After nearly 10 years of construction and development, the Import Export International Cooperation and General Investment Corporation (Gelexim) has gradually affirmed its foothold in the market in all of its operating spheres like energy and mining investment projects. A reporter of the Vietnam Business Forum had a talk with Ms Phung Phuong Anh, Vice President cum Vice General Director of Gelexim, on the strengths and potential of investment projects of the corporation.
Could you talk about the investment orientations as well as potential investment projects of Gelexim?
In spite of being a general company, Gelexim always considers its internal strengths to decide investment projects. The society is in need of more energy and minerals for development. Thus, Gelexim will focus on such kinds of projects in its long-term development strategy. With its business principle of “business is to serve society,” Gelexim not only creates jobs but also wants to make an effort to solve urgent social demands at present and in the future.
Currently, Gelexim has carried out two clean water supplying projects in Lam Dong province. The first one is the Dankia2 water supply plant, which requires the first phase investment capital of VND160 billion (US$10 million) to supply 30,000 cubic metres of sanitary water a day in 2015. The facility, which will be doubled its capacity after 2015, is expected to start operations in early 2010 to supply clean water for residents in Lam Dong province. Initially, the plant will bring in estimated annual revenues of VND54 billion. The second project is Nam Phuong water supply plant with a daily output of 9,600 cubic metres and annual revenues of over VND17 billion.
After a long time of surveying and researching the hydropower potentiality in Lam Dong province, the company decided to invest in Dai Nga hydropower plant project with a total estimated investment capital of VND230.18 billion. The facility will generate 44.25 million KWh of electricity for the national electric system each year and bring in VND411 billion in revenues annually. The 7.3 MW EaPuich 1 hydroelectric plant is designed to produce 32.302 million KWh of electricity a year and is expected to make VND300 billion in annual revenues.
Besides, Gelexim is carrying out a pozzolan mine in Ba Ria - Vung Tau province with an annual production of 1.5 million tonnes. The ore is expected to start production in the fourth quarter of 2009 and to generate VND105 billion a year for the company.
Gelexim has a good reputation as a real estate investor. Would you mind telling more about this strength of Gelexim?
In the field of real estate, Gelexim does not invest in high-grade housing projects but looks at the popular demand of the people. Thus, the strength of Gelexim is the investment in reasonable houses.
Typical projects include the Anh Dung 5 apartment complex in Hai Phong City, which covers 22.282 hectares. This complex consists of detached villas, semidetached houses, high-grade apartments, green areas and public utilities. The project has basically completed infrastructural items like electricity, water and villas. The Dai An housing complex in Vung Tau City, which covers a total area of 10.433 hectares, consists of semidetached villas, schools, kindergartens, green parks and wastewater treatment facilities. At present, the complex is in the final stage before being open to customers. Following the success of the Dai An housing project, the company is seeking an investment licence for the Dai An 2 residential project with an area of 50 hectares.
The US is a potential market for Vietnamese exporters. Does your company have any plan for this market in the coming time?
The main business activities of the company are to export handicrafts and agricultural products and import machinery and equipment from the UK, France, the US and Japan. Gelexim set up factories to export Vietnamese wooden products and handicrafts to international markets. In addition to supplying domestic supermarkets and distributors, the company makes annual import-export revenues of US$5 million.
Hopefully, with new progress in Vietnam - US relations and visits of leaders of the two countries, the company will have more opportunities to penetrate this market and cooperate with US companies for mutual benefits.
Reported by Khoi Nguyen