SONADEZI: Leading Enterprise in Industrial Zone Development Investment

The Corporation for the Development of Bien Hoa Industrial Zone (Sonadezi) was established in 1990 for the purpose of developing infrastructure for industrial zones in Dong Nai. At that time, there were only three enterprises engaging in the development of industrial zones: Sonadezi and two foreign invested ones, Tan Thuan and Linh Trung Industrial Zones, so the competition was not considerable. Experience was the biggest difficulty for Sonadezi at that time.

 

Ms Chu Thi Thu – Former Chairwoman of Sonadezi’s Management Board, who was strongly attached with Sonadezi from the beginning shared: “We found it so strange at the beginning, everything was too new. Nevertheless, thanks to a common aim and determination, Sonadezi quickly overcome this difficulty. Sonadezi has also received the direction from Dong Nai People’s Committee as well as the concern and support from many ministries and sectors. However, the biggest motive for Sonadezi at that time was our clients. Due to our lack of experience, Sonadezi put forth the target of satisfying clients from the completion of infrastructure to the supply of services such as accommodation and baby sitter service for foreign experts and businessmen working in Vietnam.

 

The Law on Foreign Investment took effect in 1990, which reassured the sound direction of Sonadezi in each of its steps. This was a wonderful opportunity for Sonadezi because the number of foreign enterprises coming to invest in Vietnam was bigger once Vietnam created a complete legal basis and investment environment. However, this was also a challenge to Sonadezi as more enterprises started to do business in developing infrastructure for industrial zones, resulting in stronger competition, thus Sonadezi had to try its best to protect its leading position.

 

Ms Thu said that Sonadezi’s success is the result of many factors which are so called “Clement weather - favorable terrain - universal concord”. When established in 1990, Sonadezi’s staff were mostly young, ranging from age 20 to 30, having advantages in knowledge and awareness in combination with energy and enthusiasm at work. However, what can be taken into account was that they all kept their mind on their work as each of them was usefully exploited in their position. During the last 18 years, Sonadezi has been striving to hold position through well-known works specialised by features of modern industry such as Bien Hoa 2, Go Dau, Amata, Long Thanh, Bien Hoa 1, Xuan Loc, and Giang Dien industrial zones. Such works have created absolute confidence among both local and foreign investors as well as a lever to attract investment capital and work force for industrial zones in Dong Nai.

From a company engaging in developing infrastructure for industrial zones, Sonadezi Corporation has developed with more than ten member units doing business in multiple lines such as: real estate, civil and industrial engineering; construction material production; port, storage and transport trading; water and water equipments; and service. Explaining this trend, especially in the field of real estate, Mr Vu Ngoc Tuy, General Director of Sonadezi said: “The growing demand for development has become dynamic in the Southern focal economic region including Dong Nai. Especially since its adherence into the WTO, Vietnam has attracted many big groups from many countries in the world coming to study the investment environment in Vietnam. Sonadezi has realised that the demand for industrial zone expansion as well as the big demand for residential and commercial or service areas or in other words the construction of industrial - urban and service complexes near industrial zones will create the best conditions for employees surrounding the zones.