Conglomerate helps in nation-building

From its establishment in 1996 until 2006, the Tan Tao Investment & Industry Corp. (ITACO) had just four projects in its portfolio.

As the first land development firm to be awarded land by the government, the company has enjoyed an edge over its competitors as the leading property and infrastructure developer.

Each year, ITACO has reported growth of over 400 percent and boasts 42 projects as of 2008. Having sold out most of its industrial park projects, it forecasts further growth in the industry.

The group recently signed contracts with U.S.-based Black & Veatch, China’s FHDI Engineering Co., Ltd. and Vietnam’s Power Engineering Consulting Co. No. 2 to build the Kien Luong Thermal Power Center, which will be the largest such project awarded by the prime minister to a privately-owned company.

Today, the firm not only develops land into industrial zones, office buildings, warehouses, and factories with full infrastructure and utilities (i.e., water treatment, sewage treatment plants, water supply pipelines) but it also builds power plants, condominiums, e-cities, ports, university campuses, highways, and Internet and telecommunications infrastructure, among others.

ITACO believes that now is the time to be aggressive and take advantage of the country’s rapid growth.

“As the country grows, so will its local industries. With overseas investment pouring into Vietnam, this would be the perfect time to create opportunities for ITACO and foreign corporations,” explains President and CEO Thai Van Men.

ITACO President and CEO Thai Van Men

Following reorganization, the company operates nine key departments (Industrial Parks, ITA-E-Cities, ITA-Ways, ITAWaters, ITA-Power, ITA-Port, ITA-Sky, ITA-Tel and ITA-Rice), all of which have huge potential for partnerships in their respective areas.

With the increase of Japanese investment in the country, many well-known Japanese companies have expressed interest in partnering with ITACO to develop infrastructure in Vietnam. ITACO has seen much potential in joint ventures with Japanese companies as official development assistance also benefits the economy.

“It has become the partnering initiative between domestic and multinational companies that creates what Vietnam is today. But our initiatives don’t end there. The rural and urban communities that reside within and around our projects have also been a top priority of the company,” he says.

ITACO has also made an invaluable contribution to the communities surrounding its projects. The firm donated many elementary and secondary schools, medical centers and houses to help not only the national economy but ordinary citizens as well.

“We have gone above and beyond the responsibility of a public company. We have to continue growing every single day to enrich the investments of our shareholders. But we also believe in contributing to the community and have committed ourselves to Vietnam. Our mission in Vietnam is to build a foundation for a better future,” says Madam Yen Dang, founder and chairperson of the ITA Group.

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Source: worldeyereports.com