VIET NAM CONSTRUCTION AND IMPORT - EXPORT JOINT STOCK CORPORATION

VIET NAM CONSTRUCTION AND IMPORT - EXPORT JOINT STOCK CORPORATION (TỔNG CÔNG TY CỔ PHẦN XUẤT NHẬP KHẨU VÀ XÂY DỰNG VIỆT NAM), more commonly known as VINACONEX., JSC, is one of Vietnam’s most established construction and infrastructure corporations. Established on December 1, 2006, and registered under Business ID 0100105616, the company operates under the joint stock model and is publicly listed on the HOSE stock exchange with the symbol VCG. Its headquarters is located at VINACONEX Building, No. 34 Lang Ha Street, Dong Da District, Hanoi, with branch offices in both Ho Chi Minh City and Da Nang, supporting a nationwide footprint across real estate, civil infrastructure, and engineering services.

In 2024, VINACONEX., JSC reported robust figures: USD 528.75 million in revenue, a 1.31% increase year-over-year, and a net profit of USD 45.54 million, which marks a dramatic 179.59% jump from the previous year. The company’s total assets stood at USD 1.21 billion, with owner’s equity rising to USD 456.68 million. The sharp earnings rebound in 2024 is a positive reversal from the 57.41% drop in profit seen in 2023. Additionally, working capital reached USD 196.23 million, suggesting a healthy liquidity position and operational flexibility. However, total assets have now declined for two consecutive years (down 4.08% in both 2023 and 2024), reflecting possible contraction in long-term project investments or asset restructuring.

From a risk management perspective, while profitability and equity have improved, VINACONEX’s declining asset base signals a cautious capital allocation strategy—or potentially reduced new project onboarding—despite growing earnings. This might suggest a more defensive financial posture amid market uncertainty, especially considering the company’s exposure to large-scale infrastructure, real estate, and quarrying operations—industries highly sensitive to regulatory delays, land disputes, and macroeconomic cycles. The ownership structure is also notable: PACIFIC HOLDINGS INVESTMENT JSC holds 45.14% of the shares, while 54.86% is distributed among other shareholders, meaning no single controlling block dominates—offering governance stability, but possibly slower strategic decision-making.

Led by Chairman cum Vice General Director Mr. Nguyen Huu Toi and General Director Mr. Nguyen Xuan Dong, VINACONEX., JSC continues to anchor some of Vietnam’s most critical civil engineering and infrastructure projects. For investors, contractors, and financial institutions, Vanguard Business Information LLC (VBI) provides comprehensive due diligence reports on the company, delivering insight into financial strength, project risk, and ownership transparency. As Vietnam accelerates infrastructure development under its national growth strategies, VINACONEX., JSC remains a pivotal—but not risk-free—player to watch.