Chiến lược Phát triển Của Tập Đoàn Vinaconex Trong Giai Đoạn 2005-2010

Make a list of main opportunities and threats that influence the success of a business (usually 10 to 20 factors)

The weight assigned to a given factor indicates the relative importance of a factor to the success of business in a specific industry.

Assign a rating to each factor ranging from 1 to 4 (the rating may get higher values in practice). Rating indicates how effective the firm’s strategies respond to

Score each factor by multiply the factor weight and its rating

Make a list of factors that play decisivedicisive roles to a firm’s competitive capability in a specific industry (usually 10 to 20 factors)

Growth of Vinconex during the period of 2005-2010

- National and sectorsecotr economic development orientation: Bases on national socio-economic development orientation and construction sector orientation, the Corporation will analyzeanalize the changing of demand for products, services and supportive policies from the Government. - Policy of corporation’s leaders: Board of Directors, Board of Management are those who have strongest responsibility and power in the Corporation, so the policy of Board of Directors and Board of management always pose impacts on the entire operation of the Corporation. Although still benefiting from the preferential policies from the Government that gave priorities to infrastructure development as the infrastructure in Vietnam is still very weak, the construction sector was strongly influenced by the government’s efforts to control inflation in recent years.

According to the data of General Stastic Office, the value of Gross Domestic Product of construction sector reached VND 101.564 billion, accounting for 5.94% of Gross Domestic Product of Vietnam in first 9 months in 2011, slightly declined in comparisoncomparision with the weight of same period in 2010 (6.05%).

Structure of GDP in Vietnam in first 9 months of 2011 and the same period of 2010

Growth rate of the economy in 9 months of 2011 and 2010

Besides the traditional strength in construction sector in Vietnam which is hydroelectric plant construction (such as Thac Ba, Hoa Binh, Tri An, Vinh Son Song Hinh, Yaly, Se San 3, Tuyen Quang and Son La ..) Song Da Corporation also engages in infrastructure construction, transportation, civil works and industrial works construction, manufacturing construction materials such as steel and cement, providing consultancy service in construction sector, export – import construction materials, construction equipments, construction technology; real estate developing, investment in industrial zones and urban areas (with many key projects on progress such as My Dinh – Me Tri new urban area, South An Khanh urban area. Some key projects of HUD Corporation in Hanoi include: Van Quan – Yen Phuc New urban area (Ha Dong District), Phap Van – Tu Hiep new urban area project (50 hectares) at Hanoi southern area, My Dinh II urban area project (26.24 hectares), Dinh Cong new urban area project (35 hectares), Linh Dam complex buildings project (184 hectares), Tan Lap new urban area project, Chanh My new urban area project, Van Canh project, Viet Hung project…. Cơ hộiOpportunities: along with certain challenges in current process of international economic integration, the Corporation is also given great opportunities to expand its market share and revenue by grasping the opportunities from advance technology, increasing demand for construction product in the process of industrialization and modernization of the country which accordingly enhance the advantages of the Corporation over competitors.

The projects also faced with difficulties when the outputs could not be completely sold out because there were so many options available for buyers while VINACONEX’s price was not so competitive and post-sale service was not professional in comparison with other competitors.

Revenue Struture 2010

In construction and installation business, the capacity, requtation and brand name of VINACONEX has been identified and strengthened as the leading corporation which can be proved through on-schedule finishing with qualified quality of projects in which VINACONEX plays the role of main contractor. In accordance with the orientation to become one of leading group in construction and real estate business, in 2010, the Corporation was active in searching for demands, participated in bids for projects in central and southern regions in order to cover the brand name of VINACONEX on these regions with the projects of Tam Ky, Lang Co, Tan My – Ninh Thuan irrigation works, subsidiary dam of IAMOS reservoir – Gia Lai, Hiep Phuoc Cement Plant…. Besides the effective exploitation of Cua Dat hydropower plant, Yen Binh cement factory, prestressed concrete manufacturing plant…VINACONEX has continued its preparation for new investment projects in industrial and construction material production such as Xuan Minh hydropower project, aerial concrete manufacturing plant, compressed fuel tablets manufacturing plant, block bricks manufacturing factory….

Trong những năm vừa qua, VINACONEX đầu tư vốn lớn vào những dự án không phải là thế mạnh và không hiệu quả, đặc biệt là dự án Xi măng Cẩm Phả, một số dự án thủy điện như Thủy Điện Ngòi Pháp, Thủy điện Lào Cai….Các dự án này tổng mức đầu tư vốn lớn, thời gian thi công hoàn thiện kéo dài trong khi nguồn vốn đầu tư chủ yếu là nguồn vốn VINACONEX đi vay ngân hàng với mức lãi suất cao nên không hiệu quả làm giảm lợi nhuận của VINACONEX.

Growth in the period 2008-2010

Along with the growth in turnover and total assets, the business results also witnessed a remarkable growth with profit after tax in 2010 reached VND 466 billion, increased 29% over the year 2009.

Financial indicators of VINACONEX Corporation in period 2008-2010

Hence, the corporation needs to divest or sell out Lĩnh vực “ dấu hỏi”: Lĩnh vực Dịch vụ , việc đầu tư một số các dự án Khu du lịch, Trung tâm thương mại, Khách sạn, trường học….các lĩnh vực này đầu tư vốn lớn, thời gian thu hồi vốn chậm cùng với rủi ro tài chính, kinh nghiệm quản lý thiếu chuyên nghiệp nên không hiệu quả nên VINACONEX cần thoái vốn hoặc bán. Therefore, VINACONEX needs to divest from ineffective projects such as Cam Pha Cement, Lao Cai hydropower plant…and just keep some projects which support the contruction and real estate sectors such as high ranking decorative stones, prestressed concrete… Nhóm sản phẩm “chú chó”: Lĩnh vực sản xuất công nghiệp, vật liệu xây dựng, đây là lĩnh vực đầu tư vốn lớn, thời gian đầu tư. Renovate technology in construction in order to develop distinguished products with high competitiveness Đổi mới công nghệ trong lĩnh vực xây lắp tạo sản phẩm khác biệt có tính cạnh tranh cao (Strategy of centralized diversification)Chiến lược đa dạng hóa tập trung) Strategy of training high quality labor for labor exporting business (Strategy of products quality improvement) Chiến lược nâng cao chất lượng sản phẩm).

Make use of advantages in reputation, capacity to seek for qualified domestic suppliers to ensure the quality, limit the importation to cut down cost of production and to lower the power of foreign suppliers (Strategy of seeking for new supplier) Impoving the effectiveness of management, save cost, lower the product cost to compete with other competitor in the same business (Strategy for cost. In term of Real estate sector, concentrate in high quality projects such as Splendora, N05…to create distinguish features for products, to lower product price in order to increase competitivenessĐối với lĩnh vực bất động sản, tập trung vào những dự án chất lượng cao cấp như Spendora, N05….tạo sự khác biệt về sản phẩm hạ giá thành sản phẩm tăng tính cạnh tranh. However, real estate traders confess that it is not always ensure the success of investment in apartments in tourism real estate projects because this segment depends greatly on both domestic and international economic stability, the development of infrastructure, weather, climate, services and appropriate economic development strategies of locals.

Economic, Financial strategy

VINACONEX continued with the implementation of N05 project wih 2 blocks of 29 storeys and 2 blocks of 25 storeys (currently, the entire basement, 6 floors, and entire framework has been completed) This is a good example for the application of synchronous technological strategy and scope of project at VINACONEX. The early completion of in-progress projects being implemented is necessary to havegenerate more cash flow from business operations in these projects; nevertheless, , but the deployment of new investment projects should be weighedconsidered carefully and applied performance to slow down schedule prolonging if needed.should be applied upon requirement. Until the present time, thesuch development model has been showeding the negative aspectseffects: production and business activities expanded rapidly but did not go into depth, did not create business advantage with competitors at the same sector, loansborrowed fund caused much pressures on the financial cost and cash flow.

 On the basis of the Corporation’s business plan for the period 2010-2015, the demands for capital was set up and balanced from available funds, fund added from annual business surplus, from sales of projects, from mobilization and borrowings, bonds issuing…in order to ensure the adequate funds for Corporation’s strategic objectives, giving priorities to housing development.

Strategy of human resource development

The Corporation will concentrate and optimize financial resources in order to implement the program on housing in accordance with the Party and Government’s guideline “Take part in regulating the housing market in Vienam, replicate the model of synchronized and modern urban areas in locals nationwide”. In the following years from 2012, VINACONEX will promotes real estate business activities forbecause the VINACONEX hasowns many large real- estate projects such as the ongoing urban project of Splenldora whichwtih the total area of 264ha, the urban area of Trung Van, Nam Cau Thi Li - Da Nang, Tay Mo, Dai Mo (234ha). Trong các năm tiếp theo từ 2012, VINACONEX đẩy mạnh hoạt động kinh doanh bất động sản vì hiện VINACONEX có nhiều dự án bất động sản rất lớn như khu đô thị Spenldora đang triển khai tổng 264ha, khu đô thị Trung Văn, Nam Cầu Thị Lý – Tp Đà Nẵng, Tây Mỗ, Đại Mỗ (234ha) nên trong các năm tiếp theo đang triển khai nên dự án quy mô lớn.

Along with macro assignments in order to develop action plan for specific unitspecific unit, the assignment of “ Developing business strategy for VINACONEX in period 2011- 2015” Propose appropriate strategy, action plans for the Corporation and offer a source of references for other company in the same business.