On March 4, 2025, DEOCA Group held a Board meeting led by Chairman of the Board of Directors, Ho Minh Hoang, with the presence of the Advisory Council, the Board of Directors, the Executive Board, leaders of specialized departments, and the Executive Board of subsidiary companies. The session took place at the HCM City office and was connected online with offices and project sites nationwide.
The meeting focused on restructuring the organizational model and enhancement of management and operational efficiency. Furthermore, specific action plans for 2025 were also proposed.
The overall view of the meeting
At the beginning of the meeting, Mr. Pham Ngoc Quy, Chief of the Board of Directors Office, reported on the organizational structure following the restructuring. Accordingly, the number of specialized departments was reduced from 11 to 8. The functions of the departments after consolidation were also adjusted and enhanced to align with the new operational context.
The report also presented the adjustments to the task assignments of the Executive Board, the Board of Directors Office, and key personnel, while assigning responsibilities to the Vice Chairmen of the Board and the Executive Board under the "imperfect pair" model for the management of people, work and benefits.
Regarding this matter, Chairman of the Board of Directors Ho Minh Hoang instructed members of the Board of Directors and the Executive Board to fully grasp their respective scopes of work to develop detailed implementation plans. Additionally, the Chairman of the Board of Directors will conduct dedicated working sessions with each group in accordance with the three-management model.
Chairman of the Board of Directors Ho Minh Hoang presided over the meeting
The Chairman of the Board of Directors emphasized that each employee must maintain enthusiasm, responsibility, and dedication to their work. Employees who neglect their responsibilities or demonstrate behaviors misaligned with the organization will be subject to reassignment or replacement. Functional and responsibility adjustments will be determined by competence and attitude rather than position or seniority.
"The Board of Directors' directives must be closely followed and strictly implemented. Although the Board will not strongly interfere in detailed operations, it must closely monitor and evaluate the outcomes and effectiveness of the Executive Board's performance”, Mr. Ho Minh Hoang directed.
At the meeting, the Executive Board presented the action plan of 2025 in accordance with the “Managing people - Managing work - Managing benefits”. General Manager Nguyen Quang Huy emphasized that 2025 marks a significant turning point for the country in general and the Group in particular. From the beginning of the year, DEOCA Group has received special attention from the leaders of the Party, Government, and relevant Ministries, as demonstrated through their direct visits to construction sites and projects undertaken by DEOCA. “This attention is a driving force for the Executive Board to enhance their responsibility and determination to fulfill the assigned tasks", Mr. Huy affirmed.
Regarding “Managing work”, in 2025, DEOCA Group will undertake a substantial volume of work, with total project value estimated at 4 billion USD. Among these projects, Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway project officially commenced on February 1, 2025. To ensure the timely progress of upcoming PPP projects, the Executive Board has proactively developed an implementation plan, including the selection of execution models, contractor identification, strategies for material extraction, and construction management.
For construction and installation projects, ME&ITS…, the Executive Board is developing plans and estimating optimal completion timelines to proactively manage the reassignment of personnel and equipment to new projects, ensuring adequate resource allocation. Simultaneously, the Board also emphasized the focus on workforce development and investing in machinery and equipment, not only within the Group but also across its subsidiaries, to meet bidding requirements and ensure the effective implementation of projects.
General Manager Nguyen Quang Huy reported on the topic of “Managing work”
In terms of operational management packages, the Group will focus on road sections featuring traffic tunnels and routes adjacent to existing projects under DEOCA's management to leverage strengths and optimize operational efficiency.
In regard to construction and installation activities, in 2025, DEOCA Group will carry out the execution of 6 PPP projects and approximately 15 state-funded projects, with a planned revenue of over 587 million USD. The key missions include ensuring Dong Dang - Tra Linh and Huu Nghi - Chi Lang expressway projects open to traffic and completing Quang Ngai - Hoai Nhon expressway.
For ongoing projects, the Chairman of the Board of Directors emphasized the need for close coordination with relevant parties to finalize payment and settlement documents in parallel with the construction process. Notably, for projects with adjusted capital ratios, the documentation process will be more complex, requiring the Executive Board to proactively prepare and be ready to address any arising challenges.
Mr. Ho Minh Hoang also instructed the Executive Board to review past project performance, evaluate the effectiveness of current models and solutions, identify any shortcomings, and from that, make necessary adjustments and propose more suitable models for the next phase.
Assoc. Prof. Dr. Tran Chung, Vice Chairman of the Advisory Council, stated that in 2025, DEOCA Group faces many key objectives, particularly the task of opening traffic for three critical projects. In addition to accelerating progress, project quality remains non-negotiable. Therefore, the Advisory Council will develop specific work programs, clearly assign responsibilities to the members, and announce to each project to enhance coordination and improve implementation efficiency.
Advisor Tran Chung spoke at the meeting.
Colonel Nguyen Thanh Trang, Standing Member of the Advisory Council, stated that while the assignment of Board of Directors Office’s personnel across regions has been appropriately structured, there remains a need to further enhance operational quality. He also emphasized the crucial advisory role of the Board of Directors Office in supporting the Board, not only in organizing and executing tasks but also in assessing performance effectiveness.
Regarding project performance monitoring and evaluation, project’s progress reports must provide a clear assessment of both achievements and existing challenges. “What about the quality, progress, and overall effectiveness? Who holds responsibility? Monitoring and evaluation must be conducted regularly and periodically to enable timely adjustments, rather than being postponed until the final stage for review and reporting”, Advisor Nguyen Thanh Trang emphasized.
In regard to "Managing people", General Manager Ngo Truong Nam outlined four key priorities for 2025: personnel transfer and recruitment, personnel review, assessment and restructuring, workforce training and development, and cost management aligned with revenue.
General Manager Ngo Truong Nam reported on the topic of “Managing people”
For internal training and training collaboration, in 2025, the Group will continue implementing internal training programs to promote corporate culture and enhance professional skills and expertise. Additionally, the Group will expand partnerships with universities, colleges, and vocational schools to develop multi-level training programs tailored to different employee groups, including workers, technicians, and general laborers; engineers and specialized personnel; as well as senior leadership teams.
Regarding this matter, Chairman of the Board of Directors Ho Minh Hoang assigned the Human Resources Department to develop a specialized training outline for engineers. Notably, practical application is highlighted as a key criterion to ensure that personnel are not only well versed in theoretical knowledge but also proficient in practical execution and meet project implementation requirements in the upcoming phase.
In terms of “Managing benefits”, General Director Khuong Van Cuong reported that the planned revenue for 2025 is expected to reach over 587 million USD, marking a 34% increase compared to 2024. Of this, the revenue from construction and installation accounts for the largest share at 76%, followed by operations and toll collection at 18%, while the remaining 6% comes from other services. Net profit after tax is estimated to reach 26.2 million USD, increasing by 45% from 2024.
General Director Khuong Van Cuong reported on the topic of “Managing benefits”
General Director Khuong Van Cuong stated that following the principle of "hard work must yield results", the Executive Board has established a cost control framework to promptly rectify and adjust when necessary. Additionally, the Board of Directors' Office conducts independent evaluations of implementation efficiency, serving as a basis for appropriate adjustments.
For issues related to mechanisms and policies, such as those concerning La Son - Tuy Loan and Bac Giang - Lang Son projects, the Group will continue to advocate for resolution. At the same time, it will accelerate the procedures for increasing state budget allocation for key projects like Dong Dang - Tra Linh and Huu Nghi - Chi Lang.
The year 2025 marks the 40th anniversary of DEOCA Group's establishment and development. The achievements attained today are the result of clear strategic direction from the Board of Directors, decisive leadership from the Executive Board, unity and solidarity among employees, combined with financial capacity, as well as effective management and operational capabilities.
As DEOCA Group embarks on its journey ahead, challenges are still inevitable. However, guided by the philosophy of "Think Different, Make Difference" and the core values of "Aspiration – Perseverance – Gratitude", coupled with a strong resilience in overcoming difficulties, DEOCA people will continue to deliver monumental and sustainable construction projects. These efforts will play a vital role in fostering Vietnam’s prosperity, driving the country’s comprehensive development, and propelling it to breakthrough in this new era - the era of the nation's rise.
News: Nguyen Nga – Photo: To Hung
