SAIGON WATER CORPORATION

SAIGON WATER CORPORATION, known in Vietnamese as Tổng Công Ty Cấp Nước Sài Gòn - Trách Nhiệm Hữu Hạn Một Thành Viên (abbreviated as SAWACO), is a state-owned enterprise responsible for water supply management in Ho Chi Minh City. Since its establishment on September 20, 2010, SAWACO has played a vital role in ensuring the provision of clean and treated water to millions of residents and businesses. Registered under the business identification number 0301129367, SAWACO operates under the ownership of the People’s Committee of Ho Chi Minh City, which holds 100% of the shares. The company’s headquarters is located at No. 1, Cong Truong Quoc Te Street, Vo Thi Sau Ward, District 3, Ho Chi Minh City, Vietnam.

As of the end of 2022, SAWACO employed over 4,000 personnel, a figure that reflects the large-scale nature of its operations. The leadership team is composed of experienced executives, including Chairman Duong Hong Nhan, General Director Tran Quang Minh, and Deputy General Director Nguyen Van Dang. Their strategic direction guides SAWACO through the complexities of urban water management in one of Southeast Asia’s most dynamic cities.

Financially, SAIGON WATER CORPORATION has faced a challenging year in 2023. The company reported total assets of 471.2 million USD, a significant drop from 548.7 million USD in the previous year. Owner’s equity also declined to 296.7 million USD, while revenue dropped from 274.5 million USD in 2022 to 221.4 million USD. The most notable decline was in profit, which fell sharply to 33.0 million USD—a 29.57% decrease compared to the previous year. These figures reflect a downward trend across all key financial metrics, indicating that SAWACO is operating in a more constrained environment than in previous years.

Despite the financial setbacks, SAWACO remains operationally active and essential to the functioning of Ho Chi Minh City. Its core responsibilities include the management and development of water supply infrastructure, as well as the production and distribution of clean water for both domestic and industrial use. In addition to its primary activities, SAWACO is also registered to engage in a wide range of related services, such as construction material trading, architectural and engineering consultancy, property management, and vocational training.

SAWACO's facilities are strategically located throughout Ho Chi Minh City, with major sites in Hoc Mon District, District 10, and Thu Duc City. These operational bases support the corporation’s ability to provide consistent water service to a population exceeding nine million residents. However, the recent financial data raises important questions about long-term sustainability, operational efficiency, and capital management within the organization.

In conclusion, SAIGON WATER CORPORATION stands as a cornerstone of public infrastructure in Vietnam’s largest city. While its strategic importance is unquestionable, the financial downturn in 2023 suggests that reforms may be necessary to ensure continued growth and service reliability. For those interested in conducting a deeper risk assessment, business verification, or financial analysis on SAWACO or any enterprise in Vietnam, Vanguard Business Information LLC (VBI) offers comprehensive due diligence services. Visit www.vnbis.com to explore detailed reports and verification tools that help businesses make informed decisions in today’s complex economic environment.