Firstly, on behalf of the entire leaders and employees of CC47, I would like to express my thank for our shareholders for trusting and accompanying us during the past time, wish you health, happiness, success, and hope you keep supporting and accompanying with us in the long run.

Dear shareholders, CC47 is one of the leading enterprises in the construction industry, the Company has been highly appreciated by the Government, Ministries and investors and assigned to execute many large projects in the country. Typical projects could be mentioned such as: Dinh Binh Reservoir in 2008 (850 billion), Van Phong Dam in Binh Dinh Province in 2015 (384 billion), Nuoc Trong Reservoir in Quang Ngai Province in 2017 (1,052 billion), Ta Ruc Reservoir in Khanh Hoa Province in 2017 (242 billion), Phuoc Hoa Water Canal in Binh Duong Province in 2011 (336 billion), …Hydropower projects such as Dong Nai 4 Hydropower Plant in Dak Nong Province in 2012 (2,600 billion), Trung Son Hydropower Plant in Thanh Hoa Province in 2017 (2,959 billion), Thuong Kontum Hydropower Plant in Kontum Province in 2020 (1,700 billion), and many other irrigation and hydroelectric projects domestically. The works the company has constructed have been highly appreciated by the Ministry and Industry for their quality and progress and won many quality awards from the State and the Industry.

CC47 was awarded the First-class Labor Medal by the Party and State in 1997, the Second-class Independence Medal in 2011, and conferred the title of Labor Hero in the renovation period in 2000….

In addition, the Company is operating in the fields of Restaurants, Hai Au Hotels (4 stars) and Hai Au Bien Cuong Hotel (3 stars), Domestic and International travel, Labor export…

Currently, CC47 is constructing irrigation works for Tan My Main Dam (1,740 billion), Dong Mit Main Dam (1,035 billion), Hoa Binh Hydropower Expansion (916 billion), Da Nhim Hydropower Plant Expansion (713 billion).

Recently, due to the impact of the Covid-19 pandemic, which led to economic decline, production stagnation, interruption in logistics services. To encourage economic development, the governments of the countries implemented easy fiscal and monetary policies and especially increased public investment in infrastructure. On the other hand, in recent times, due to the Chinese government’s restriction on old-fashioned steel mills, the price of steel billets has increased, and at the same time, there is a shortage of steel ingots for domestic factories.

Due to the delay in supply chain, abovementioned easy monetary and fiscal policies, a great demand of construction in other countries, as well as the restraints from Chinese Government, the material prices suffered a huge rise, particularly prices of steel, oil, bidding, logistics services which strongly affect input costs of Contractors including CC47.

However, the current projects which were successfully procured and in charge of by CC47 are executed in the long time and invested by Ministry of Agriculture and Rural Development, Vietnam Electricity. All contracts under construction are subject to price adjustment, specifically as follows:

– Package 20 Main dam and Sub-dam of Tan My Irrigation System, Package No. 05-XL Dong Mit Reservoir are adjusted by the method of direct compensation when there are fluctuations in the price of raw materials, labor, and when the State changes policy regimes.

– Package DNE 12.1 Construction work – Da Nhim Hydropower Extension Project is adjusted for the cost of labor, fuel, cement, iron and steel and other materials according to the price indexes of Lam Dong and Ninh Thuan.

– Package No. 1XL-HB Construction and installation of the expanded Hoa Binh hydroelectricity project is subject to price adjustment when the government changes regulations on VAT; In case the prices of supplies, materials and fuels increase abnormally, they shall be adjusted when permitted by the competent authorities.

Thus, CC47’s construction contracts with reputable investors, adequate capital arrangements, are allowed to adjust prices when the government changes policies, and when there are fluctuations in wages, material prices, etc, therefore, there is no risk due to sudden price spikes.

On the other hand, to encourage economic development during the pandemic, the State is currently increasing public investment, accelerating the implementation of key projects in hydropower, irrigation and other infrastructure, this is also an opportunity and the strength of CC47 to participate in bidding for projects in the coming time.

CC47 would like to inform shareholders of the aforementioned information and look forward for your continuous attention, support and company in the long run.

Yours faithfully./.

GENERAL DIRECTOR (signed) Duong Minh Quang

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HÀ NỘI — With an increasing demand for electricity in Việt Nam, the wind power construction sector has flourished, with local and foreign firms getting in on the action.

A top executive at Coteccons, one of the biggest realty firms in Việt Nam, told media the firm may invest in wind power construction due to the opportunities on offer.

Coteccons’ deputy general director Phan Hữu Duy Quốc said: “We are associated with a large consulting enterprise in the power industry to participate in the bidding as an EPC general contractor of wind power projects,” adding, “In the future, we may consider investing in the field.”

Similar to Coteccons, realty firm Phát Đạt is considering investing in wind power while construction firm Licogi 16 is awaiting Government approval to implement four wind power projects in Gia Lai and Quảng Trị provinces with its Japanese and German partners.

Licogi 16 said it was studying some offshore wind power projects for potential future investment.

The firm Power Construction 1 plans to finish three wind power projects of Liên Lập, Phong Huy and Phong Nguyên in Quảng Trị Province before October 31 as it continues to survey, research and develop new projects in other areas.

With its experience from the construction of large hydroelectric and irrigation projects, the firm Construction 47 also plans to expand its work into wind power in the near future while the SCI E&C Company will execute the wind power projects Hướng Phùng 2&3, Gelex 1,2,3 and Hướng Linh 7&8 in Quảng Trị Province.

Known as the leading foundation engineering and underground construction company in Việt Nam, FECON Corporation is also building six wind power plants across the country.

Quốc from Coteccons told local media: “The profit margin for civil construction is approximately 5 per cent, while infrastructure and wind power construction can make a higher profit.”

According to a report from Vietnam Electricity (EVN), as of March 22, there were about 4.4GW of wind power projects under construction while a remaining 6.2GW would be developed in 2022-2025, based on the draft Power Master Plan 8.

Lots of foreign investors have also been reported to be mulling an investment in Vietnamese wind power.

Less than a month after Trung Nam Group inaugurated the largest wind farm of Việt Nam in Ninh Thuan, Hitachi SE’s renewable energy business expanded its market to Việt Nam by signing a strategic co-operation agreement with the group, buying more than 35 per cent of the stake in the wind farm on May 14.

Seeing Trung Nam Group‘s 151.95 MW wind farm worth VNĐ4 trillion (US$172.4 million) with an estimated output of 432,000,000 kWh per year, as a quality, long-term and effective project, the Japanese investor bought in as a way to further implement renewable energy projects in Việt Nam.

This month, the Central Highlands province of Đắk Lắk granted in-principle investment approval to six foreign-funded wind power projects worth more than VNĐ10.08 trillion while the People’s Committee of Hậu Giang Province did the same thing for a VNĐ3.2 trillion wind power plant project from Hong Kong’s Envision Energy Company.

According to SSI Research, assuming electricity consumption growth of about 7.6 to 8 per cent in 2022-2025, there was still room to deploy a wind power project with a capacity of 6.2GW.

According to the World Bank’s assessment, Việt Nam is the country with the largest wind power development potential of Laos, Thailand, Cambodia and Việt Nam, with more than 39 per cent of Việt Nam’s total area estimated to have an average annual wind speed per year greater than 6m per second at an altitude of 65m, equivalent to a capacity of 512 GW. — VNS.

Nguồn: https://vietnamnews.vn

On April 19^th, 2021 Construction Joint Stock Company 47 held the Summary Conference of Business Activities in 2020 and Laborer Conference in 2021 at Building 47 – Hai Au Bien Cuong Hotel, nestled on No.8 Bien Cuong Street, Quy Nhon City, Binh Dinh Province.

Attending the conference were Mr. Truong Nhat Quang – Advisor of the Board of Management (BOM), Mr. Le Trung Nam – Chairman of the Board of Management; Mr. Pham Nam Phong – Vice Chairman of the Board, Mr. Duong Minh Quang – Member of the Board of Management cum General Director, Mr. Ta Nam Binh – Member of the Board of Management cum Chairman of the Audit Committee, Mr. Nguyen Huu Hai – Member of the Board of Management cum Deputy General Director, Mr. Vo Trong Hieu – Member of the Board of Management cum Vice Chairman of Auditing Committee; members of the Board of Directors, Internal Audit Committee and more than 110 officers and employees representing the functional departments and units under the Company.

The conference listened to the report on business performance evaluation in 2020, production directions and plans for 2021; Report on assessment of Trade Union activities in 2020, duties in 2021 and the implementation of the collective labor agreement; Report on financial publicity, use of welfare fund and bonus fund in 2020.

The delegates attending the conference participated in discussing and contributing opinions on production and business results evaluation reports in 2020, production directions and plans for 2021; Report on assessment of Trade Union activities in 2020, and Business tasks in 2021. The conference listened to the direction of the Board of Directors and the answer of the General Director of the company about the recommendations of the subordinate units. The meeting agreed to approve a number of key issues such as: The direction to implement the business and production plan in 2021 approved by the General Meeting of Shareholders on April 18, 2021; Tasks and trade union activities in 2021.

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