IDICO combines industrial and infrastructure development
Highlighting the motto “Developing through investment”, IDICO has proposed investment in many projects including building the infrastructure for industrial zones, urban and residential areas, power systems, transport works and construction material production. The corporation has undertaken the construction of many projects with high values. All projects which were implemented by IDICO are of high quality, through which the corporation has won customer trust. Today, IDICO is known as a leading Vietnamese business in the field of infrastructure construction and power system installation.
IDICO General Director Nguyen Van Dat said of the social housing projects aiming to provide accommodation for low-income people such as students, poor people and workers, the corporation found that housing for workers was most necessary. Therefore IDICO decided to invest in the construction of housing for workers. “Workers earn very low incomes while they have to cover all living expenses, so their lives are very poor and hard. Meanwhile, many complicated social problems have arisen in the areas where workers live in boarding-houses. Social infrastructure facilities such as kindergartens and policlinics are lacking. In 2003, IDICO invested in building two housing-for-rent projects to provide accommodation for workers,” he said. The corporation has asked for permission to build housing for sale to workers at prices ranging from VND150-250 million per a 36sq.m apartment. IDICO will strictly manage the sale of housing for workers to prevent speculation.
Nguyen Van Dat added that to ensure the feasibility of this project, IDICO has asked for permission to enjoy some preferences indicated in Decision 66/2009/QD-TTg and Decision 67/2009/QD-TTg dated April 24, 2009 of the Prime Minister, including an exemption from land use charges and land rent, corporate income tax and value added tax preferences, access to preferential credit capital sources and loans from housing development funds or housing saving funds. The corporation expects the Government will create favorable conditions for workers to seek preferential loans to buy a house.
In 2012, IDICO successfully fulfilled its tasks with some of its targets exceeding the results of 2011. The corporation’s production and trade value reached over VND8.27 trillion, revenue more than VND6.21 trillion, pre-tax profit VND290 billion, and tax payment VND513 billion. IDICO received many awards from the State, the Government and the Ministry of Construction, including a Third-class Labor Order, a high-profile banner and a certificate of merit from the Prime Minister, and a high-profile banner and a certificate of merit from the Ministry of Construction. In 2013, the corporation continues to respond to role-model campaigns to fulfill its political tasks and achieve the production and trade targets set for the year