The Party Committee of the Urban Infrastructure Development Investment Corporation (UDIC) on June 14 held its 5th Party Congress for the 2025-2030 term.

Attending the event was Duong Duc Tuan, Standing Member of the Hanoi Party Committee and Deputy Chairman of the Hanoi People's Committee.

Despite many challenges during 2020-2025, UDIC successfully maintained stable operations, ensured employment for its workers, preserved and grew state capital, and met all revenue targets set in its previous Party Congress resolution.

Over the past five years, UDIC achieved VND26.4 trillion (US$1 billion) in total production and business value, and VND48.8 trillion ($1.9 billion) in total revenue, with an average annual growth rate of 6.69%.

Post-tax profit totaled VND8 trillion ($305.7 million), averaging 3.12% annual growth. The company contributed VND4.4 trillion ($168 million) to the state budget during this period.

For the 2025-2030 term, UDIC aims to strengthen its position as a key player in real estate investment, construction, urban development, and infrastructure services, with a lean, modern, and efficient management model.

Specific targets include maintaining average annual revenue and post-tax profit growth of at least 8%. Annual revenue is expected to reach VND9.2 trillion ($351.5 million), with a goal of VND11 trillion ($420.3 million) by 2030.

Average monthly income per employee is projected to be VND13 million ($497), with a goal of VND17 million ($650) by 2030.

In terms of Party development, UDIC aims for 95% or more of its grassroots Party organizations to meet or exceed performance standards annually, with no underperforming units, and at least 90% of Party members to fulfill their duties, with 20% achieving excellence.

The company also plans to admit 40-45 outstanding individuals to the Party each year, totaling 200 new members by the end of the term.

In his directive speech at the congress, Deputy Chairman Duong Duc Tuan praised UDIC as a leading state-owned enterprise actively participating in Hanoi's major urban development programs.

He emphasized that unity within the Party Committee is the key factor behind UDIC's success over the past five years.

Looking ahead, he noted that the 2025-2030 period marks a new development phase for Hanoi, with a target GRDP growth rate of 8% per year, driven by innovation, green growth, the digital economy, and modern urban development. These trends present both opportunities and challenges for UDIC.

He urged the Party Committee to focus on two strategic breakthroughs: real estate investment and digital transformation.

Real estate should be UDIC's top priority, he said, encouraging the company to quickly adopt new policies from the National Assembly and the Government regarding social and commercial housing.

"This is a golden opportunity for UDIC to expand its footprint and develop signature projects that help address Hanoi's housing needs," he said.

As Hanoi accelerates digital economic development and smart city initiatives, Tuan called for UDIC to take the lead in applying new technologies and implementing comprehensive digital transformation, from corporate governance to project execution, to enhance competitiveness and operational efficiency.

The Deputy Chairman also emphasized the importance of internal capacity building through corporate restructuring and Party development.

He urged the Party Committee to stay closely aligned with new Politburo resolutions on science, technology, international integration, and legal reform, and to implement all directives from the Hanoi Party Committee, People's Council, and People's Committee related to technical infrastructure, social housing, and corporate governance.

At the conclusion of the congress, the Party Committee elected its new executive board for the 2025-2030 term. Giang Quoc Trung, Chairman of UDIC Members' Council, was elected as the new Party Secretary of the corporation.