To supply water for production and daily life, Bac Lieu Water Supply Joint Stock Company has constantly endeavored, united and innovated to overcome difficulties to enhance effective and sustainable business development and prove its important role in socioeconomic development and improve local business investment environment.
The company has persistently strived to broaden the scope of water supply zones, aiming to enhance water accessibility for 95% of Bac Lieu City’s residents
Bac Lieu Water Supply Joint Stock Company was previously Bac Lieu Water Plant Management Company, established in 1950. Over more than 70 years of operation, the company has transformed its operating models and names several times. In 2014, in response to the decision of the Chairman of the Bac Lieu Provincial People’s Committee on equitization of Bac Lieu Water Supply Company Limited, the shareholders' meeting on formation of Bac Lieu Water Supply Joint Stock Company was held on December 19, 2015.
After going public, the company developed quite comprehensively. Despite rising input costs for water production and supply, the company’s revenue, profitability and dividend and employees’ income all increased.
The company has continuously endeavored to expand water supply areas to lift water access to 95% of residents in Bac Lieu City. Currently, the company has built a complete water supply system with two treatment plants with a daily capacity of 32,000 cubic meters to provide standard water for more than 33,000 households, agencies and companies. Its water supply network satisfies daily water needs for people and companies, thereby effectively supporting the socioeconomic development of Bac Lieu province as well as Bac Lieu City.
Mr. Vo Minh Trang, Chairman of the Board of Directors of Bac Lieu Water Supply Joint Stock Company, said: After going public, the company invested in water supply infrastructure and technology while applying solutions to improve operating and administrative capacity and save costs. To date, as the company's water supply pipeline has been invested in for over 20 years, the water loss rate is kept below 10%.
In addition, the Company has continuously invested in applying information technology to management. Previously, recording monthly water readings was done manually, which was very time-consuming, annoying to customers and cost-consuming but the company has installed electronic meters that measure water and transmit data to clients. This has helped reduce inconvenience for customers as well as costs for businesses.
Currently, in addition to producing and providing water, Bac Lieu Water Supply Joint Stock Company also invests construction projects like water treatment and supply facilities for people and companies; invests and builds civil engineering projects, industrial projects and technical infrastructure; and consults on construction investment of civil, industrial and technical infrastructure projects. Besides, it also supplies pure ice and other products. These have helped the company raise employees’ incomes.
Remarking on future directions, Chairman Vo Minh Trang said the company will continue to improve water quality as well as customer service; strive to meet requirements for local socioeconomic development and investment attraction to meet water demand of consumers and enterprises.
By Quoc Hung, Vietnam Business Forum
Vietnamese
