On the morning of January 12, 2024, in Lang Son, DEOCA Group held a Board of Directors meeting, chaired by Chairman Ho Minh Hoang. The meeting aimed to review the activities of 2024, assess existing challenges, propose solutions, and set out key plans and tasks for 2025.
Members of the Advisory Board, Board of Directors, Executive Board of the Group, management teams from member units and specialized departments, outstanding employees of 2024, and several strategic partners attended the meeting.
Overview of the meeting
The story of "attracting and retaining talent"
Before reporting, the Chairman of the Board Ho Minh Hoang engaged in discussions with the Advisory Board, outstanding employees, and several leaders within the DEOCA system regarding policies for employees and strategies for attracting talent to the Group. He expressed interest in understanding the income levels and motivations of some key employees who had joined and remained committed to DEOCA.
Chairman Ho Minh Hoang shares his perspective on the "Attracting and retaining talent" policy
Ms. Van Thi Thuy Tien, a BOT Trung Luong - My Thuan clerk, expressed: "As an employee, everyone hopes for a high income. However, I understand that to earn a good salary, everyone must put in the effort and dedication to truly deserve it."
Mr. Bui Dac Tien, a specialist from the Technology Department, shared his reason for staying with the Group: "From the moment I joined, I recognized that the Group’s core values aligned with my personal goals. Moreover, my passion for contributing to major projects and applying advanced technologies was a motivation to decide to remain committed to DeoCa."
Discussing talent acquisition, Chairman Ho Minh Hoang noted that many individuals join DEOCA not solely for high salaries but because they share the same vision and desire to contribute to the country's development.
Ms. Thuy Tien shares her opinion at the meeting
PhD. Nguyen Quang Minh, Assistant to the Chairman of the Board and Director of the Training Department, shared his journey to DEOCA: "I spent many years studying and working abroad with a high income. However, after meeting Chairman Ho Minh Hoang, I was convinced by his vision of contributing to national development. Returning to Vietnam, I did not prioritize income because working at DEOCA gives me the opportunity to dedicate myself to my homeland and apply my knowledge in practice. That sense of pride is my motivation."
Chairman Ho Minh Hoang noted that the employees' testimonials serve as a candid response, highlighting that talent attraction is not solely about salary but about fostering motivation toward a greater shared goal. He emphasized that the leadership team remains attentive to employee concerns, continuously refining policies to ensure fairness and alignment with company objectives.
"I, with the Board of Directors and the executive team, always wish for our employees to have high incomes. However, the foremost priority is to ensure the company’s sustainability and growth while addressing existing gaps. In this journey, mutual understanding and shared commitment are crucial factors," Chairman Ho Minh Hoang affirmed.
Managing people – Managing tasks – Managing benefits
Regarding people management, in 2024, the HR and Administration departments achieved significant results in improving the quality of human resources and meeting the growing demands for development. The income of workers has also improved year by year. However, due to the pressure from increasing workloads, the continued optimization of the recruitment process and enhancing the quality of personnel from the very beginning will be a key focus in 2025.
The workforce size in 2024 increased by 5% compared to 2023. Staff changes primarily stemmed from the shift of personnel from completed projects like Cam Lam - Vinh Hao to new projects such as Quang Ngai - Hoài Nhơn, Chi Thanh - Van Phong, Dong Dang - Tra Linh, and also the transition to the operations management division.
CEO Ngo Truong Nam reports on people management
Regarding training efforts, in 2024, the entire system organized over 100 training sessions on corporate culture, professional skills, soft skills, etc., to enhance the quality of human resources. In addition to internal training programs, the Group also cooperated with universities to offer postgraduate training for the Board of Directors, Master's in Project Management for the middle management level, and second-degree courses in railways - Metro, as well as second-degree foreign languages.
In the upcoming period, the Group's key focus is to participate in bidding for high-speed rail and urban rail projects. Recognizing that human resources are a core factor, the Board of Directors, the Executive Board, and the advisors have had extensive discussions on the issue of training personnel to meet the Group's goals.
"Currently, very few partners have the capability of providing practical training in high-speed rail and urban rail. Therefore, to improve the quality of specialized training, we need to cooperate with international training institutions to ensure practical application capabilities and readiness for efficient implementation when entering the field," said Vice Chairman of the Board Le Quynh Mai.
Vice Chairwoman Le Quynh Mai delivered a speech at the meeting
Associate Professor - Ph.D. Do Van Dung – Senior Advisor emphasized the crucial role of training in sustainable development and enhancing competitiveness: "Training is the key to improving human resource quality. In the context of the rapidly evolving global landscape, if we don't focus on enhancing knowledge and skills, we will surely fall behind. Only strong investment in training and human development will allow us to advance steadily and adapt to the changes of the era."
Reporting on the training activities, Mr. Nguyen Quang Minh stated that the Group is implementing a comprehensive training strategy with two main directions: internal training and collaboration with external units. Specialized training is closely combined with theoretical learning and hands-on training, focusing on new techniques and design and construction methods to ensure high practical applicability.
Mr. Nguyen Quang Minh reports on the plan to seek high-quality talent
"With the viewpoint of 'shared culture, shared ideology’, the Training Department plans to seek talented students, offering internship opportunities that combine learning and working at the Group. This will allow them to experience the method we operate and the culture of DEOCA, helping them quickly adapt and be ready to contribute as soon as they join the team," Mr. Minh said.
Chairman of the Advisory Board, Mr. Ho Nghia Dung, stated that the members of the Advisory Board have directly participated in several training courses and expressed many concerns about practical quality. "We have organized many training programs on management, but specialized training in technical skills and technology is still limited. Therefore, soon, we need to focus more on these areas, especially new technologies and techniques. The Advisory Board will actively discuss and provide feedback to the Executive Board, participate deeply, and work closely to promote the effectiveness of specialized training."
Advisor Ho Nghia Dung spoke at the meeting.
Regarding this issue, the Chairman of the Board Ho Minh Hoang stated that there is still a gap between the theoretical knowledge taught in schools and the practical work experience. Therefore, on the one hand, the collaboration with educational institutions to train personnel to meet job requirements for project participation continues. And on the other hand, there needs to be a plan to supplement practical training to address this gap.
In addition to human resources and training, the work of the Party and Youth Union has also achieved notable results. The total number of Party members is now 200, belonging to 2 Party Committees and 10 Party Cells, with 26 members recognized as outstanding Party members. In December 2024, the Party organization of DEOCA Group transitioned its structure from a Party Cell to a Party Committee. At the same time, many meaningful activities have been initiated by the Party and Youth Union, which have received widespread support from union members and employees.
Vice Chairman Nguyen Tan Dong spoke at the meeting.
Regarding project management, in 2024, DEOCA Group carried out an enormous workload. Notable PPP projects that were launched include Dong Dang - Tra Linh and Huu Nghi - Chi Lang, with a total investment of more than 25,000 billion VND. The Cam Lam - Vinh Hao project has been completed and is now in operation. In addition, the group is researching and investing in projects that have been appraised and presented for Pre-FS with a total value exceeding 79,000 billion VND.
The public investment bidding activities in 2024 have resulted in projects such as Dai Ngai 1 Bridge, Hoa Binh - Moc Chau expressway, Ring Road 3 in Ho Chi Minh City, and West Thang Long road, with a total contract value of over 7,500 billion VND. Among these, Dai Ngai 1 Bridge - the second-largest cable-stayed bridge in Vietnam - is a new testament to DEOCA’s construction capabilities.
CEO Nguyen Quang Huy reported on tasks management.
In 2024, the production value reached 8,292 billion VND, achieving 103% of the plan and growing by 38% compared to 2023, mainly driven by projects such as Cam Lam - Vinh Hao, Quang Ngai - Hoai Nhon, Khanh Hoa - Buon Me Thuot, Chi Thanh - Van Phong, Long Thanh Airport, and Ring Road 3 in Ho Chi Minh City.
For the 2025 plan, the Executive Board expects the production value to reach 12,134 billion VND, an increase of 46% compared to 2024; the completion of 5 projects: Chi Thanh - Van Phong, Quang Ngai - Hoai Nhon, Chon Thanh - Duc Hoa, Khe Net tunnel, Long Thanh Airport, and the opening of 2 projects, Dong Dang - Tra Linh and Huu Nghi - Chi Lang, along with participation in bidding for ME&ITS packages for expressways.
Regarding the construction plan for projects, Chairman Ho Minh Hoang instructed project management boards to have detailed, continuous plans for each milestone. The results of the 2025 performance will be evaluated based on this plan. Concerning construction during the upcoming Lunar New Year, Mr. Ho Minh Hoang requested that project teams prepare plans, especially for critical road sections that should continue working throughout the holiday.
For the advisory division, Chairman Ho Minh Hoang requested the executive board to assess the existing issues and devise a restructuring plan to meet the work requirements and operational goals, aiming for "accurate and complete calculations" in alignment with the Group's objectives and demands.
CEO Khuong Van Cuong reported on benefits management.
Regarding benefit management, the revenue for 2024 reached VND 11,245 billion, a 28% increase compared to 2023, and exceeded the plan by 9%. Of which, construction accounted for 69%, operations and toll collection accounted for 22%, and other services accounted for 9%. After-tax profit reached VND 460 billion, a 15% increase compared to 2023 and 3% higher than the plan.
In 2025, the Group sets a revenue target of VND 15,018 billion, a 34% increase compared to 2024. Of which, construction will account for 76%, operations and toll collection 18%, and other services 6%. The after-tax profit for 2025 is projected to be VND 668 billion, a 45% increase compared to 2024.
Regarding capital usage plans, in 2025, the Group intends to contribute capital to ongoing projects such as Bac Giang – Lang Son, Deo Ca Tunnel, Dong Dang – Tra Linh, Huu Nghi - Chi Lang, with a total capital requirement of VND 1,739 billion. Additionally, there is a plan to raise over VND 2,000 billion to supplement equity capital for investing in new projects.
News: Lam Tra – Photo: To Hung
