Yen Bai Water Supply and Construction JSC Ensures Water Supply for People

11:30:23 AM | 16/8/2019

Yen Bai Water Supply and Construction Joint Stock Company is a water producer and supplier in Yen Bai City, the capital of Yen Bai province. After going public in 2016, by actively adopting effective business investment solutions, the company has achieved good business results and ensured stable life for its employees.

Yen Bai Water Supply and Construction Joint Stock Company, formerly the Yen Bai Water Supply Company set up 25 years ago, has a broad system of water plants, water stations and pipelines extended to most residential areas in Yen Bai City and its surrounding areas, and Yen Binh Town.

After its equitization, the company has so far adopted various business solutions to push growth, create jobs and ensure stable income for employees. Specialized in producing and trading tap water, consulting water supply project designs and technical infrastructure designs, building industrial and civil water supply and drainage facilities, trading water equipment and construction materials, Yen Bai Water Supply and Construction Joint Stock Company has sought out effective directions to effective production and business by using employees' benefits as a measure of growth. Thus, after more than two years of equitization, water consumption has increased by 10%. In 2017, the company's total revenue reached more than VND28 billion, 5% higher than its full-year plan, and it paid over VND1 billion to the State budget. Employee pay averages over VND6 million per month.

The company’s water plants are capable of supplying a total of over 16,500 cubic meters a day and serving more than 19,000 customers.

According to a decision by the Prime Minister in 2018, Yen Bai Water Supply and Construction Joint Stock Company was one of three enterprises in Yen Bai province to be divested. At present, the company still maintains stable production and business and effectively advocates its employees make long-term working commitments. Divestment strictly follows the principle of public transparency to market rules and company laws. The company’s management has actively coordinated with the Department of Planning and Investment to advise the provincial government to consider registering strategic investors for the company. Its business operations remained normal and water is sufficiently supplied to people. Currently, the company has made meticulous preparations for full divestment as per the Prime Minister’s decision in 2018 and picked the best strategic investors for the company as expected by all employees.

In 2019, power price hikes resulted in price increases of many essential goods, forcing consumers to spend more. However, the company still managed to stabilize water prices for people by applying solutions to enhance productivity and efficiency, reduce costs and increase the effect of water recovery to ensure profitability, even without water price hikes. To do so, the company reduces power consumption and costs at all business stages.  As a result, in the first five months of 2019, the company produced over 1.2 million cubic meters of water, and consumed 400,000 KW of electricity. Its revenue kept growing, thus ensuring incomes and livelihoods for its employees. Currently, the company is selling water for nearly VND7,000 per cubic meter, much lower than producers in other provinces. This is also a political task that the company ensures local social security.
Hoai Nam