FECON, 10 years improving and enhancing a brand name

Welcoming 2014 Giap Ngo Spring, the special thing with FECON Foundation Engineering & Underground Construction JSC (FCN) is FECON’s 10th birthday. This is not a long period with an enterprise’s history of development, but not only is FECON brand confirmed by its distinct values, but also it is improved to create new breakthrough in 2014. Increasing distinct values Dry sweat means out of money … This is how people in construction field talk, to imply the value added of low construction jobs. This makes the group of young engineers, whose leader is Pham Viet Khoa, who is currently chairman & CEO of FECON, having passion with construction job, concerned 10 years ago: how to locate the new direction for FECON that still has “land” for people to keep their passions with construction job and to create high and sustainable value added for this sector, rather than going to the trail like many enterprises in construction sector. The answer to the above conundrum has been found, when the group of young engineers was given tips by the top experts in and outside the country for handling, constructing foundation works to intensively invest in handling and constructing underground works, a quite new field in Vietnam 10 years ago. Being new, FECON must be dynamic and creative in deploying business strategy. Therefore, FECON has shaped the distinct values after 10 years of development. So far, the investment of private enterprises in establishing scientific research institutions, catering to business development is still uncommon in Vietnam. However, more than three years ago, FECON has established Institute of Foundation and Underground Engineering (FECON INS), bringing together top experts in and outside the country to participate in research. Thereby, FECON can proactively choose technology, investment field, ensuring efficiency, maximum cost savings. In order to support scientific research activities, approaching new research directions, seizing the opportunity to deploy scientific advances in production and business, as well as gradually expanding the influence of FECON regionally and the worldwide, once every 2 years, FECON hosts the International Conference on Geotechnical Engineering for the sustainable development (GEOTECHN). Following the success of the first Conference taking place in 2011, the second one was held successfully at the end of 2013, attracting more than 500 guests who are leading professionals, enterprises in foundation and underground field from 27 countries, including famous experts in the world such as Professor. Sven Hansbo (Sweden), Professor. Guilloux Alain (France), GS. Rolf Katzenbach (Germany), etc. The launch of FECON INS is the turning point, not only increasing the differences in development strategy of FECON, but also confirming the sustainable value added for FECON which is created by gray matter value. This, plus FECON has secret in organizing the construction satisfying two most stringent requirements of FDI projects: to ensure the quality and schedule committed. Thus, FECON brand is always present at large FDI projects all over the country such as: Formosa steel factory (Ha Tinh), Samsung high technology zone (Thai Nguyen), LG manufacturing and assembling electronics tech products factory (Hai Phong ), Nghi Son oil refinery factory, etc., as the leading contractors for foundation items. Another distinct characteristic of FECON is the increasingly effective operation of closed value chain from exploiting materials, manufacturing, supplying equipment, to organizing the construction of works, projects which require high quality of techniques according to international standards. In terms of technology field, FECON is in charge of most procedures related to foundation, from survey, design, project management to maintenance of works. Succeeding in distinct direction, at the end of 2013, FECON reached 1,200 billion in revenue, 116 billion in net profit, the stock price rose 60% compared to the beginning of the year. FCN is the stock that always has high liquidity on HOSE, attracting domestic and foreign investors, including large organizations such as Vietnam Holding Limited, Lumen Vietnam Fund, etc. Last year, FECON was ranked 18/50 out of the best companies in Vietnam stock market by Forbes Magazine. New Stature To create new breakthrough from the success achieved after 10 years of development, company leader states that FECON will guide the organization according to the model of business group in the form of strategic alliance with some companies that have strong capabilities in infrastructure and construction in 2014. FECON is considering the plan to raise capitals for strategic investors, aiming to support FECON to increase financial capacity more to break through with the new opportunities. In 2014, besides continuing to prioritize in developing customers that are FDI, ODA, the national key projects, together with improving financial capacity, FECON will focus on approaching services, construction techniques of underground projects in urban areas, to increase geographical balance, aiming to achieve the expected growth target, which is 50% of sales compared to those of 2013. FECON is working with professionals, large and trustworthy corporations in the world such as  Raito Kogyo Foundation Group to investigate new market, products and services, to catch new business opportunities, through which create breakthrough for FECON, at the same time quickly realize the goal of making FECON become Vietnam’s leading companies in foundation in 2015 and become a leading business group in Infrastructure in 2025 HỮU HÒE (ĐTCK)