VINACONEX Corporation

What VINACONEX Corporation does

VINACONEX Corporation (Vietnam Construction and Import-Export Joint Stock Corporation) is a publicly listed Vietnamese construction and real estate development company founded in 1985 and headquartered at VINACONEX Tower, 34 Lang Ha, Hanoi. Listed on the Ho Chi Minh Stock Exchange under ticker VCG with 646,468,336 outstanding shares and authorized capital of approximately 6.46 trillion VND, the company operates across three principal business segments: (1) construction services covering civil, industrial, transportation infrastructure, and irrigation/hydropower/port construction; (2) real estate investment spanning residential, resort, and industrial real estate developments including the 277-hectare Hoa Lac Hi-Tech Industrial Park 2; and (3) financial investments in clean water, energy, building materials, education, labor export, and trading services.

The company generates revenue primarily as a general contractor for government infrastructure projects awarded through competitive bidding, with project-based milestone billing. Its go-to-market is enterprise field sales into state-owned and government customers, supported by a small set of recognized sub-brands and a primarily domestic (Vietnam) operating footprint spanning Northern, Central, and Southern regions. Notable landmark projects include the Long Thanh International Airport passenger terminal, the North-South Expressway, Hanoi Ring Roads 3 and 4, the Mong Cai urban residential development, and the Tuy Hoa beachfront resort. In December 2025, VINACONEX acquired a 98.16% controlling stake in Vietnam Water and Environment Investment Corporation (VIWASEEN), adding water and environmental infrastructure to its portfolio.

VINACONEX has been consistently recognized as a Top 10 most reputable construction contractor in Vietnam from 2019 through 2025, and has received Vietnam National Brand Cup recognition, Labor Medals from the Vietnamese Government, and the JICA International Cooperation Award. Its customer base is concentrated in Vietnamese government and quasi-government entities, and it operates without any disclosed proprietary technology platform or AI/ML capability - the business is fundamentally execution-driven on physical infrastructure and real estate assets.

Name

VINACONEX Corporation

Legal name

Tổng công ty Cổ phần Xuất nhập khẩu và Xây dựng Việt Nam - VINACONEX

Website

https://vinaconex.com.vn

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

1–10 employees

Short description

VINACONEX is a Hanoi-headquartered, HOSE-listed (VCG) Vietnamese construction and real estate developer founded in 1985, serving government and state-owned enterprise clients with civil, industrial, and transportation infrastructure construction, plus residential, resort, and industrial real estate investment across Vietnam.

Ownership category

akta.pro rank

Product category

Construction and Infrastructure Services

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

Keywords

• Construction services
• Infrastructure development
• Real estate development
• Civil engineering
• Industrial construction

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Others

Revenue model

1. Construction Services: VINACONEX generates revenue primarily through construction contracts as a general contractor, undertaking infrastructure projects such as roads, bridges, airports, and buildings. Revenue is project-based and earned upon completion of construction milestones.

Go-to-market motion1 record

Distribution channels1 record

Core offering

VINACONEX Corporation is a Vietnamese general contractor and real estate developer operating three business segments: (1) Construction Services covering civil, industrial, transportation/technical infrastructure, and irrigation/hydropower/port construction; (2) Real Estate Investment spanning residential, resort, industrial parks, and social infrastructure; and (3) Financial Investments in clean water, energy, building materials, education, labor export, and trading services. The company delivers landmark national projects including Long Thanh International Airport, North-South Expressway segments, and Hanoi Ring Roads.

Product overview

VINACONEX Corporation is a diversified construction and real estate development company operating as a joint-stock corporation in Vietnam. The company operates through three main business segments: (1) Construction Services covering civil, industrial, transportation infrastructure, and irrigation/hydropower/port construction; (2) Real Estate Investment spanning residential (social housing, urban areas), resort/tourism properties, industrial real estate (including the 277-hectare Hoa Lac Hi-Tech Industrial Park 2), and social infrastructure; and (3) Financial Investment in clean water production, energy, building materials, education, labor export, and trading services. Notable projects include VINACONEX TOWER headquarters in Hanoi, Long Thanh International Airport, North-South Expressway segments, Hanoi Ring Road projects, and urban developments in Mong Cai and Tuy Hoa. The company has been recognized as a TOP 10 Most Reputable Construction Contractors in Vietnam for multiple consecutive years.

Differentiator

Problem solved

Functional benefit

Products and services

• Civil Construction Services

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• VIWASEEN (Vietnam Water and Environment Investment Corporation)coreStrategic or Co-development Partner · 5 December 2025VINACONEX acquired 98.16% of the charter capital of Vietnam Water and Environment Investment Corporation (VIWASEEN) through a Board of Directors resolution dated December 5, 2025. VIWASEEN officially became a subsidiary of VINACONEX as of December 30, 2025. This acquisition significantly expands VINACONEX's portfolio into water and environmental infrastructure.
• Pacific Holdings Investment Joint Stock CompanyminorOthersPacific Holdings Investment JSC has nominated candidates for VINACONEX's Board of Directors for the 2022-2027 term, indicating a significant shareholder relationship with board representation.
• Vinaconex Construction Consulting (Vinaconsult)coreImplementation/ SI/ Consulting PartnerVinaconex Construction Consulting Joint Stock Company (Vinaconsult) serves as the project developer for major VINACONEX projects including the Hoa Lac Hi-Tech Industrial Park infrastructure development.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Becamex IDC Corp: Vietnamese industrial real estate developer (HOSE: BCM) operating industrial parks and urban infrastructure. Comparable to VINACONEX's Hoa Lac Hi-Tech Industrial Park 2 segment — both develop and operate industrial zones for manufacturing tenants in Vietnam, though Becamex focuses more on southern Vietnam.
• Phu Long Real Estate JSC: Vietnamese real estate developer focused on residential and resort/tourism properties. Comparable to VINACONEX's residential and resort real estate segments (e.g., Tuy Hoa resort project) in the Vietnamese market.

Broad incumbents

• Shimizu Corporation: Major Japanese general contractor with global infrastructure and building capabilities. Comparable to VINACONEX in execution of large-scale civil, transportation and building projects for government and institutional clients.
• Hyundai Engineering & Construction Co Ltd: Korean general contractor active in highways, airports, ports and high-rise buildings internationally. Comparable to VINACONEX in core civil and infrastructure construction scope, including bidding on large publicly-tendered infrastructure projects in Asia and emerging markets.
• China State Construction Engineering Corporation: Global mega-scale construction contractor active in airports, expressways and high-rise civil works across emerging markets. Comparable to VINACONEX in core general contracting capabilities and pursuit of large national infrastructure programs, operating at much broader scale.

Direct peers

• Hoa Binh Construction Group JSC: Vietnamese general contractor (HOSE: HBC) specializing in civil, industrial and commercial construction plus real estate development. Directly competes with VINACONEX on Vietnamese commercial/industrial building tenders and shares the same government and private developer customer base.
• Coteccons Construction JSC: One of Vietnam's largest private general construction contractors (HOSE: CTD), active in civil, industrial and high-rise building construction. Directly comparable to VINACONEX as a top-tier Vietnamese general contractor competing for the same institutional and commercial project bids.
• Licogi 16 JSC: Vietnamese infrastructure contractor (HOSE: LCG) focused on civil, industrial and transportation infrastructure. Comparable to VINACONEX through overlapping infrastructure construction capabilities in the same Vietnamese bid market.
• Fecon Corporation JSC: Vietnamese infrastructure and foundation specialist (HOSE: FCN) active in transport, energy and industrial infrastructure construction. Comparable to VINACONEX as a domestic infrastructure contractor pursuing transport and energy-related mega-projects in Vietnam.
• Deoca Group JSC: Vietnamese transportation infrastructure constructor (HOSE: DWG) known for expressway and BOT highway projects. Highly comparable to VINACONEX as a domestic peer participating in the same national expressway and ring-road infrastructure pipeline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vietnam-construction-and-import-export-corporation-vinaconex-

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VINACONEX Corporation