On the morning of April 25, 2025, IDICO Corporation – JSC (HNX: IDC) convened its 2025 Annual General Meeting of Shareholders (AGM) via livestream at the IDICO Head Office.
The proceedings commenced with the opening remarks from Ms. Nguyen Thi Nhu Mai, Chairwoman of the Board of Directors of IDICO. Ms. Mai emphasized the significance of the AGM in reporting the company’s 2024 performance and outlining the strategic direction for 2025. She also expressed sincere gratitude for the continued support and trust of the esteemed shareholders.
Several key resolutions were approved during the AGM, including:
The Audited Consolidated and Separate Financial Statements for the year 2024.
The Profit Distribution Plan for 2024 and the proposed Profit Distribution Plan for 2025.
Other crucial proposals related to the production and business plan, investment strategies, remuneration of the Board of Directors, selection of the auditing firm, the plan for issuing shares to pay dividends, and amendments to the company’s business lines and charter.
Report on Operating Results 2024 and Development Strategy 2025
Mr. Phan Van Chinh, Deputy General Director of IDICO, presented the report on the 2024 business performance and investment activities. The corporation achieved outstanding results in 2024, surpassing its targets with a 21% increase in consolidated revenue and a 46% rise in consolidated pre-tax profit compared to 2023, reaching 107% and 120% of the annual plan, respectively. The synchronized performance across all key business segments drove this robust growth.
The consolidated business results for 2024 recorded a total revenue of VND 9,048 billion. Notably, the industrial park infrastructure and services sector remained the primary driver, achieving VND 3,988 billion and exceeding the set target by 102%. The reports also highlight strong contributions from electricity business revenue, generating VND 3,373 billion, alongside positive outcomes from commercial real estate operations and other business activities.
Ms. Tran Thuy Giang, Member of the Board of Directors of IDICO, presented the Board of Directors’ performance report for 2024 and the anticipated activities for 2025. In 2024, IDICO leased 106 hectares of industrial land and nearly 39,000 square meters of ready-built factories. The Board of Directors outlined three main objectives for 2025: increasing the leasable industrial land area, preparing for the development of ready-built factories and warehouses, exploring new investment opportunities (infrastructure, energy, commercial real estate – commencing the social housing project in Nhon Trach), enhancing customer service quality, and fostering innovation to optimize operational efficiency.
Following this, Mr. Ton That Anh Tuan, representative of IDICO’s Audit Committee, presented the Audit Committee’s report, providing an objective assessment of the corporation’s operations.
Shareholder Discussions and Sustainable Development Strategy
During the interactive discussion session, IDICO’s leadership team addressed shareholders’ inquiries and shared insights into the company’s development strategy.
Mr. Dang Chinh Trung, General Director and Member of the Board of Directors, directly responded to shareholders’ questions, underscoring the company’s transparency and commitment to its investors.
In 2024, IDICO secured investment approvals for four new industrial parks: Tan Phuoc 1 IP (Tien Giang province), My Xuan B1 EXP IP (Ba Ria - Vung Tau province), Vinh Quang Ecological IP (Hai Phong province), and Phu Long IP (Ninh Binh province).
In particular, Vinh Quang Eco-IP, spanning 226 hectares and developed under an ecological model, stands as a key project embodying IDICO's commitment to sustainable development. Through this approach, IDICO is progressively establishing new benchmarks for the development of environmentally friendly and energy-efficient industrial parks that strive towards a circular economy.
With a solid financial foundation, IDICO proactively balances its capital sources and flexibly adjusts its plans in response to market dynamics.
IDICO’s comprehensive & sustainable growth
The 2025 Annual General Meeting of Shareholders concluded successfully, demonstrating the alignment and determination of the leadership and shareholders in achieving the company’s development goals. In 2025, IDICO will concentrate on expanding its land bank and developing environmentally friendly industrial parks based on the circular economy model in promising locations such as Ninh Binh, Can Tho, and other potential provinces, with a target of developing at least an additional 1,000 hectares of industrial land. The 8,000-unit Nhon Trach social housing project, developed by URBIZ, is slated to be groundbreaking in the third quarter of 2025.
The Board of Directors of IDICO will continue to provide strong guidance and oversight for the execution of its mission to create a sustainable and environmentally friendly industrial ecosystem, fostering the development of businesses, society, and the nation, ultimately aiming to become the leading developer of comprehensive and sustainable industrial ecosystems in Vietnam.
IDICO
