Enterprise

VSC Leadership: Nam Đồ Sơn (Vingroup) Marks a Major Leap for Northern Vietnam’s Port Infrastructure

On October 9th, Vietnam Container Corporation (Viconship, HOSE: VSC) held an extraordinary shareholders' meeting for 2025, finalizing a pre-tax profit plan three times higher than previously projected. VSC's leadership also shared insightful observations regarding the impact of newly operational deep-water ports in Hai Phong, as well as the competitive landscape with Vingroup's Nam Do Son project coming online.

Administrator

14 October, 2025

Tripling the Profit Target

An extraordinary general meeting approved the revision of the 2025 pre-tax profit plan from VND 400 billion to VND 1,250 billion, representing a more than threefold increase.

Source: VietstockFinance

Explaining the profit plan adjustment, a representative from VSC stated that the company had already exceeded the VND 400 billion pre-tax profit target in the first eight months of 2025. Additionally, the seaport market is forecasted to experience robust growth in the fourth quarter and early next year.

The company has partnered with Hai An Transport and Loading JSC to redirect some vessels to operate at Nam Hai Dinh Vu Port, which is expected to boost the port’s profitability. VSC’s leadership also mentioned that the company continuously seeks new customers, enhances production and business activities, and benefits from market improvements and state-adjusted fee increases since the beginning of 2025.

“The company recognizes the necessity of adjusting the business plan, which serves as a driving force for the entire leadership team and employees to strive for its realization,” emphasized the VSC representative.

Regarding the progress of dredging the shipping channel to a depth of 8.5 meters, the VSC representative reported that after completing all necessary legal procedures with the management agency, the company swiftly coordinated with the contractor to move into the construction phase. They have finalized the deployment of specialized dredging equipment and are currently in the active dredging stage.

However, heavy rainfall and storms in September and October, along with sedimentation from upstream floods, have continuously affected the channel. This, coupled with vessels needing to take shelter from storms, has slowed the construction progress. The dredging work is expected to be completed by the end of November. Immediately afterward, the company will collaborate with the Port Authority to conduct measurements and officially announce the maritime changes.

Increasing Competition in Hai Phong

In response to shareholder concerns about the impact of large deep-water ports in Hai Phong attracting manpower and customers from smaller ports on VSC’s operations, the company’s leadership stated that this scenario had been anticipated and planned for.

The company has proactively adapted to ensure the achievement of its business goals, including managing high-quality human resources, maintaining and developing customer relationships, and enhancing service capabilities and quality.

During the meeting, shareholders also questioned the upcoming competition in the port operation sector with the launch of the Nam Do Son Hai Phong port and logistics center project (developed by Vingroup with a scale of 4,300 hectares and a total investment of over USD 14 billion).

According to the VSC representative, the Nam Do Son Hai Phong project is a significant development in the northern region’s seaport infrastructure and logistics. However, it presents both challenges and opportunities.

Hai Phong boasts a diverse seaport system, including river ports and deep-water ports, providing favorable geographical conditions for the development of logistics and maritime transport. Additionally, the shift of cargo transportation to the north is driving the establishment of new ports and substantial investments in industrial clusters, increasing the demand for cargo transportation and circulation.

Major global shipping lines continue to operate at both river and deep-water ports, with river ports remaining suitable for customers in the intra-Asia region. These factors represent long-term advantages for the company’s operations and offer opportunities to expand its competitive capacity and achieve robust growth in the future.

Project location in Hai Phong City’s master plan

Real Estate Investment as a Long-Term Strategy

Regarding the company’s entry into the real estate sector, the VSC representative stated that this is a long-term strategic decision.

Currently, port operations are running efficiently, meeting revenue and profit expectations. However, to increase profitability and meet shareholder expectations, the company plans to expand into potential sectors such as maritime transport, real estate, and industrial zones.

This strategy has been carefully planned and selectively implemented, aligning with the company’s long-term development goals. Real estate, in particular, is seen as a supplementary sector, providing a stable profit source for reinvestment in port infrastructure and logistics services.

The VSC representative emphasized that this investment will enhance the company’s financial capacity, enabling deeper investments in port infrastructure, service quality improvements, and operational expansion. This will strengthen its competitive position in the seaport service industry.

Huy Khải

– 11:13 13/10/2025