On May 5, in Hanoi, DEOCA Group JSC and FECON JSC signed a memorandum of understanding (MOU) for cooperation, marking an important step forward in their partnership.
The program took place immediately after the Politburo's Resolution No. 68-NQ/TW on private economic development, which clearly defined the private economy's pioneering role as the “most important driving force” in promoting growth, innovation, and national economic development in the upcoming period.
Overall view of the ceremony.
On that basis, the cooperation agreement is oriented by both sides to focus on vigorously developing human resources, strengthening digital transformation and the application of advanced science and technology, as well as international cooperation. The aim is to jointly contribute to building and developing the domestic business community to achieve breakthroughs, contributing to the development of the country in the nation's era of rising.
Measuring success by effectiveness, aiming for sustainable cooperation
According to the content of the Memorandum of Understanding (MOU), FECON and DEOCA will cooperate closely in researching, developing, and implementing infrastructure construction services for a series of key transportation projects. This cooperative relationship will particularly focus on urban railways projects, national high-speed railways, road transportation infrastructure, and technical infrastructure works in major cities – fields that the Government is particularly emphasizing for implementation in the upcoming period.
Specifically, the two sides agreed to orient the formation of a consortium to participate in bidding for construction or investment under the Public-Private Partnership (PPP) method in urban railway and high-speed railway projects, contributing to improving urban transport capacity, reducing traffic congestion, and creating new development space for major cities. DEOCA and FECON commit to working together with the competent authorities, and at the same time, proactively seeking and cooperating with experienced domestic and foreign partners to enhance project implementation capacity, ensuring technical standards and construction progress as required.
In addition, the MOU also expands the scope of cooperation to the field of road infrastructure and urban technical infrastructure.
The cooperation between the two large private enterprises is not only based on a shared vision for sustainable infrastructure development but is also a strategic connection between two systems with mutually complementary capacities.
Sharing at the signing ceremony, Mr. Ho Minh Hoang - Chairman of the Board of Directors of DEOCA Group - emphasized that the signing is only the first step to officially recognize the cooperation.
“Besides the contents already mentioned, the two parties also need to cooperate in sharing experience on corporate governance, internal control, and building corporate culture. Focus must be placed on human resource training - not formal training, but practical training for workers and combat-ready engineers. These are important foundations for both sides to develop together, cooperate sustainably, and are also the necessary and sufficient conditions for international cooperation. Your success is also our success. Your prosperity is also our joy. The cooperative mindset must be based on a foundation of overcoming difficulties together, winning together, and going far together” - Mr. Ho Minh Hoang said.
Mr. Ho Minh Hoang – Chairman of the Board of Directors of DEOCA Group delivering a speech at the ceremony.
The Chairman of DEOCA Group proposed that, following the signing of the MOU, the two sides urgently take specific actions, from work on the planned projects to sharing experience on corporate governance, training models, or corporate culture, etc. It is necessary to immediately establish a working group to organize the implementation of the agreed contents between the two sides, develop a detailed plan, and assign responsibility focal points for each work item. “Determine to implement substantive cooperation, with clear goals, products, and a schedule. Hard work results, but it must be effective”.
Mr. Pham Viet Khoa - Chairman of the Board of Directors of FECON JSC - shared the same view on the need for both sides to continue working more deeply to concretize and assign responsible persons for each task, to achieve practical results for both. “We are confident that up to this point, FECON has the support of the State and the people. With the presence of DEOCA, this support will be even greater,” Mr. Khoa said.
Mr. Pham Viet Khoa - Chairman of the Board of Directors of FECON JSC speaking at the ceremony.
Responding to Resolution 68, expectations to jointly develop Vietnamese enterprises
The signing ceremony of the MOU between DEOCA and FECON took place right after the Politburo’s Resolution No. 68-NQ/TW on private economic development (Resolution 68) was issued.
The signing ceremony of the Memorandum of Understanding on cooperation between DEOCA Group JSC and FECON JSC.
Resolution No. 68 is evaluated to have many breakthrough points, removing numerous barriers for the development of the private economy. In particular, the Resolution emphasizes that, in the socialist-oriented market economy, the private economy is one of the most important driving forces of the national economy, a pioneering force promoting growth, job creation, enhancement of labor productivity, national competitiveness, industrialization, modernization, and economic restructuring towards green, circular, and sustainable development.
The private economy plays a core role in building an independent, self-reliant, self-sufficient, and self-resilient economy associated with deep, substantive, and effective international integration. This will help the country out of the risk of falling behind and rising towards prosperous development.
The Resolution also states the guiding viewpoints of thoroughly eliminating preconceptions, ideologies, conceptions, and prejudiced attitudes towards the Vietnam’s private economy; properly assessing the important role of the private economy for national development; nurturing and encouraging the spirit of entrepreneurship and innovation among the people and businesses; respecting enterprises and entrepreneurs, and recognizing the entrepreneur as a combatant on the economic front...
Mr. Pham Viet Khoa assessed that Resolution 68 addresses all the issues that have long been barriers to the development and contribution of the private economy to the country. The content of the Resolution is very clear, decisive, and consistent with the path that enterprises like DEOCA and FECON are pursuing - substance in quality, respect for science and technology, promotion of corporate culture, and focus on human development.
One of the contents mentioned in Resolution 68 is the enhancement of the quality of human resources for the private economy. This focuses on concentrating on resources to develop a network of high-quality vocational and university education establishments, as well as key sectors and occupations. It encourages the development of joint training programs with foreign countries, expanding and transferring advanced training programs to serve the development of the private economy.
Regarding this issue, Mr. Ho Minh Hoang provided the orientation for the two sides to research cooperation in investing in a vocational training facility that “shares applied skills - combat reality” to overcome the situation of “surplus teachers, shortage of workers”. For new sectors like railways, training programs can be imported, international experts can be invited for coaching, focusing directly on the substance, and bypassing formal barriers.
“Lack of human resources is a major bottleneck. The current training methods at some schools are truly unstable and unsuitable for the requirements of enterprises. We must seriously recognize the current labor productivity of our workforce. We cannot self-proclaim to be capable without being willing to learn, and certainly, the successor generation must be more thoroughly and deeply prepared. We have learned and summarized experiences from predecessors, creating models such as improving NATM construction technology (Deo Ca system) or the PPP++ model, precisely from seriously recognizing where we stand and what difficulties we face to self-learn and self-improve...
All these things we have extracted and verified in projects are being systematized into handbooks to serve internal training and be shared with training units, using knowledge to create value, so that the younger generations of the enterprise can continue to inherit and excel domestically, ready to reach international levels” - Mr. Hoang shared and proposed that FECON join in building this handbook based on their practical operations and application of science and technology.
The Chairman of DEOCA Group affirmed that Resolution 68, upon its issuance, mentions many contents that enterprises are thinking, doing, and worrying about. From human resource development, boosting digital technology, international cooperation, to resolving entanglements that have existed for many years (which have eroded private sector confidence in the institutions).
The Resolution demonstrates the deep support, understanding, trust, and confident expectation of the Party and the State in the development of the private economy, opening up clear opportunities for Vietnamese enterprises and entrepreneurs. Reputable enterprises, which matured through real capacity, accepting sacrifices for a period to share with the State and face inadequacies, will have the opportunity to prove themselves when old bottlenecks are removed, current problems are solved. This establishes what entrepreneurs and enterprises must do now and especially clearly outlines the vision for the future.
“Accompanying the country into a new era, we must eliminate old thinking - the thinking of lacking sharing - and unhealthy competition. The aspiration already exists, and now confidence has been strengthened by the direction for private economic development in Resolution 68 that the General Secretary has recently directed. What remains for enterprises to develop well and sustainably, and ready for international competition, is our mission. Entrepreneurs and enterprises are standing before new opportunities; we should not demand anything more, but need to: Dare to think - Dare to speak - Dare to act - Dare to take responsibility as General Secretary To Lam said... Let's produce real products for society – and Vietnamese people should take complete ownership during the country's transition period,” he added.
In addition to the signed cooperation, DEOCA Group and FECON will connect with international partners, work together with major domestic enterprises in the automotive machinery sector, to connect investments in fields such as locomotives, carriages, and real estate... to soon form a consortium of investors, contractors, and service providers, jointly participating in the country's metro projects.
News: Tuan Khang – Photos: Tuan Linh
