With the vision of becoming an EPC general contractor, Vilai Viet has implemented an ESG integration plan to accomplish the sustainable development goal with the strategic vision till 2027. Not only focusing on activities to reduce the harmful impact on the environment, Vilai Viet intends to deploy activities associated with our business model, giving priority to improving the internal capacity of our staff.

Developing sustainably is the goal, ESG is the method

ESG is the management orientation that many businesses are currently interested in and apply. With the vision to become an EPC General Contractor specializing in FDI customers, in 2024, Vilai Viet also completed the plan to integrate ESG into our business model. However, this is neither our main purpose nor the core of Vilai Viet. ESG is simply a method that Vilai Viet finds suitable to apply for the company at present, helping the company prepare better for the goal of sustainable development.

The goal Vilai Viet aims to is sustainable development along with the long-term happy future of our members. To make this vision happen, strengthening internal capacity, improving the benefits for employees, and sharing social responsibility are the main missions Vilai Viet needs to prioritize. The ESG system including 3 factors: Environment - Social - Governance is the method Vilai Viet refers to in order to create a comprehensive view and evaluate the changes we created.

ESG Practice Motto

Demand - Value - Adaptation is the 03 most important factors that Vilai Viet considers when implementing ESG. Every ESG activity needs to align with the business model, be able to solve core problems and have a positive impact on the current activities of Vilai Viet.

After referring to the Risk Evaluation Model by Cambridge, Vilai Viet summarized the 05 most important risks for the company at the moment, thereby creating an ESG plan that includes 03 groups of preventive measures and 07 main activities to handle the discovered risks.

Activities in Vilai Viet ESG Plan

In the next 03 years (2024 - 2027), Vilai Viet ESG Plan intends to implement 03 main activities, including:

• Solutions to green building and energy efficiency
• Develop a welfare system for employees
• Integrate environmental and social management system

Solutions to green design and energy efficiency 

Green Building and Energy Efficiency are the inevitable tendencies. The global warming along with the exceeding of many ecological limits is motivating many countries to join hands in efforts to protect the environment. These responsibilities are shared with businesses, creating more regulations regarding construction, production, and providing services.

Applying green building & energy efficiency solutions is the key to helping businesses minimize the consumption of resources and harmful impact on the environment. These solutions not only effect positively to the environment but also help the investor save costs during the operation process.

Doesn’t stop at promoting international green building certificates like LEED, LOTUS, etc., Vilai Viet aims to deploy an individual set of energy efficiency solutions, customized according to the needs of each construction. In coordination with sustainable partners, the set of solutions proposed by Vilai Viet will support investors in minimizing investment costs while still ensuring optimal energy. This will also become an alternative solution for green companies that don’t need certificates.

Develop a welfare system for employees

To accomplish the purpose that Vilai Viet aims for, the core factor determining success is the personnel. All members of Vilai Viet need to unite and do their best in order to help the company grow strongly. Therefore, ensuring welfare so that employees can have a stable and sufficient life is one of the main activities Vilai Viet focuses on in our ESG plan for sustainable development.

Currently, the welfare system of Vilai Viet is relatively complete. However, to encourage employees to adapt and further develop, Vilai Viet needs a comprehensive and transparent system regarding reward and punishment regulations, promotion pathways, and the required skill sets for each position.

By applying the 360 Feedback method, in 2023, Vilai Viet has taken initial steps to implement a more comprehensive and systematic personnel evaluation. In 2024, the employee welfare system with clear evaluation policies and regulations will be completed, with plans to be put into operation by 2025. This will be a significant step forward to encourage company members to reflect on themselves, update their skills, and be prepared to face future challenges.

Integrate environmental and social management system

Vilai Viet is a young construction company with the ability to adapt quickly to the market. On the other hand, this also means that the company lacks a strict management system, experience, and a comprehensive approach to handle future risks. Therefore, when implementing the ESG plan aimed at sustainable development, Vilai Viet needs to integrate a logical and comprehensive management system to continue its growth.

The proposed management system of Vilai Viet will include:

• Risk management
• Stakeholder management
• Organizational capacity building
• Focus on environmental and social issues

Based on this system, Vilai Viet will minimize risks, anticipate and prevent labor issues, enhance organizational capabilities, and improve to seize future opportunities.

The journey to follow ESG continues...

Implementing ESG is an initiative that Vilai Viet officially embarked on at the end of 2023. By mid-2024, Vilai Viet had officially made it into the Top 10 of the ESG Initiative Competition 2024 with three outstanding initiatives. After six months of participating in the program, Vilai Viet has had the opportunity to learn a more comprehensive set of skills related to ESG and refine our ESG integration plan with the guidance of several experienced industry experts. Maintaining the ultimate goal of sustainable development, participating in ESG practices is the initial step in Vilai Viet's journey towards our long-term direction