30 Years of Establishment and with a Second-Class Labor Medal
HANOI, VIETNAM – Media OutReach Newswire – 9 May 2025 – The Vietnam Maritime Corporation (VIMC) is poised to celebrate a monumental milestone—three decades of establishment, growth, and significant contributions to Vietnam’s maritime industry. During this occasion, VIMC will receive the Second-Class Labor Medal, an acknowledgment that reflects its remarkable journey and dedication to enhancing the nation’s maritime capabilities. Esteemed leaders from Vietnam’s Party and Government, as well as representatives from the Ministry of Finance, strategic partners, customers, and VIMC’s dedicated workforce, are expected to be in attendance.
Three Decades of Establishment and Development
Founded on April 29, 1995, VIMC—previously known as Vinalines—emerged through the restructuring of various entities involved in shipping, port operations, and maritime services. Back then, Vinalines had a modest charter capital of less than VND 1,500 billion and a fleet consisting of 49 vessels, averaging 21.5 years in age, with a combined tonnage of 400,000 DWT. The corporation had limited port infrastructure, managing just 6,900 meters of berth.
Over the years, VIMC has navigated various phases of growth. At its height, the corporation expanded its fleet to 159 vessels, achieving a total capacity of nearly 3.5 million DWT—accounting for an impressive 45% of the national total tonnage. However, the global financial crisis of 2008 brought significant challenges, pushing VIMC into a precarious position, nearly leading to bankruptcy.
Fortunately, during this tumultuous period, strategic guidance and support from the Government and relevant ministries provided a lifeline. Embracing the resilience of its seafarers, VIMC implemented transformative solutions fueled by determination and innovation.
Transformation and Strategic Growth
A comprehensive restructuring led VIMC to streamline its operations, focusing on three primary business pillars: port operation, shipping, and maritime services. The corporation made decisive moves to divest from loss-making entities while adopting modern governance and business models. Integrating new management tools and customer-centric strategies across all operations greatly improved efficiency and effectiveness.
As a result of these initiatives, VIMC has experienced remarkable recovery and development. Once struggling with an equity deficit of approximately (USD 180 million) VND 4,600 billion, the corporation has now grown to (USD 900 million) VND 17,000 billion in equity capital. Today, VIMC proudly stands as a publicly listed enterprise with a market capitalization exceeding (USD 4 billion) VND 100,000 billion. It operates over 16 key seaports, handling nearly 30% of Vietnam’s total cargo throughput while ambitiously modernizing and expanding its shipping fleet.
Notable investments in major deep-sea ports, including Cai Mep – Thi Vai, Lach Huyen, and the Can Gio International Hub Port, are pivotal in enhancing Vietnam’s maritime position globally. Throughout its 30-year journey, VIMC’s relentless focus on innovation has unlocked new pathways for sustainable growth, laying a firm foundation for future groundbreaking advancements.
30th Anniversary Ceremony
The celebratory ceremony for VIMC’s 30th anniversary and the awarding of the Second-Class Labor Medal is scheduled for May 10, 2025, at the National Convention Center. This momentous occasion will gather senior leaders from Vietnam’s Party and Government, alongside representatives from ministries, international organizations, and business partners, as well as the entire VIMC workforce.
Le Anh Son, Chairman of VIMC’s Board of Directors, is expected to deliver a heartfelt address: “Receiving the Second-Class Labor Medal from the President is not just an honor but also a source of encouragement for all VIMC employees. Our 30-year journey has been one of growth, challenge, and transformation. VIMC is dedicated to expanding its operations, enhancing competitiveness, and making significant contributions to Vietnam’s economy.”
Sustainable Development Strategy
Looking ahead, VIMC aims to optimize port operations, expand logistics services, and modernize its fleet with environmentally friendly vessels. The corporation is actively collaborating with leading global shipping companies to bolster Vietnam’s maritime connectivity. VIMC envisions developing an integrated logistics system that connects inland container depots (ICDs) and logistics centers to deep-water ports through rail and inland waterway transportation. This strategic approach seeks to minimize environmental emissions and alleviate the burden on the road transport network, aligning with Vietnam’s ambitious goal of achieving net-zero emissions by 2050.
Furthermore, VIMC is placing a strong emphasis on digital transformation, leveraging artificial intelligence (AI) and big data within port operations and maritime logistics. These innovations aim to optimize costs, enhance efficiency, and significantly reduce environmental impact while driving sustainable growth.
Navigating into a New Era
As a leader in Vietnam’s maritime sector, VIMC is unwaveringly dedicated to fostering economic growth, facilitating international trade, and enhancing the competitiveness of the nation’s port system. The corporation’s forward-looking vision includes maintaining sustainable growth and adopting global standards for green shipping and smart logistics.
The 30th anniversary represents a pivotal milestone in VIMC’s ongoing journey. With a robust foundation and a clear strategic vision, the corporation continues to assert its leadership in the maritime sector, striving for sustainable development and deeper global integration. With a well-defined strategic direction and ambitious goals, VIMC is marching steadily toward its aspiration of becoming a premier maritime corporation in the region.
Hashtag: #VIMC
https://vimc.co/About VIMC
Established in 1995 under Prime Minister’s Decision No. 250 / TTg, VIMC has positioned itself as a core enterprise of Vietnam’s maritime industry. In its 29 years of operation, VIMC has emerged as a leading entity in fostering cooperation and international integration while providing maritime services on a global scale, significantly contributing to Vietnam’s marine economy. VIMC transitioned to operate as a joint-stock company on August 18, 2020.
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