C47 Honored for 16th Consecutive Year in Vietnam's Top 500 Private Enterprises

C47 Celebrated 16 Years of Recognition in the VNR500 Rankings

Construction 47 (C47) was recognized at the VNR500 rankings announcement ceremony on January 18, 2024. The event, organized by Vietnam Report JSC in collaboration with VietNamNet under the Ministry of Information and Communications, honors the Top 500 Largest Enterprises in Vietnam and the Top 500 Largest Private Enterprises in Vietnam, as well as prestigious companies across various industries.

The VNR500 rankings, modeled after the Fortune 500, acknowledge companies making significant contributions to Vietnam’s economic development. These rankings are based on independent research and evaluation adhering to international standards, a practice consistently published annually since 2007 with input from both domestic and international experts.

As a leading enterprise in the construction sector, renowned for its scale, reputation, and capabilities, C47 first appeared in the Top 500 Largest Private Enterprises in Vietnam within the second year of the VNR500 rankings in 2008. For an impressive 16 consecutive years, C47 has maintained this recognition, solidifying its position as one of the 42 construction enterprises within the Top 500 Largest Private Enterprises in Vietnam for 2023.

Mr. Phong, Pham Nam (wearing a green suit) – Chairman of the Board of Directors of Construction 47 – received the certification “Top 500 Largest Private Enterprises in Vietnam 2023” at the Announcement Ceremony

With a history spanning almost half a century, C47 has established itself as a specialist in the construction industry, particularly excelling in hydroelectric projects. Beyond a strong track record of delivering major projects valued at billions of Vietnamese dongs within Vietnam, C47 is expanding its influence in regional markets.

In the Lao People’s Democratic Republic (Lao PDR), C47 is actively involved in the Nam Phak hydroelectric project, contributing to the construction of the Nam Pha, Nam Phak, and Phouphong dams – representing a combined value of nearly VND 800 billion. Furthermore, C47 is partnering with Power Engineering Consulting Joint Stock Company 3 (EVNPECC3) on the Nam Neun 1 hydropower project through an EPC contract encompassing the design, supply, installation of hydraulic machinery, and construction, valued at USD 184,999,999.

Signing ceremony of Nam Neun 1 Hydropower Project, Lao PDR with the participation of C47 in the joint venture general contractor

Recognizing the growing importance of sustainability, C47 is proactively engaging in new business areas focused on renewable energy and projects aimed at reducing greenhouse gas emissions, bolstered by the support of Vu Phong Energy Group – a significant shareholder of C47 (through VP Invest).

Vu Phong Energy Group offers a range of solutions supporting businesses in their transition to green energy, including rooftop solar power as an investor, developer, and installer. They are also focused on expanding clean energy initiatives, and have set an ambitious goal to enter the VNR500 rankings themselves by 2028 – a milestone marking the company’s 20th anniversary.

Mr. Phong, Pham Nam – Chairman of the Board of Directors of Construction 47, Chairman of the Board of Directors of Vu Phong Energy Group and Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group at the Announcement Ceremony

“In the future, C47 will continue to leverage its core expertise in hydroelectric projects construction to solidify its reputation in both domestic and regional markets,” stated Mr. Phong, Pham Nam, Chairman of the Board of Directors of Construction 47 and Vu Phong Energy Group. “We will also intensify our efforts in business areas related to the green transition and sustainable development, working closely with Vu Phong Energy Group and other businesses in Vietnam, particularly those within the VNR500, to achieve sustainable growth and enhance the capabilities and position of Vietnamese businesses on a global scale.”

Vu Phong Energy Group