(VNF) - The epidemic attacked, distanced, and blocked most of the country's important economic centers for many months and we still haven’t known when it is controlled . The question now for Vietnamese businesses is how to get out of the crisis?
Trung Luong - My Thuan Expressway focuses on construction to complete the project by the end of the year.
“Danger’’ and “Opportunity”
According to Dr. Nguyen Duc Huong, former Chairman of LienvietPost bank, there has never been a question about how to revive the economy, revive thousands of large and small businesses that are struggling because of the heavy consequences of the pandemic is as important as it is right now.
Dr. Nguyen Duc Huong believes that the model of Deo Ca Group that he has been following recently is a model and direction for businesses to refer to.
He said: “During many difficulties, Deo Ca is interested in developing the human factor. There are two views on the strategy of businesses, the first is "queue and run at once", the other is "queue to run". Currently, Deo Ca has "lined up" neatly to be ready to "run". Knowing how to turn "danger" into "opportunity" to create new opportunities with the different paths of Deo Ca Group has been realized through successful rescues in projects of Bac Giang - Lang Son, Trung Luong – My Thuan.
The pandemic will also fall behind someday, but the important thing is how Vietnamese businesses will step through the crisis. Covid-19 reminds people of the economic recession of the Southeast Asian economic crisis in 1997 or the world financial recession of 2008.
Experience shows that, when the market is depressed, industries have to stop production, invest in the construction of transport infrastructure will create jobs immediately for many workers who lost their jobs due to the pandemic. For Vietnamese businesses, this is the time to "turn danger into opportunity", overcoming immediate difficulties to create opportunities for organizational development is also an opportunity to develop the country.
Remember when the Covid-19 epidemic just showed signs of appearing in Vietnam, Deo Ca Group restructured the Group's management apparatus on the point of "proactively changing to adapt".
Mr. Tran Van The, Vice Chairman of Deo Ca Group, said that there are three lines of defense for the control system that the group sets out: control - pre-check; quality and risk management and financial control - post-audit; The third line of defense is internal audit - audit.
“The suspension of toll collection is an urgent solution to prevent and control the epidemic and ensure the safety and health of the people. We completely agree and support it. This was within our expectations. We have proactively worked with banks, the Ministry of Transport proposed to adjust the appropriate financial plan, without affecting the project” said Mr. The.
Finding own ways in difficulties
On July 30, 2021, Deo Ca Group, representing the investor consortium together with the Ministry of Transport, signed a contract for Cam Lam - Vinh Hao Expressway Project with a total investment of 8,925 billion VND. Deo Ca Group has requested the Ministry of Transport to review the bidding documents to determine the criteria for investment capital from many forms such as shares, bond issuance, business cooperation contracts, etc., without depending on credit. In addition, they have asked credit institutions to reduce loan interest, restructure debts, etc., according to current epidemic conditions, social distancing or to stop charging fees.
Although the BOT contract negotiation time is longer than other projects, Deputy Minister of Transport Le Anh Tuan affirmed at the contract signing ceremony: “The BOT investor is very professional in negotiation. We appreciate it very much. Bidding for this project, a savings plan of VND 891 billion was selected. That is the inspiration to create a better investment environment to successfully implement 5000 km.”
Mr. Phan Van Thang, General Director of Cam Lam - Vinh Hao project, said: “In order to ensure the project progress and respond to common difficulties such as epidemics, scarce materials, skyrocketing prices... We proactively mobilized experienced personnel who have been vaccinated, mobilized equipment to organize the construction of tunnels in advance, dig and break rocks in the tunnels to grind and sieve into aggregates, sand, etc. to survey and select quality material mines right from the time we participate in the bidding to avoid increasing the total investment of the project”.
“The fact that Deo Ca Group saves more than VND 800 billion, proactively sources raw materials, makes use of blasting stones at Cam Lam - Vinh Hao Project is a matter of "benefiting the country - benefiting the house", putting the interests of the country first, then think about the interests of the enterprise”, Dr. Nguyen Duc Huong commented.
In the context of current policies with many shortcomings and risks, banks and credit institutions are still afraid of BOT projects. The fact that Deo Ca Group has proactively sought new directions when arranging capital sources, to determine that it is not too dependent on loans from commercial banks in many forms such as issuing bonds, raising capital through the market. stock market (stock code: HHV), BBC investment cooperation contract…
Recently, an international financial institution has also proposed a loan of nearly 100 million USD to invest in the Cam Lam - Vinh Hao project, confirming that the above approach is appropriate.
With the "connection to create social value" mechanism, in addition to the connection between government agencies from the central to local levels, the connection between the Government and investors, Deo Ca Group is also very interested in connecting fields with interests related to the project, thereby calling for other investors such as real estate, industrial urban areas, high-tech agriculture, services and logistics, etc. to contribute capital to traffic works. These are also the options being applied in new projects that Deo Ca is investing in or proposing to invest such as Tan Phu - Bao Loc, Dong Dang - Tra Linh...
Currently, in addition to consolidating the organization and developing investment in new projects, Deo Ca Group is still doing very well in ensuring the progress of ongoing projects across the country such as Trung Luong - My Thuan Expressway (Tien Giang), Cua Luc 1 bridge, Bao Bien tunnel (Quang Ninh), Thung Thi tunnel (Thanh Hoa)...
BY HA THU
Source: https://vietnamfinance.vn/tap-doan-deo-ca-bien-nguy-thanh-co-20180504224258727.htm
