Message from Chairman

Mr. Nguyen Quang Huan - Chairman of Halcom Vietnam Jsc.

Dear Valued Shareholders, Partners, Customers and all employees of HALCOM,

The third decade of 21st century has come. We also celebrate the 20th anniversary of HALCOM in 2021. A lot of significant meanings for the New Year are coming. On behalf of the Board of Directors and the Board of Management of the Company, I would like to say Happy New Year to you – our Valued Shareholders, Partners, Customers and all Halcom members. Wishing you and your family a New Year filled with happiness, luck and success!

Dear friends! We have gone through the year 2020 with great efforts, yet it is great to bring the two renewable energy projects into operation on time: the 21 MW Phuong Mai 3 wind power project which came into operation since January 2020 and the 35 MWp Hau Giang solar power project which officially achieved COD at 2:00 pm, 26th December, 2020. The Nhon Hoi Water project missed the ground breaking on 15 December, 2020 for some certain objective and subjective reasons, but the construction definitely begins in early 2021 to keep up with the water supply scheme at the end of the year. We’ve got the investment policy approval for the Phuong Mai 3 Resort project and hope to start the construction in mid 2021. In the next 3-5 years, we will continue to develop wind and solar power, waste to energy, water supply and drainage projects with a total investment of over 1 billion USD, or more than 20,000 billion dongs. Keeping persistent in the sustainable development orientation, there are more and more credible partners from developed economics to cooperate with us in long term with mutual benefits, so that we contribute to build Vietnam better.

Regarding the consulting activities, we could not keep the fast speed development as before the ban of the World Bank in 2013, however, we’ve found a new way to thrive recently. We have a clearer view of the way to go that is to be the consultant for our own  projects. Why not? Currently, we are doing partly consulting works of our projects due to the lack of employees. We only have 2 consulting departments for Transportation and Socio-environment converted from the previous Hal-Infra and Hal-Green. After filling all positions on the basis of the new Company Structure, we’ll be more active in project implementation and surely bring more stable revenue for consulting sector. Another bright spot in consulting is HALCOM won a consulting bid in Laos. Though the Board of Management decided to not sign this contract due to managerial and financial risks, this occurrence shows that we can reach out to the Southeast Asia region. We just need more time and ingenuity in choosing the bidding package.

For the company structure and human resource, we’ve restructured the company base on the value chain, , exactly the same as before the debarment, which is distracted for some years. Organizing bases on value chain is a scientific management following business administration model of US and proved to be successful in HALCOM during 2009-2013. Unfortunately, over the years it has been forgotten, with the weakness of strategic management that sometimes makes us confused in running the company. However, running company with a new model structure smoothly, it always takes time and needs middle management team to understand the approach and unanimously applies management science in operation. We now have our CEO Saurabh Mathur and Acting COO Olli Keski-Saari, who are familiar with the European-American management style, nonetheless they still need great partners to work efficiently in Vietnamese culture. HALCOM culture with 4 core values integrates both Vietnamese and Western cultures. We need more training and many internal activities together for old and new employees to understand each other better, the business philosophy of “Profits should not be pursued by all means”, the CCP values and 4 core values: Integration – Discipline – Creativity – Competitiveness. With common cultural awareness, we will look in the same direction. With a common scientific management approach, we will make the company operate efficiently and reach the civilized world. The question is how to make all the people from different regions of the world, different ages, different genders and with different perspective can look into the same direction and move on the same path without training? Training programs should be initiated and led by professional and reputable experts. We must regularly organize training sessions at least once a year or even every 6 months for the whole staff of the company. In addition, in-depth training courses, even for individuals only, are necessary to develop a stronger team on the basis of human strategy.

There are a lot of works for us to do, a lot of obstacles to overcome. Doing business is hard, doing business with integrity and embracing new technology for competitive advantage is much harder. It’s not easy to do exactly what we say, to prevent our pride and dignity from getting vulnerable; but we have already selected our way and we’re proud to be the pioneer on that way: the inevitable way to success!

I strongly believe that because new opportunities are coming to us. Our leadership team is stronger and more professional than ever. Our weaknesses have been pointed out. Our strength is being encouraged to make differentiations. We are differentiated in both Investment and Consulting. Differentiation sometimes makes us hard, but it leads to the achievements. Following these results, I believe that in 2021 we will be even more successful.

There is only approximately 1 month left to Tet holiday, then instead of conclusion, I would like to offer to all of you a couple of parallel sentences as following:

A hard efforts Canh Ty year came and left

A prosperous Tan Suu year visits us again

With best regards,

Nguyen Quang Huan