State President signed the Decision No. 2365/QD-CTN dated December 13, 2013 to confer the title “Labour Hero” to Ba Ria Vung Tau Urban Sewerage and Development One Member Limited Company (Busadco) in recognition of its “excellent achievement in labour, creativity and contribution to the cause of building socialism and protecting the nation.” This is the first business of Ba Ria – Vung Tau province to be decorated the “Labour Hero in Renovation Era” title. Previously, Dr. Hoang Duc Thao, Chairman and CEO of Busadco, was named the Labour Hero in 2011. Hence, Busadco is one of very few companies in the country to receive the “Labour Hero” title for both collective and individual.
Busadco, established on June 18, 2003, is the first science and technology company in the country. The wholly State-owned enterprise is mainly involved in activities for public interest in urban drainage field; research and application of science and technology; urban investments and development; construction and installation of civil and industrial works, urban technical infrastructure, and environmental protection services. Busadco always outstandingly outperforms in any field of operation.
In public service, Busadco is a leading urban drainage company in the country. Labour productivity in drainage system dredging is 10 times higher than the State-set level and that in other companies. The company uses mechanical tools for dredging instead of manual labour, thus avoiding harm and danger on human beings and actively preventing widespread flooding. As an investor of water drainage system construction and environmental protection, Busadco strictly follows legal requirements on project management, completes and operates works on schedule. Besides, Busadco actively promotes and seeks non-refundable grants and low-rate loans from foreign organisations to increase benefits for the country. Currently, Busadco is the investor of seven ODA projects with a total value of over VND5,000 billion.
In research and applications of science and technology, Busadco is the national leader in technological innovation and application. The company has many achievements in advanced scientific and technological application, new technologies, technical innovation and improvement. So far, Busadco has more than 30 useful initiatives and solutions with 30 scientific and technological products.
The company always makes business growth every year. From 2004 to 2012, revenue increased 34 times, profit expanded 13 folds, State budget payment leaped 360 times, labour force increased 7.5 times, and average income soared 2.5 times. Return on equity is over 20 per cent. With over 85 per cent of revenue generated from scientific and technological products, Busadco is considered a pioneer in water drainage. This result is the agent for the Ministry of Science and Technology to propose the Government amending and supplementing Decree 80/2007/ND-CP on scientific and technological enterprises.
Quoc Hung
Đăng ký: VietNam News