INDUSTRIAL DEVELOPMENT INVESTMENTS JOINT STOCK COMPANY

INDUSTRIAL DEVELOPMENT INVESTMENTS JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN ĐẦU TƯ PHÁT TRIỂN CÔNG NGHIỆP) is a privately held joint stock company with more than two decades of operations in Vietnam. Founded on July 30, 2002, and registered with the Hanoi Department of Planning and Investment, the company operates under Tax Code: 0101269906. It has established itself as an active trader in the steel and metal wholesale market, while also diversifying into manufacturing, civil construction, and heavy equipment services.

The company's main office is located at Room C0902, Central Point, No. 219 Trung Kinh Street, Cau Giay District, Hanoi, with additional representative offices in Hai Phong and other parts of the capital. With a charter capital of over USD 6.16 million and the same amount in paid-up capital as of the end of 2023, INDUSTRIAL DEVELOPMENT INVESTMENTS JOINT STOCK COMPANY (often referred to as INDECO JSC) engages in a wide array of business lines. These include the wholesale of metals and ores, manufacturing of steel and cast iron products, construction of bridges and civil engineering works, and machinery repairs. The company is also involved in mining activities, real estate trading, fertilizer production, and road freight transport.

Under the leadership of Mr. Nguyen K. K., who serves as the Director, the company employs approximately 50 personnel. Mr. Nguyen is also closely connected to the company’s major shareholders. Mr. Nguyen K. H., presumably a relative, holds a controlling 66.67% stake, while Mr. Nguyen K. T. owns 30%, and Ms. Nguyen T. M. T. holds the remaining 3.33%.

Despite its long-standing presence and diverse business operations, the company faced significant financial challenges in 2023. Total assets declined sharply by over 36%, dropping to USD 14.32 million. Total sales fell to USD 158.5 million, a 19.16% decrease compared to the previous year. Most notably, the company reported a net loss of USD 643,674, although this figure represented an improvement from the deeper losses of 2022. Equity was also significantly reduced to just USD 832,336, and the company posted negative net worth of approximately USD 474,703. Additionally, working capital was reported at a deficit of USD 1.47 million, underscoring liquidity concerns.

Nonetheless, INDUSTRIAL DEVELOPMENT INVESTMENTS JOINT STOCK COMPANY remains operational and active. Its extensive range of business licenses allows it flexibility to pursue opportunities across industries—from construction and metallurgy to logistics and event organization. The company’s future sustainability may depend on strategic restructuring or investment to restore financial health and unlock the value of its diverse capabilities and longstanding market presence.