CIMAS’s Challenges & OpportunitiesSUPPORT - CÔNG NGHỆ VIỆT .,JSC
By Lee Ming Shyan – CIMAS General Director
Tracing back achievements since the establishment date in 2001, CIMAS has made many successful completions for EPC projects. Phu My 3 Power Plant (EPC Piping) and Condensate Processing Plant (EPC) in 2004; Ca Mau 1&2 Power Plant (EPC Piping) and PHI Garment Factory Phase 1&2 (EPC Civil) in 2008; CSVC Jobsite Office (EPC) and Oriental Sport Industrial Vietnam (EPsCm) in 2011 are cited projects. Thanks to these projects, not only did CIMAS broaden a wealth of valuable experience of engineering design, project management and execution but also acquire nationwide prestige. More and more clients come to seek CIMAS as their strategical partners for business co-operation.
In very recent years, the economy of Vietnam has experienced a historical period of fluctuation. Compared to the macro economy overview in 2011, the picture of 2012 is not less gloomy with low growth rate, unstable domestic currency, frozen real estate and stock market; thousands of bankrupt enterprises … Many companies are facing with severe challenges while operating in this uncertain economy. Nowadays, in Vietnam, it is very easy to see that the winners are distinguished from the losers in the trend of ownership transfer. Which position shall CIMAS put itself in this stormy situation?
2013 is a remarkable year of great efforts by the Government to raise up the economy including dropping bank interest rate and decreasing corporate income tax to 23%, raising taxable personal income to 9 million VND per month … These are good signals for a small company chasing ambitiously the vision “To become a leading internationalized provider of engineering services in Vietnam” like CIMAS.
|Human capital is our key to success|
In such unsecured economy, CIMAS is deeply aware that these challenges are also the company’s cannot-be-missed opportunities to keep moving ahead with its development strategy. Unlike other companies choosing budget cutting and manpower reducing, CIMAS maintains its due investment to increase company value by improving its core capabilities and focusing on its people – who are the key to company’s future success. Besides upgrading company’s facilities equipped with the world advanced technologies which enable CIMAS to jump into international business network, CIMAS also take care its employees with favorable working condition and work-life balance policies aiming at keeping them motivated and engaged in the long run.
Overcoming all the difficulties, CIMAS has now affirmed its competitive position in the local engineering market with more than 200 competent and energetic engineers, confidently taking over any EPC project, step by step making true its utmost target to become one of the biggest EPC contractors in Vietnam. That may take years to come true, but Board of Directors, Management Team members and all CIMAS employees understand thoroughly that moving forward jointly is the only way to accelerate its strategies and keep mastering market share in the years to come.
Lee Ming Shyan