Differences that make the name 168

Chairman Nguyen Ngoc Hoa shared that although 168 Construction Group Joint Stock Company was "born later" than other State-owned corporations, it will choose its own path based on differences in technology, human resources, and methodical investment "slowly but surely" to become a strong enterprise in the field of transport infrastructure construction and installation like the "red elder brother" Cienco1 before.

From being a subcontractor…

- More than 10 years since you first entered the transport infrastructure construction market, looking back at those days, what do you remember most?

168 Vietnam Construction Group Joint Stock Company started out as a subcontractor for state-owned traffic construction corporations (Ciencos), especially Cienco1 at the Phap Van - Cau Gie, Hanoi - Thai Nguyen projects...

In 2013-2014, BOT projects flourished, we continued to participate in a number of other projects such as: Project to renovate and upgrade National Highway 1A, Binh Dinh - Phu Yen section.

After those projects, the company began to participate in bidding, "playing the role" of main contractor in some projects such as: Pleiku bypass, National Highway 30 Dong Thap ...

Mr. Nguyen Ngoc Hoa reported on the construction progress of the Chanh River Bridge, part of the road project connecting Ha Long City with Bach Dang Bridge in Quang Ninh province, during the visit and inspection of the project by General Secretary Nguyen Phu Trong in April 2016.

The growth journey of 168 Construction Group Corporation cannot be separated from the valuable experience gained at Cienco1 - an investment strategy focusing on science, technology and people.

These are two key factors in the context of meeting the great economic development needs, Cienco1 has become the first unit in Vietnam to receive the transfer of cantilever technology at Phu Luong Bridge; The first contractor to design and construct Rach Mieu 2 Bridge - the first cable-stayed bridge in the country and present on a series of other modern bridge projects such as: Tran Thi Ly Bridge, Dragon Bridge, Da Nang Swing Bridge, Vam Cong Bridge, Cao Lanh Bridge.

From that experience, 168 Construction Group Joint Stock Company has made a breakthrough in science and technology when coordinating to implement projects applying new technologies such as: Scraping and recycling technology in the project to renovate and upgrade National Highway 5; Highway surface roughening technology in the Hanoi - Hai Phong project.

To the difference in technology and people

- Looking back on that journey, in your opinion, what is the most outstanding mark that 168 Vietnam Construction Group Joint Stock Company has achieved?

This breakthrough helped 168 gain a difference and competitive advantage in times when traffic contractors were competing fiercely in the market. Then in 2015, for the first time, the company participated as the leading contractor of a joint venture to construct a highway project with the Ha Long - Van Don expressway project, completing a contract value of more than 500 billion VND. Then, it won bids for many other projects such as: Cam Lo - La Son (work value of more than 100 billion VND), Van Don - Mong Cai expressway (value of more than 500 billion VND), and construction of the Bach Dang bridge project.

Mr. Nguyen Ngoc Hoa, Chairman of the Board of Directors of 168 Vietnam Construction Group Joint Stock Company, reported on the construction progress of Dong Viet Bridge connecting Bac Giang and Hai Duong provinces.

At the North-South Expressway project phase 2, the company is the leading contractor of the consortium appointed to construct packages XL12 and XL13 of the Quy Nhon - Chi Thanh project (valued at over VND 800 billion).

Most recently, it won the bid for the Tuyen Quang - Ha Giang expressway project (valued at VND 1,270 billion, value undertaken at VND 970 billion), and was assigned to construct the Khanh Hoa - Buon Ma Thuot expressway project in Khanh Hoa province as the investor. In this project, 168 Construction Group Joint Stock Company and other contractors have committed to a 10-year warranty on the project.

- Increasingly affirming its name in transportation projects from small to large, how has the scale of 168 Construction Group Corporation changed, sir?

It can be said that, along with the growth in the scale of participating projects, 168 Vietnam Construction Group Joint Stock Company is also having strong growth in internal strength.

If in the early days, the human resources and machinery capacity were modest with basic machinery and equipment for foundation and surface work such as: rollers, shovels, bulldozers (two foundation lines, one surface line) only helping the company get bid packages worth 30-40 billion VND, now, 168 Construction Group Joint Stock Company has enough machinery, equipment and human resources to simultaneously implement 7-8 projects worth 300-1,000 billion VND.

From the early days of establishment, the owner's equity was only 10 billion VND, the number of employees was only 40-50 people, but now, the owner's equity of the enterprise has increased to 200 billion VND, the total number of employees has increased to over 300 people.

The name contains a golden age

- Going back to the early days, what motivated you to hatch the idea and decide to establish 168 Construction Group Corporation?

168 Vietnam Construction Group Joint Stock Company was established in 2012. At that time, key projects of the transport sector were still mainly assigned to Cienco. The number of private enterprises in the field of transport infrastructure construction was very small.

However, grasping the future trend, construction enterprises will develop in the direction of privatization and equitization, Construction Group Corporation 168 was established with the initial predecessor being an affiliated company to construct a number of projects of Cienco, especially Cienco1.

The birth of enterprises like 168 aims to compensate and support the shortage of State corporations in terms of machinery, equipment, and human resources in the context that corporations face certain limitations in investing in motorbikes and equipment. When investing, it is necessary to make a project and wait for capital allocation, which takes a lot of time.

168 Vietnam Construction Group Joint Stock Company participates in the construction of Ha Long - Van Don expressway.

- What about the name 168, why when establishing, many businesses choose a very beautiful name, but you chose for your business a name associated with a number?

That is a very interesting question and many people have asked me that. Everyone knows that my big launching pad is at Cienco1. A long journey with Cienco1, I have worked with Cienco6, Cienco8. Another reason is that all member units of Cienco1 start from number 1.

Therefore, when establishing the company, my colleagues and I chose the name 168. That name contains the golden age of the transport industry, helping us to remember our starting point, remember a vibrant period of key units in the transport industry to confidently achieve the goals set in the future.

Go step by step to accumulate and master

- Can you share more clearly the goals of 168 Vietnam Construction Group Corporation in the coming time?

As mentioned above, at this time, 168 Vietnam Construction Group Joint Stock Company is mastering most of the road construction technologies.

On that basis, the company's goal will be to become a strong enterprise in road construction; small and medium bridge projects worth 200-300 billion VND; road projects worth up to 1,000 billion VND and more.

168 Construction Group Joint Stock Company participates in the construction of Bach Dang Bridge.

Implementing the strategy of infrastructure breakthrough, including transport infrastructure, identified by the 13th Party Congress, a series of major transport projects have been and are being planned and implemented. These are not only highways but also railways, airports, and ports.

Recognizing that the workload of the transport industry is still very large, we have begun to research railway construction technologies in the world.

In the trend of major infrastructure development, the transportation system in big cities is expected to have many subway lines to solve traffic congestion. Company 168 also aims at road tunnels and metro tunnels to expand job opportunities and build an increasingly strong business.

To realize the above goal, the company will start from small projects as a subcontractor or joint venture contractor to gradually learn and accumulate experience.

- Does that mean that 168 Vietnam Construction Group Corporation is determined to go step by step, not in a hurry to get the project at all costs?

That's right. I always believe that if you want to do big things, you have to start small. It's like the path that 168 Construction Group Corporation has taken, starting from a subcontractor, through the process of accumulation and demonstrating capacity, gradually moving to a named subcontractor and then to the main contractor.

That not only helps businesses have a foundation, solid steps, gradually mastering finance, technology, human resources, equipment, but also is the basis to fully meet the regulations on bidding law, both in terms of capacity, management experience, and finance.

"Playing two roles" when there is a potential project

- In the context of transport infrastructure requiring a large investment resource, the State has determined to diversify capital mobilization channels, the public-private partnership mechanism may become active again, becoming an attractive "piece of cake". Have you ever thought about taking on the role of investor in addition to the role of construction contractor?

First of all, it must be affirmed that the PPP investment model for transport infrastructure is an inevitable trend, which has been implemented by many developed countries.

As for 168 Construction Group Corporation, we understand that to master the game, we must be investors in a spirit that is appropriate to our capabilities and in accordance with the provisions of the law.

In the future, if the project is identified as feasible, the company will conduct a serious and comprehensive study to call for other investors to join the project. In other words, if there is a potential transportation project, 168 Vietnam Construction Group Corporation is ready to "play two roles", both as a construction contractor and calling for cooperation to become an investor.

- Coming from a famous unit in the transportation industry, what is your ambition at 168 Vietnam Construction Group Corporation?

Having been involved in the transportation industry for nearly half of my life, I have witnessed major changes in the industry, the decline of transportation businesses and the rise of private businesses.

Born as a student of the transportation industry and passionate about it, loving it, my wish is to be able to build a large enterprise with my colleagues, a large 168 Construction Group Corporation like Cienco1 in the past but with a different mindset, strategy, and more integration.

The core value we aim for is that to make a profit, we must have breakthroughs in science and technology, good machinery, fewer people, higher labor productivity; must work overtime, increase shifts, shorten construction time to optimize costs, creating momentum for businesses to develop more sustainably.

Thank you!

Source: https://www.baogiaothong.vn/nhung-khac-biet-lam-nen-ten-tuoi-168-192231010193256887.htm