BINH DUONG WATER - ENVIRONMENT CORPORATION - JOINT STOCK COMPANY (CÔNG TY CP - TỔNG CÔNG TY NƯỚC - MÔI TRƯỜNG BÌNH DƯƠNG): A Public Utility Giant Riding a Wave of Expansion

Few state-influenced enterprises in Vietnam’s utilities sector reflect such robust growth and balance sheet strength as BINH DUONG WATER - ENVIRONMENT CORPORATION - JOINT STOCK COMPANY. Known by its short name BIWASE, this publicly listed water and environmental services provider (stock symbol: BWE, HOSE) is an increasingly vital backbone for one of Vietnam’s fastest-growing industrial provinces.

Legally operating under tax code 3700145694, BINH DUONG WATER - ENVIRONMENT CORPORATION - JOINT STOCK COMPANY is headquartered at No. 11, Ngo Van Tri Street, Phu Loi Ward, Thu Dau Mot City, Binh Duong Province, Vietnam. The company has been active for over 19 years since its registration in 2006 and currently operates with 1,135 employees. Despite its large state-influenced shareholding, it runs with a high degree of operational professionalism, led by Chairman Mr. Nguyen V. T. and General Director Mr. Tran C. C.

The 2024 financial figures are striking across the board. Sales reached USD 162.65 million, a solid 9.42% year-on-year growth, while total assets soared 30.77% to hit USD 583.36 million. Perhaps more impressive, working capital quadrupled, up over 403% year-on-year, now totaling USD 44.19 million—a sign of excellent liquidity and financial management.

Equity performance is equally strong, with owner’s equity rising to USD 226.48 million, reflecting long-term capital stability and investor confidence. Net profit came in at USD 27.14 million, up 9.99% from 2023, recovering from the minor dip of the previous year. With a net worth of over USD 212 million, the company stands among the most financially solid publicly held infrastructure firms in Vietnam.

Beyond financials, BIWASE is deeply embedded in the local economy, operating water treatment, supply, and environmental waste management services throughout Binh Duong, with strategic branches in both Tien Giang and Tan Uyen City. Its business lines range from industrial water supply and sewerage treatment to construction and recycling services, giving it a diversified revenue base uncommon in the state-influenced utility sector.

Major shareholders include Thu Dau Mot Water Joint Stock Company (38.5%), and Investment and Industrial Development Joint Stock Corporation – Becamex IDC (25%), two influential entities in southern Vietnam’s infrastructure and industrial development. This backing not only ensures political and economic alignment but also a stable environment for long-term expansion.

In the context of Vietnam private financial data, BINH DUONG WATER - ENVIRONMENT CORPORATION - JOINT STOCK COMPANY is a textbook case of a semi-public enterprise successfully blending state participation with private sector discipline. It remains a benchmark for performance in Vietnam’s water sector and a low-risk profile from a business verification or credit risk management perspective.

With growing demand for clean water and environmental solutions, BIWASE is likely to continue flowing toward stronger revenues and deeper regional influence. Investors, suppliers, and municipalities alike should take note—this is a water company with deep wells of potential.