30 Years of Establishment and a Second-Class Labor Medal
HANOI, VIETNAM – Media OutReach Newswire – 9 May 2025 – The Vietnam Maritime Corporation (VIMC) is set to commemorate its 30th anniversary while proudly receiving the Second-Class Labor Medal. This milestone reflects three decades of steadfast growth and pivotal contributions to Vietnam’s maritime industry. Esteemed leaders from Vietnam’s Party and Government, the Ministry of Finance, strategic partners, and VIMC’s dedicated workforce will grace the celebration.
Three Decades of Establishment and Development
The Vietnam Maritime Corporation, originally named Vinalines, was established on April 29, 1995, through the consolidation of several shipping, port operations, and maritime service companies. When it first launched, Vinalines boasted a moderate charter capital of less than VND 1,500 billion, overseeing a fleet of 49 vessels, each with an average age of 21.5 years and a combined tonnage of 400,000 DWT. At the time, the corporation faced a significant challenge: only 6,900 meters of berthing space was available.
Over the years, VIMC underwent various phases of growth and transformation. At its zenith, the corporation managed a fleet of 159 vessels, translating to nearly 3.5 million DWT, accounting for a substantial 45% of the national total tonnage. However, the global financial crisis of 2008 inflicted severe challenges, nearly driving VIMC to insolvency.
Resilience and Strategic Direction
In this turbulent period, the government and relevant ministries played crucial roles in guiding VIMC through the crisis. Drawing inspiration from the resilience of its seafarers, the corporation adopted transformative strategies over the subsequent decade. A comprehensive restructuring saw VIMC streamline its operations, focusing on three core domains: port operations, shipping, and maritime services.
Decisive divestment from unprofitable entities was accompanied by the implementation of modern governance and business models. Customer-centric strategies and contemporary management tools were integrated, fostering greater operational efficiency and effectiveness.
Today, following its recovery and growth from an equity deficit of USD 180 million (approximately VND 4,600 billion), VIMC boasts an equity capital of USD 900 million (about VND 17,000 billion). Now a publicly listed enterprise, VIMC’s market capitalization exceeds USD 4 billion (around VND 100,000 billion). The corporation operates over 16 major seaports, facilitating nearly 30% of Vietnam’s total cargo throughput and continually enhancing its shipping fleet.
Pioneering Investments
VIMC has taken the lead in investing in imperative deep-sea ports such as Cai Mep – Thi Vai, Lach Huyen, and the Can Gio International Hub Port. These projects are strategically significant as they aim to bolster Vietnam’s maritime position on the global stage. The relentless drive for innovation not only enabled recovery but also opened new avenues for sustainable growth, positioning VIMC to embrace future advancements.
30th Anniversary Ceremony
The commemorative ceremony for VIMC’s 30th anniversary and the honor of receiving the Second-Class Labor Medal will take place on May 10, 2025, at the National Convention Center. Senior leaders from Vietnam’s Party and Government, representatives from ministries and international organizations, business partners, and VIMC’s entire workforce will be in attendance.
During the ceremony, Le Anh Son, Chairman of VIMC’s Board of Directors, is expected to convey, “The Second-Class Labor Medal, awarded by the President, is a tremendous honor and encouragement for all VIMC employees. Our 30-year journey is not only one of growth but also of challenges and innovation. VIMC is committed to expanding its operations, enhancing competitiveness, and making significant contributions to Vietnam’s economy.”
Sustainable Development Strategy
Looking ahead, VIMC is focused on optimizing port operations, broadening logistics services, and modernizing its fleet with environmentally-friendly vessels. The corporation is actively collaborating with renowned global shipping firms to strengthen Vietnam’s maritime connectivity. Through the development of an integrated logistics system, which connects inland container depots (ICDs) and inland logistics centers to deep-water ports via rail and inland waterway transportation, VIMC seeks to minimize environmental emissions and alleviate the strain on road transport. Such initiatives align with Vietnam’s goal of achieving net-zero emissions by 2050.
Emphasizing digital transformation, VIMC is integrating artificial intelligence (AI) and big data into its port operations and maritime logistics. These advancements are set to enhance cost-effectiveness, efficiency, and environmental sustainability—ultimately driving growth in a responsible manner.
Navigating into a New Era
As a leading force in Vietnam’s maritime sector, VIMC is dedicated to fostering economic progress, facilitating international trade, and boosting the competitiveness of the nation’s port infrastructure. VIMC’s vision for the future encompasses sustainable growth alongside the adoption of global standards for green shipping and intelligent logistics.
The 30th anniversary signifies a critical juncture in VIMC’s journey. With a stable foundation and a well-defined strategic vision, the corporation is poised to assert its leadership in the maritime sector, striving for sustainable development and deeper integration into the global economy. With bold ambitions and clear direction, VIMC is advancing steadily toward its goal of becoming a premier maritime entity in the region.
Hashtag: #VIMC
https://vimc.co/The issuer is solely responsible for the content of this announcement.
About VIMC
Established in 1995 under the Prime Minister’s Decision No. 250 / TTg, VIMC aims to serve as the core and key enterprise in Vietnam’s maritime industry. Over nearly three decades, VIMC has emerged as a leading force in fostering international cooperation, integration, and the provision of maritime services on a global scale, significantly contributing to the development of Vietnam’s marine economy. VIMC transitioned to operate as a joint-stock company on August 18, 2020.
Disclaimer: This press release is not produced by DagangNews. DagangNews bears no responsibility for the content. For any inquiries regarding this release, please refer to the mentioned contact.