Mr. Pham Viet Khoa, Chairman of the Board of Directors of FECON Corporation, shared about the opportunities and strategies of the enterprise in the new period.

Mr. Pham Viet Khoa, Chairman of the Board of Directors of FECON Joint Stock Company.

How do you evaluate the Government's trend of promoting public investment in the coming time?

The Government has identified public investment as the main driving force to promote economic growth, reduce logistics costs and enhance national competitiveness. This creates great opportunities for infrastructure construction enterprises, especially in the context that Vietnam is preparing to implement a series of important projects with a total public investment capital of up to millions of billions of VND.

In the period of 2025 - 2035, Vietnam will promote the construction of transport infrastructure with large-scale projects such as the North-South high-speed railway, the North-South expressway phase 2, Long Thanh international airport and a series of key seaports. In addition, the urban railway system (Metro) in Hanoi and Ho Chi Minh City is also in the implementation plan with a total investment of about 120 billion USD.

The implementation of these projects not only helps improve infrastructure connectivity and boost the economy, but also creates a huge amount of work for infrastructure construction enterprises and related supporting industries.

In your opinion, how will construction contractors benefit from this wave of public investment?

For contractors, public investment not only brings abundant work but also an opportunity to improve their capacity and position in the industry. Enterprises can participate in large-scale projects, accumulate experience, develop technical and technological capacity and enhance financial potential, thereby improving their competitiveness both domestically and internationally.

In addition, when the Government increases public investment, capital will be disbursed faster, helping to improve cash flow for contractors, reduce financial pressure and create conditions for businesses to expand their scale. If there are reasonable support policies such as ordering, designating contractors or prioritizing domestic contractors, Vietnamese businesses will have conditions for sustainable development and reduce dependence on foreign contractors.

FECON Joint Venture as a member has just won the bid for construction, equipment installation and construction drawing design of the Parking Lot of Component Project 3 worth more than 3,143 billion VND at Long Thanh International Airport.

What policies do you think the Government has had to support businesses in general and contractors in particular?

The government has implemented many solutions to facilitate businesses. One of the important moves is that credit growth is expected to reach 16% in 2025, the highest level in many years, helping businesses easily access capital to implement large projects.

In addition, the revised Law on Public Investment focuses on decentralizing authority, adjusting project classification criteria and strengthening capital monitoring, helping to speed up disbursement progress and overcome existing problems.

In addition, Resolution 18 on streamlining the administrative apparatus will help increase the development investment budget and improve the efficiency of using public investment capital. These policies not only promote project progress but also create more opportunities for construction enterprises such as FECON to participate in key national projects.

In your opinion, do Vietnamese construction enterprises have enough capacity to participate in large projects such as Metro or high-speed railway?

I believe that Vietnamese infrastructure construction enterprises, especially those with advanced technology like FECON, are fully capable of undertaking key infrastructure projects. If domestic contractors join together and coordinate with each other to form large groups, the implementation of complex projects will become more feasible.

I hope the Government will give priority to bidding and placing orders, assigning tasks to domestic enterprises to carry out large projects. When domestic enterprises play a key role, they will take full responsibility for quality, progress and cost, while increasing the localization rate and developing the infrastructure construction industry.

For areas or stages that we have not mastered, we can cooperate with international contractors or hire foreign experts to receive technology transfer, gradually improving the capacity of Vietnamese personnel. This is the method that China and many other countries have applied to develop the transport infrastructure industry over the past three decades.

FECON is currently the only Vietnamese contractor participating in underground construction for the Metro Line 3 project in Hanoi.

What strategy does FECON have to take advantage of opportunities from this wave of public investment?

FECON has developed a strategy for infrastructure construction development for the period 2025 - 2030, focusing on three main areas: transport infrastructure, environmental infrastructure and energy infrastructure. We have invested heavily in equipment, technology and human resources to be ready to participate in large projects, especially those requiring high technical requirements such as coastal foundation treatment, tunneling with TBM, construction of large load-bearing piles and production of infrastructure components using modern technology.

In addition, FECON is also expanding international cooperation with partners from Japan, Korea, Singapore, Hong Kong and China to access advanced technology, improve construction and management capacity. This cooperation not only helps us expand investment opportunities but also plays an important role in technology transfer and improving competitiveness.

With the increasingly large scale of projects, what solutions does FECON have to ensure capital?

Currently, FECON still ensures capital for the development of the enterprise. However, to prepare for larger-scale projects, we have planned to attract foreign investors with strong financial potential, and at the same time seek cooperation opportunities under the public-private partnership (PPP) model in large-scale infrastructure projects.

With careful preparation, clear strategy and support policies from the Government, I believe that FECON and Vietnamese infrastructure construction enterprises will have the opportunity to break through and affirm their position in key national projects.

According to forecasts, the period of 2025 - 2035 and the following years will witness the explosion of key infrastructure projects with public investment capital of up to millions of billions of VND, including the North - South high-speed railway project, with a total investment of about 1,713,548 billion VND (equivalent to 67.34 billion USD), expected to start construction in 2027 and be completed in 2035; North - South expressway project phase 2, with a total investment of 147,000 billion VND; Long Thanh International Airport, with a total investment of 336,630 billion VND; Construction of the urban railway network (metro) in Hanoi and Ho Chi Minh City with a total investment of about 3,065,100 VND (equivalent to more than 120 billion USD).