C47 continues 16-Year streak in the Top 500 Largest Private Enterprises in Vietnam

Construction Joint Stock Company 47 (HOSE: C47) has been honored again in the Top 500 Largest Private Enterprises in Vietnam in 2023 – part of the VNR500 rankings, marking the 16th consecutive year of achieving this recognition.

• C47 prioritizes hydroelectric and irrigation projects in Vietnam and Laos
• Global collaboration in wind project development and implementation in Vietnam

C47 Celebrated 16 Years of Recognition in the VNR500 Rankings

The announcement ceremony of the VNR500 rankings (including the Top 500 Largest Enterprises in Vietnam and the Top 500 Largest Private Enterprises in Vietnam) and the Top 10 prestigious companies in various industries for the year 2023, took place on the afternoon of January 18, 2024. The Vietnam Report JSC organized the event in collaboration with VietNamNet under the Ministry of Information and Communications.

The VNR500 rankings celebrate enterprises that significantly contribute to the development of Vietnam’s economy, following the Fortune500 model. These rankings are based on independent research and evaluation according to international standards by Vietnam Report, which has been regularly published annually since 2007, with the advice of experts from both inside and outside the country.

As a pioneering enterprise in the construction sector, recognized for its scale, reputation, and substantial capabilities, C47 received recognition in the Top 500 Largest Private Enterprises in Vietnam in the second year of the VNR500 rankings 2008. Since then, for 16 consecutive years, C47 has maintained this outstanding achievement and is currently one of the 42 construction enterprises in the Top 500 Largest Private Enterprises in Vietnam for 2023.

Mr. Phong, Pham Nam (wearing a green suit) – Chairman of the Board of Directors of Construction 47 – received the certification “Top 500 Largest Private Enterprises in Vietnam 2023” at the Announcement Ceremony

C47 is known as a company with almost half a century of tradition in the construction industry, especially excelling in executing hydroelectric projects. Beyond executing a series of major projects worth billions of Vietnamese dongs in Vietnam, C47 is also making its mark in regional markets. In the Lao People’s Democratic Republic (Lao PDR), C47 is participating in the Nam Phak hydroelectric project, constructing the Nam Pha, Nam Phak, and Phouphong dams – with a total value of nearly VND 800 billion. C47 is also collaborating with Power Engineering Consulting Joint Stock Company 3 (EVNPECC3) on the Nam Neun 1 hydropower project with an EPC contract for “Design, supply, installation of hydraulic machinery and construction of the project,” with a total value of USD 184,999,999.

Signing ceremony of Nam Neun 1 Hydropower Project, Lao PDR with the participation of C47 in the joint venture general contractor

In parallel with expanding its influence in the international market, within the green transition trend, and towards sustainable development, C47 is actively participating in new business areas related to renewable energy, projects to reduce greenhouse gas emissions, especially with the support of Vu Phong Energy Group – a major shareholder of C47 (through our member – VP Invest).

Currently, Vu Phong Energy Group is actively accompanying businesses on the green transition journey with diverse solutions, notably rooftop solar power – as an investor, developer, EPC service provider, and operation and maintenance (O&M) service provider; registering the issuance and trading of renewable energy certificates (RECs); consulting ESG practices… With the solar power solution, Vu Phong Energy Group is partnering with various major businesses in Vietnam to use clean energy for production activities. Some of these businesses, recently honored in the VNR500 rankings for 2023, include Vietnam Dairy Products Joint Stock Company (Vinamilk), Duy Tan Plastics Corporation, Phong Phu Corporation, Kim Duc Group Joint Stock Company, Tetra Pak Vietnam Joint Stock Company…

Rooftop solar power system at Vietnam Dairy Products Factory – a unit in the VNR500 Ranking for many consecutive years

Sharing to Mr. Phong, Pham Nam – Chairman of the Board of Directors of Construction 47 and Chairman of the Board of Directors of Vu Phong Energy Group, in the upcoming time, C47 will continue to leverage its core capabilities in the construction of hydroelectric projects. This is to affirm its reputation in both the domestic and regional markets. C47 will also intensify the implementation of activities and business areas closely related to the green transition and sustainable development. Leveraging strengths and extensive experience of Vu Phong Energy Group in clean energy, we will collaborate with C47 and other businesses in Vietnam, especially those in the VNR500, in this journey. Together, they aim to develop sustainably and reach further, asserting the capabilities and position of Vietnamese businesses in both regional and international markets.

Mr. Phong, Pham Nam – Chairman of the Board of Directors of Construction 47, Chairman of the Board of Directors of Vu Phong Energy Group and Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group at the Announcement Ceremony

In addition to the efforts to collaborate with the business community in the VNR500 Program, Vu Phong Energy Group is also aiming to join the program to be in the VNR500 rankings by 2028 – a milestone achievement celebrating the company’s 20th anniversary. Coming up soon, Vu Phong Energy Group will officially commemorate its 15th anniversary with a mission to “Develop clean energy for the green environment and sustainable development.” (27/02/2019 – 27/02/2024) – Mr. Phong said.

Vu Phong Energy Group

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