BECAMEX GROUP REPOSITIONS ITSELF TO EMERGE AS A NATIONAL INDUSTRIAL CONGLOMERATE
The year 2025 signifies a major milestone for Becamex, as the corporation officially changes its name, relocates its headquarters, and launches a historic capital-raising plan. Building on strong business performance, this “new game” presents both opportunities and challenges for the group. The following article analyzes two key pillars of Becamex’s transformation: organizational and brand restructuring, and financial and investment strategy in this new phase of development.
TRANSFORMING TO REACH NEW HEIGHTS
At the General Shareholders’ Meeting held on September 29, 2025, Becamex shareholders approved the renaming of the company from Becamex IDC Corporation to Becamex Investment and Development Group Joint Stock Company, abbreviated as Becamex Group. Along with the name change, the group’s headquarters will be relocated from Binh Duong to mPlaza Saigon, 39 Le Duan Street, Saigon Ward, Ho Chi Minh City.
The old headquarters of Becamex was located at WTC Tower, Binh Duong Ward.
The renaming and relocation are not merely formalities but represent a declaration of a new ambition: to transform from the “industrial leader of Binh Duong” into a national-scale conglomerate, integrated into the dynamic business environment of Ho Chi Minh City. With a large land bank and long-standing industrial advantages in Binh Duong (the former base), Becamex aims to play a connecting role in shaping the new core economic region of southern Vietnam, in line with the government’s orientation toward provincial and urban integration.
Chairman Nguyen Van Hung described this as “a major turning point,” emphasizing that it is not only a physical relocation but also a transformation in strategic business mindset, a renewal of corporate culture, and an effort to enhance the group’s attractiveness to both domestic and international strategic investors.
Mr. Nguyen Van Hung -Chairman of Becamex Group
However, this transformation also brings significant pressure. Relocating the headquarters, building a new organizational structure, and adapting to the highly competitive environment of Ho Chi Minh City will not be easy. The success or failure of this move will depend on how effectively Becamex executes each step — from human resources and corporate culture to management systems and strategic planning. This is a process of “slowing down to restructure,” requiring persistence and determination to avoid falling into a state of half-hearted transition.
LAYING THE FOUNDATION FOR A NEW DEVELOPMENT STAGE
One of Becamex’s most notable initiatives is its plan to offer 300 million shares through auction on the Ho Chi Minh City Stock Exchange (HOSE) at a starting price of VND 69,600 per share, with the goal of raising its charter capital from VND 10,350 billion to VND 13,350 billion. If successful, the company is expected to raise at least VND 20,880 billion.
The capital raised will be allocated into two main groups: expanding industrial zones such as Cay Truong and Bau Bang, and contributing capital to VSIP projects; nearly VND 4,300 billion will also be used for debt repayment.
However, due to fluctuations in the economy and the stock market, the initial public offering could not be fully implemented. The management decided to divide it into two phases:
-
In the first phase, 150 million shares will be auctioned at a price not lower than VND 50,000 per share, with a minimum fundraising target of VND 7,500 billion.
-
The remaining portion will be executed in subsequent phases when market conditions are more favorable.
Rendering of the Cay Truong Industrial Park
In terms of business performance, Becamex has shown positive signals in the first quarters of 2025. In Q2/2025, net revenue reached VND 2,521 billion (up 117% year-on-year), while profit after tax was VND 1,466 billion, 3.9 times higher than Q2/2024. Cumulatively for the first six months, both revenue and profit increased sharply (by 122% and 351%, respectively) compared to the same period in 2024.
Nevertheless, challenges remain. Access to significant financial resources also comes with pressure to use capital efficiently, manage project implementation risks, and compete in the industrial and infrastructure development sectors. Becamex must tightly control cash flow, ensure project timelines, and manage risks related to costs and capital recovery.
As of June 30, 2025, Becamex’s total assets stood at VND 57,291 billion, slightly down compared to the beginning of the year; total liabilities reached VND 35,878 billion, down 5.84%. The company’s asset structure still relies heavily on inventories and long-term financial investments.
Recent business results show that Becamex has maintained a stable growth trajectory, creating a solid foundation for its transformation strategy. However, to reach the ambition of becoming a “multi-billion-dollar corporation,” as envisioned, there are still many steps to take and challenges to overcome.
Source: Becamex Group