In attendance were Mr. Nguyen Minh Triet, former President of Vietnam; Mr. Nguyen Hoang Thao, Permanent Deputy Secretary of the Binh Duong Provincial Party Committee; Mr. Nguyen Ngoc Diep, Chairman of the Vietnam Water Supply and Sewerage Association; Mr. Nguyen Van Loc, Member of the Standing Committee of the Provincial Party Committee and Chairman of the Binh Duong Provincial People's Council; Mr. Mai Hung Dung, Member of the Standing Committee of the Provincial Party Committee and Permanent Vice Chairman of the Binh Duong Provincial People's Committee, along with provincial leaders from various periods and leaders of provincial departments, agencies, and localities.

Biwase, formerly known as the Binh Duong Water Supply Center, was established before 1975. However, by the 1990s, Biwase still had an extremely low starting point with outdated technology, relying on groundwater sources, and a capacity of 4,000 to 5,000 m³/day. This was due to the impacts of the centralized and subsidized economy of that period, many barriers, and a lack of mechanisms to encourage business development.

However, later, with the guidance and support of Binh Duong province's political system, which worked in unison to quickly overcome the challenges of the centralized and subsidized economy, Biwase closely followed the directions of Binh Duong’s provincial leadership with the support of relevant agencies, boldly changed technologies, and boldly sought investment capital, particularly from ODA funds provided by multilateral donors such as the World Bank, ADB, JICA, and the governments of countries like the Netherlands, Denmark, Finland, France, Germany, and Norway.

By effectively utilizing all available resources, Biwase has grown continuously, especially since its equitization in 2016 and listing on the Ho Chi Minh City Stock Exchange (HoSE) in 2017. Biwase has consistently expanded, increasing its charter capital to nearly VND 2,200 billion, owner’s equity to VND 5,173 billion, market capitalization to over VND 10,000 billion, and total assets to over VND 12,000 billion. Most recently, BWE shares were included in the MSCI Index (an index published by the U.S.-based financial institution Morgan Stanley Capital International, which serves as a reference for many investment funds to consider when selecting investment portfolios)

Furthermore, after many years of development, Biwase has invested in 27 entities and expanded its business operations to various provinces and cities across the country, such as Can Tho, Dong Nai, Long An, and Quang Binh. Biwase now has 7 subsidiaries (3 of which are outside Binh Duong province), 8 associates, and 12 branches, with a total water supply capacity of up to 822,000 m³/day and a workforce of 2,000 employees

Biwase introduces 05 subsidiaries with a vision towards Group development.

From a small-scale production and business operation, the branches have now grown significantly and steadily. With the approval of Becamex Corporation—the State capital managing unit at Biwase—Biwase has completed the necessary documentation to establish four one-member limited liability companies and acquire one joint-stock company. These include Biwase Environment – Technology – Science Complex One-member LLC (formerly Biwase Waste Treatment Branch); Biwase Binh Phuoc Water One-member LLC (formerly Chon Thanh Water Supply Branch) with a capacity of 60,000 m³/day; Biwase Production – Trading – Service One-member LLC (formerly Biwase Urban Services Branch); Biwase Consulting One-member LLC (formerly Biwase Water Supply and Sewerage Consulting Branch); and Biwase Long An Water Joint Stock Company (formerly DNP-Long An Water Infrastructure Investment Joint Stock Company), which Biwase acquired for VND 608.8 billion,’ Chairman Nguyen Van Thien emphasized.

Chairman Nguyen Van Thien receives congratulatory flowers from the leaders of Binh Duong province (second person from the left).

It is known that upgrading branches into subsidiaries within a group can bring many synergistic values, such as enhancing autonomy, allowing leadership to manage independently and make quicker decisions, thereby improving operational efficiency; facilitating market expansion as the new companies can more easily expand their operations and reach new markets; having multiple subsidiaries under one group can elevate the group's reputation and brand; the subsidiaries can share resources and expertise, optimizing costs and improving operational efficiency; and most notably, a group with multiple subsidiaries is more likely to attract investors due to the diversity and growth potential of its subsidiaries

Source: https://baodautu.vn/biwase-ra-mat-5-cong-ty-con-de-huong-toi-phat-trien-tap-doan-d224269.html