According to the minutes and resolutions of the 2026 Annual General Meeting of Shareholders (AGM) held on January 11, Vinh Phuc Infrastructure Development JSC (HNX: IDV) has approved its 2026 fiscal year business plan. The plan targets total revenue ranging from VND 258 billion to VND 276 billion, marking a 2-9% increase compared to the previous year. Post-tax profit is projected at VND 132 billion to VND 141 billion, reflecting a 1-8% growth. Additionally, the company will maintain a dividend payout ratio of 25%.
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IDV’s 2026 Fiscal Year Business Plan (October 1, 2025 – September 30, 2026)
Source: IDV
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A notable decision made during the AGM was the adjustment of the total investment for the Song Lo II Industrial Zone (IZ) project from VND 1,520 billion to VND 2,180 billion.
IDV’s leadership explained that the additional VND 660 billion primarily stems from fluctuations in construction material prices and significantly higher land leveling costs compared to the initial project planning phase. Initially, the land lease rate for the IZ was estimated at USD 55–60/m².
However, based on current market rates in Phu Tho Province, the land lease rate for Song Lo II IZ has been revised to approximately USD 115–120/m², aligning with market trends. Despite the increased investment, the project remains financially viable and ensures capital recovery.
The Song Lo II IZ project, approved by the Prime Minister on February 23, 2021, spans 165.65 hectares in Song Lo Commune. With an initial investment of over VND 1,500 billion, IDV serves as the primary investor. In 2024, the Vinh Phuc Provincial People’s Committee allocated the first phase of land, covering 152.76 hectares, to the company. By June 2026, IDV plans to complete the integrated infrastructure, enabling secondary investors to lease land in the first phase, covering approximately 55 hectares.
Among existing IZs, Chau Son IZ has achieved 100% occupancy of its industrial land after leasing nearly 6.5 hectares. The company completed warehouse construction by the end of 2025 and expects to sign lease agreements with investors in January 2026.
At Khai Quang IZ, construction is underway on the CN17 lot, covering 5.76 hectares. IDV anticipates completing and handing over the land by March 2026, facilitating investor leasing and project implementation.
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IDV-Led Industrial Zones as of September 30, 2025
Source: IDV
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Moving forward, IDV will enhance updates on its website, providing shareholders with the latest information, images, and project progress for convenient tracking and monitoring.
The AGM also approved the resignation of two Board of Directors (BOD) members, Mr. Phung Van Quy and Mr. Ton Tich Quang Nam. Mr. Nguyen Manh Ha and Ms. Phung Thi Lan Phuong were elected as new BOD members for the 2024–2028 term.
Mr. Ha currently serves as Chairman of VPID Vinh Phuc JSC, while Ms. Phuong (daughter of Mr. Phung Van Quy) holds the position of Deputy General Director at VietGlobal Consulting Group JSC.
Additionally, the AGM appointed Mr. Trinh Viet Dung as Chairman of the BOD, succeeding Mr. Hoang Dinh Thang. The two Vice Chairmen, Mr. Hoang Dinh Thang and Mr. Nguyen Manh Ha, will assume their roles effective January 12, 2026.
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IDV’s 2025 Board of Directors
Source: IDV
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– 12:05 PM, January 15, 2026
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