VIMC celebrates three-decade proud journey of development

The event was attended by leaders of the Party and government, the Ministry of Finance, relevant ministries, strategic partners at home and abroad, and VIMC employees.

VIMC celebrated its 30th anniversary in Hanoi on May 10. Photo: VIMC

Speaking at the ceremony, Le Anh Son, chairman of VIMC, emphasised, "The Second Class Labour Medal awarded by the president is a great encouragement and motivation for all staff and employees of VIMC. The 30-year journey is not only a journey of development, but also a process of challenges and innovation. VIMC is committed to continuing to expand its operations, improve its competitiveness, and make more contributions to the Vietnamese economy."

VIMC, known as Vinalines in the past, was established in 1995 after restructuring shipping, port, and maritime service enterprises. It started with a modest charter capital of less than VND1.5 trillion ($60 million) and a fleet of 49 ships with an average age of 21.5 years, a total tonnage of 400,000 DWT. At that time, Vinalines did not even have a dedicated port, but only 6,900m of berths.

VIMC has gone through many stages of development, from its peak when the fleet reached 159 ships, with a total tonnage of nearly 3.5 million DWT and accounting for 45 per cent of the country’s total tonnage. Then the global financial crisis in 2008 put the group on the brink of bankruptcy.

During that difficult period, thanks to the direction and guidance of the government and the support from ministries and agencies, VIMC has gradually overcome those obstacles. Especially, its people carrying the spirit of a seafarer have strived to find breakthrough solutions and implemented them.

VIMC received the second-class Labour Medal at the 30th anniversary. Photo: VIMC

VIMC has done comprehensive restructuring, continuing to focus on three core areas: seaports, shipping and maritime services, with a more streamlined and effective approach. It bravely cut out unnecessary things, loss-making businesses, and drastically innovated management and business methods. New management tools and new working mindsets were applied and thoroughly implemented from top to bottom, closely following the customer-centric strategy.

From negative equity of VND4.6 trillion ($184 million), it has increased to VND17 trillion ($680 million). VIMC has transformed into a public enterprise with a capitalisation value of over VND100 trillion ($4 billion), managing more than 16 key seaports, accounting for nearly 30 per cent of the market share of goods through the Vietnamese seaport system, and operating a fleet of vessels with increasingly improved transport capacity.

VIMC is currently focusing on investing in key deepwater ports, such as Cai Mep - Thi Vai, Lach Huyen and the upcoming Can Gio international transhipment port, a strategic project that will help raise Vietnam's position on the international maritime map. Reform efforts over the past three decades have not only helped VIMC overcome difficulties but also opened up opportunities for sustainable development.

VIMC leaders received the Certificate of Merit. Photo: VIMC

VIMC is aiming to improve port operation efficiency, expand logistics services, and invest in a modern, environmentally friendly fleet. The company has been cooperating with the world's leading shipping groups to enhance international maritime connectivity.

In addition, VIMC is looking at digital solutions and applying AI and big data to port operations and supply chain management. The application of digital technology will help optimise costs, improve operational efficiency, and minimise environmental impacts.

The corporation is planning to develop modern logistics centres in Haiphong, Danang and Ho Chi Minh City, contributing to optimising the maritime supply chain. These facilities will play an important role in connecting international shipping routes, helping to increase the competitiveness of Vietnam's maritime industry.

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