeconomic development, not only via production and business investment projects but also via various social activities.
Dong Nai province now has 35 industrial zones but 30 have been filled, the most vivid evidence to the investment environment of Dong Nai. Good investment environment and friendly government, I think, make Dong Nai one of the most attractive provinces to investors. With such conditions and its nearly 20 years’ experience with the province, Cuong Thuan IDICO will make further efforts to develop infrastructure in the province, Mr Tran Nhu Hoang said.