Upstream with Powerful “Da River Nature”

Slogan of Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (Sudico) is very impressive: “Confident to reach unreachable targets.” This saying is depicted by the much-sweated journey to success of Engineer Vi Viet Dung, General Director of Sudico.

From a buffalo boy…

His parents were teachers who lived in Chi Khe commune, Con Cuong district, Nghe An province but he lived with his uncle in Bac Kan province since his childhood. He tended buffalos, cut grass and wood and did other works. In 1976, Vi Viet Dung was admitted into the Hanoi University of Technology and he chose the Oil and Gas Department. In 1982, he graduated and worked for the Construction Company No. 6. Several years later, he was sent to the Hoa Binh hydropower project. Since then, he started a new life attached to the ups and downs of the hydropower industry.

He worked as a technical engineer, a team leader, a foreman of Mechanical Enterprise – a unit of Water Constructional Work Company (a member of Song Da Corporation) and a deputy director of Water Constructional Work Enterprise 3. He shared everything with his workers, from a cigarette to cassava roots. He never had any discrimination to working tiles and positions. He worked in all important positions such as water intakes, spillways, engine chambers, transformer chambers and way-out tunnels, etc. Under the instruction of Director of Water Constructional Work Company, Nguyen Hong Quan, who is currently Minister of Construction, is an imperturbable and modest but determined leader.

…to empty-pocket general director

In 2002, Vi Viet Dung was assigned to build Ea Krong Rou hydropower plant in Khanh Hoa province, the first of its kind in southern central region. The project had a total investment capital of nearly VND500 billion but he was allowed to bring VND800 million with him! However, with his ability and resourcefulness, he was still the decisive figure in setting up the Mien Trung Power Development Investment Joint Stock Company with two other founding shareholders.

The Ea Krong Rou hydroelectric plant was constructed in extremely difficult conditions: Main dam at over 40m in height, nearly 260m in length with a slope angle of 58 %, and a cross-mountain tunnel. But, this was a place for him to show his technical competency but also his nature as an excellent manager. This was the first time a hydropower plant in Vietnam to be built with the “construction first, machines later” method, in which the constructor built the infrastructure before the turbine was installed to keep up with the construction schedule. This was also a hydroelectric plant to be completed within two years. Even, he helped save VND80 billion of investment capital in this project. As the President of the Board of Directors, he has helped multiply the State capital, led his company to complete many projects, and generated a large sum of profit each year.

Upstream for a new chapter

In October 2008, Vi Viet Dung was unexpectedly appointed the General Director of Sudico, with a score of challenges. Disunited leadership and stagnant production in couple with negative impacts of the global economic crisis, tax debts amounted to over VND200 billion while profits attained only equalled to 27 % of the initial target in 2008. However, at the introductory ceremony at Sudico, he delivered a speech in a light and moderate voice but the message was very courageous: “I hope to open a new chapter in Sudico history.”

Together with the Board of Directors and the Board of Managers, he studied and amended regulations of the company. He demanded tighter management over capital sources and worked with the Board of Directors to pick up higher priority projects. One of the priorities is to attract investment capital and reinvest in infrastructure in An Khanh Urban Zone, one of the most beautiful urban zones in Vietnam to date

After one year under the management of Mr Vi Viet Dung, Sudico paid not only all the old loans but also but tax debts of VND1200 billion. At present, the company is placing nearly VND1,000 billion in the bank. After nine months in 2009, Sudico made a profit of more than VND400 billion, surpassing the target of VND370 billion set for the whole year, and is expected to earn VND600 billion in the year. The company also plans to hike its chartered capital from VND400 billion to VND1,000 billion.

He has personally won many diplomas of merits from the Ministry of Construction, the Prime Minister (in 2005, 2006, 2007 and 2008) and the third-class Labour Medal (2007) but when he was asked about the future, he only talked about the dreams for the company’s future. He hoped to lead the company to develop into a powerful “Song Da – Urban” trademark. “I only hope to collectively win the Labour Medal with Sudico’s staff and to make the company the Labour Hero in the Renovation Process,” he said.

Tags: Vietnam business news, Vietnam enterprise