Ecoba Vietnam Joint Stock Company | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards

CORPORATE EXCELLENCE

Ecoba Vietnam Joint Stock Company

ECOBA Vietnam Joint Stock Company is an engineering, construction, and construction management company operating throughout Vietnam with headquarters in Hanoi. Established in the early 2000s, the reputation of Ecoba Vietnam has been confirmed through the success of large projects with leading domestic and foreign Employers and international EPC contractors. The company has a comprehensive range of construction services, divided into three key business segments namely, Building Construction, Industrial Construction, and Environmental Solutions.

  • Trusted Brand Name in Building Construction: The Company has extensive experience in the mid to high-end residential segment. The Company has also been able to secure contracts in many sizable projects by leading local and foreign developers. Having a strong brand name allows the Company to maintain a high client retention rate, in which 74% of building construction revenue comes from recurring clients.
  • Extensive Experience in Industrial Construction: The Company quickly established its position in a highly specialized niche market leveraging on its advantage as one of the first movers. It ranks first and third in the number of thermal power plants and industrial facilities constructed in Vietnam respectively, with some of the leading players in the industrial market.
  • Upside Potentials in Waste Water Treatment: With the extensive experiences of its construction manager for numerous industrial, urban and medical waste water treatment plants, the Company not only aims at construction, but also operating those plants.
The revenue of the company has grown sharply in recent years, such as 44.2% in 2016, and 77.4% in 2017. This year, its revenue is expected to double, as compared to the previous year, reaching over $220 million.

Parallel with its strong growth in revenues, Ecoba has focused on perfecting its corporate governance system which has improved its return on sales (ROS) over the years. In 2015, its ROS only reached 1.1%. It doubled to 2.2% in 2016, and 2.7% in 2017, catching up with leading companies in the industry.

The Company has established itself as a trusted and reliable contractor known for its flexibility and highquality work, thanks to its proven track record of delivering exceptional client services. Having worked on some of the most challenging projects in Vietnam, the Company is known to its clients as being flexible and resourceful, and praised for its ability to deliver quality results despite challenges faced in Vietnam’s construction industry.

Golden Key To Develop Strongly
Since 2014, Ecoba Vietnam has applied advanced management system successfully and has helped the enterprise have sustainable competitiveness capacities. Mr. Vo Tien Dat, General Director of Ecoba said: “At that time, the strategic vision developed by Ecoba is to become a company capable of alliance and international integration, welcome early in the trend of international integration”. As Mr Dat said, in order to achieve that goal, the application and learning of advanced practices will help the enterprise move faster and faster. After making the choice of development strategy, Ecoba has quickly embarked on the study of advanced management models in the world and invited consultants to deploy.

The comprehensive application of international standards management systems for corporate governance and project management helped Ecoba in being more proactive in its business and production activities, ensuring the achievement of objectives and plans, and risk reduction in all operations.

In fact, four years ago, it was proved that the initial choice of the Board of Directors has been correct. “The government system, just as a tool, is an important foundation for Ecoba to successfully implement its business strategy, effectively manage operations and control risks,” Mr Dat said. With the trust of its customers and the continuous awards of large projects, especially the high complex projects awarded by international customers, Ecoba’s revenue is constantly growing. The result was gained after the persistent journey of Ecoba applying its advanced management systems.

Change Of Thinking – A Readiness to Innovate
In response to the secret of Ecoba’s success, the Director of the enterprise shared: “Simply persist and focus on the strategy as set out, one of the important factors is always integrating dynamism, innovation, and creativity into the world.” In fact, the successful application of the new governance system requires the determination of the entire system from top to bottom - “Everyone, especially key personnel, must see the need for change”. The determination and the companion of experienced consultants has helped Ecoba revolutionise the governance technology successfully.

Hitting A Milestone
In 2014, when the five-year growth target was set up, the figure set up by the Board of Director for 2018 was $ 150 million (equivalent to VND 3,500 billion). However, this year the revenue is expected to hit $220 million, exceeding the target mentioned in the previous plan. For Mr Dat’s ideas and the entire Ecoba staff, that is a milestone marking the company’s breakthrough. According to him, “With this milestone, Ecoba will assert its capacity as a leading large-scale enterprise in the industry”.

Human Resources – The Key Factor to Achieve Effective Governance System
An international standardised system can only work well with responsible, adaptive, and persevering people. In Ecoba’s opinion, receiving consensus from its people who can persist in following the goal is the key its success. Continuous growth in revenue over the past three years has also led to a rapid increase in the number of Ecoba’s employees. Thanks to the well-organised governance system at all levels, it serves as a solid foundation for new employees to quickly adapt and respond to its daily work pressure.

The Company has a comprehensive human resources development strategy aimed at enhancing the quality of Ecoba’s staff internationally. This objective is carried through all HR related programs - from recruiting, training, rotation, to rewarding, creating a friendly working environment, developing a typical corporate culture for Ecoba.

Based on its solid governance system, Ecoba is confident with its future development plans. According to Ecoba’s leadership, the Company will continue to define construction as its core business. In addition, it will continue to improve its ecosystem in the construction bidding sector. Successful application of international standards in governance, approaching international standards, the story of Ecoba is typical of the Vietnamese private enterprise group in the integration period, ready to commit itself to approaching new affairs, and changing mindsets. It is considered an inevitable direction for the enterprise if it wants to fast and far.

Ecoba’s Milestones

  • 2007 - LIDECO 3 was established in 2007 as a subsidiary of LIDECO. 2010 Inherited history and experience from LIDECO, LIDECO 3 went private with key management personnel.
  • 2012 - Completed construction of the largest sewage treatment plant in Vietnam.
  • 2013 - LIDECO 3 JSC changed its name to ECOBA VIETNAM JOINT STOCK COMPANY.
  • 2015 – ECOBA succeeded in breaking into the fastest-
  • 2018 - growing sector and started its robust expansion phase.

CORPORATE EXCELLENCE

Ecoba Vietnam Joint Stock Company

ECOBA Vietnam Joint Stock Company is an engineering, construction, and construction management company operating throughout Vietnam with headquarters in Hanoi. Established in the early 2000s, the reputation of Ecoba Vietnam has been confirmed through the success of large projects with leading domestic and foreign Employers and international EPC contractors. The company has a comprehensive range of construction services, divided into three key business segments namely, Building Construction, Industrial Construction, and Environmental Solutions.

  • Trusted Brand Name in Building Construction: The Company has extensive experience in the mid to high-end residential segment. The Company has also been able to secure contracts in many sizable projects by leading local and foreign developers. Having a strong brand name allows the Company to maintain a high client retention rate, in which 74% of building construction revenue comes from recurring clients.
  • Extensive Experience in Industrial Construction: The Company quickly established its position in a highly specialized niche market leveraging on its advantage as one of the first movers. It ranks first and third in the number of thermal power plants and industrial facilities constructed in Vietnam respectively, with some of the leading players in the industrial market.
  • Upside Potentials in Waste Water Treatment: With the extensive experiences of its construction manager for numerous industrial, urban and medical waste water treatment plants, the Company not only aims at construction, but also operating those plants.
The revenue of the company has grown sharply in recent years, such as 44.2% in 2016, and 77.4% in 2017. This year, its revenue is expected to double, as compared to the previous year, reaching over $220 million.

Parallel with its strong growth in revenues, Ecoba has focused on perfecting its corporate governance system which has improved its return on sales (ROS) over the years. In 2015, its ROS only reached 1.1%. It doubled to 2.2% in 2016, and 2.7% in 2017, catching up with leading companies in the industry.

The Company has established itself as a trusted and reliable contractor known for its flexibility and highquality work, thanks to its proven track record of delivering exceptional client services. Having worked on some of the most challenging projects in Vietnam, the Company is known to its clients as being flexible and resourceful, and praised for its ability to deliver quality results despite challenges faced in Vietnam’s construction industry.

Golden Key To Develop Strongly
Since 2014, Ecoba Vietnam has applied advanced management system successfully and has helped the enterprise have sustainable competitiveness capacities. Mr. Vo Tien Dat, General Director of Ecoba said: “At that time, the strategic vision developed by Ecoba is to become a company capable of alliance and international integration, welcome early in the trend of international integration”. As Mr Dat said, in order to achieve that goal, the application and learning of advanced practices will help the enterprise move faster and faster. After making the choice of development strategy, Ecoba has quickly embarked on the study of advanced management models in the world and invited consultants to deploy.

The comprehensive application of international standards management systems for corporate governance and project management helped Ecoba in being more proactive in its business and production activities, ensuring the achievement of objectives and plans, and risk reduction in all operations.

In fact, four years ago, it was proved that the initial choice of the Board of Directors has been correct. “The government system, just as a tool, is an important foundation for Ecoba to successfully implement its business strategy, effectively manage operations and control risks,” Mr Dat said. With the trust of its customers and the continuous awards of large projects, especially the high complex projects awarded by international customers, Ecoba’s revenue is constantly growing. The result was gained after the persistent journey of Ecoba applying its advanced management systems.

Change Of Thinking – A Readiness to Innovate
In response to the secret of Ecoba’s success, the Director of the enterprise shared: “Simply persist and focus on the strategy as set out, one of the important factors is always integrating dynamism, innovation, and creativity into the world.” In fact, the successful application of the new governance system requires the determination of the entire system from top to bottom - “Everyone, especially key personnel, must see the need for change”. The determination and the companion of experienced consultants has helped Ecoba revolutionise the governance technology successfully.

Hitting A Milestone
In 2014, when the five-year growth target was set up, the figure set up by the Board of Director for 2018 was $ 150 million (equivalent to VND 3,500 billion). However, this year the revenue is expected to hit $220 million, exceeding the target mentioned in the previous plan. For Mr Dat’s ideas and the entire Ecoba staff, that is a milestone marking the company’s breakthrough. According to him, “With this milestone, Ecoba will assert its capacity as a leading large-scale enterprise in the industry”.

Human Resources – The Key Factor to Achieve Effective Governance System
An international standardised system can only work well with responsible, adaptive, and persevering people. In Ecoba’s opinion, receiving consensus from its people who can persist in following the goal is the key its success. Continuous growth in revenue over the past three years has also led to a rapid increase in the number of Ecoba’s employees. Thanks to the well-organised governance system at all levels, it serves as a solid foundation for new employees to quickly adapt and respond to its daily work pressure.

The Company has a comprehensive human resources development strategy aimed at enhancing the quality of Ecoba’s staff internationally. This objective is carried through all HR related programs - from recruiting, training, rotation, to rewarding, creating a friendly working environment, developing a typical corporate culture for Ecoba.

Based on its solid governance system, Ecoba is confident with its future development plans. According to Ecoba’s leadership, the Company will continue to define construction as its core business. In addition, it will continue to improve its ecosystem in the construction bidding sector. Successful application of international standards in governance, approaching international standards, the story of Ecoba is typical of the Vietnamese private enterprise group in the integration period, ready to commit itself to approaching new affairs, and changing mindsets. It is considered an inevitable direction for the enterprise if it wants to fast and far.

Ecoba’s Milestones

  • 2007 - LIDECO 3 was established in 2007 as a subsidiary of LIDECO. 2010 Inherited history and experience from LIDECO, LIDECO 3 went private with key management personnel.
  • 2012 - Completed construction of the largest sewage treatment plant in Vietnam.
  • 2013 - LIDECO 3 JSC changed its name to ECOBA VIETNAM JOINT STOCK COMPANY.
  • 2015 – ECOBA succeeded in breaking into the fastest-
  • 2018 - growing sector and started its robust expansion phase.