CORPORATE RESTRUCTURING IN STATE-OWNED CONSTRUCTION SECTOR IN VIET NAM: THE CASE OF VINACONEX CORPORATION _ A DISSERTATION Presented to the Faculty of the Graduate School Southern Luzon State University, Lucban, Quezon, Philippines in Collaboration with Thai Nguyen University, Socialist Republic of Vietnam _ In Partial Fulfillment of the Requirements for the Degree Doctor of Business Administration _ By NGUYEN PHUC HUONG (PETER HEER) December 2013 i APPROVAL SHEET The Dissertation of NGUYEN PHUC HUONG Entitled CORPORATE RESTRUCTURING IN STATE-OWNED CONSTRUCTION SECTOR IN VIET NAM: THE CASE OF VINACONEX CORPORATION Submitted in Partial Fulfillment of the Requirements for the Degree DOCTOR OF BUSINESS ADMINISTRATION A program jointly offered by Southern Luzon State University, Republic of the Philippines and Thai Nguyen University, Socialist Republic of Vietnam has been approved by Oral Examination Committee WALBERTO A.MACARAAN, Ph.D Expert EDWIN P BERNAL Ph.D Expert EDUARDO T BAGTANG, Ph.D Expert ALICE T VALERIO, Ph.D Expert CECILIA N GASCON, Ph.D Chairman Endorsed by: MELCHOR MELO O PLACINO, Ph.D Adviser Recommended by: APOLONIA A ESPINOSA, Ph.D Dean Accepted in Partial Fulfillment of the Requirements for the Degree Doctor of Business Administration _ Date WALBERTO A MACARAAN, Ph.D Vice President for Academic Affairs ii CERTIFICATE OF ORIGINALITY This is to certify that the research work / dissertation entitled: CORPORATE RESTRUCTURING IN STATE-OWNED CONSTRUCTION SECTOR IN VIET NAM: THE CASE OF VINACONEX CORPORATION, orally defended/ presented under the DBA Program jointly offered by Southern Luzon State University of the Republic of the Philippines and Thai Nguyen University of the Socialist Republic of Vietnam, embodies the result of original and scholarly work carried out by the undersigned This dissertation does not contain words or ideas taken from published sources or written works by other persons which have been accepted as basis for the award of any degree from other higher education institutions, except where proper referencing and acknowledgement were made _ Researcher/Candidate: NGUYEN PHUC HUONG Date Orally Defended: December 14th, 2013 Noted: iii ACKNOWLEDGMENT During completion of this study, the researcher has received significant support and collaboration from many organizations and individuals First and foremost, he likes to take this opportunity to express my profound gratitude and deep regards to my guide Dr Melchor Melo O Placino from Southern Luzon State University for his exemplary guidance, monitoring and constant encouragement throughout the course of this dissertation He would also like to thank PhD Nguyen Ngoc Thang from Vietnam National University Hanoi, Asst Prof Tran Thi Kim Thu, Ph.D, Head of Faculty of Statistics - National Economics University and all his best friends who have supported and encouraged him to complete this dissertation He also wants to acknowledge the contributions of his colleagues at subsidiaries of VINACONEX Corporation during the conduct by distributing and collecting the survey questionnaires Without this support, he could not have gathered large database for research and analysis Also, he likes to confer his gratitude to all Vinaconex leaders, other state-owned enterprises leaders and some MOC managers Lastly, he wants to express his special thanks to Thai Nguyen University and Southern Luzon State University for their cooperation in this training program which provides him with an opportunity to partake and conduct this study Nguyen Phuc Huong iv DEDICATION This dissertation is dedicated to the following persons who have been the source of my energy and strength To my ever loving father and to all my children who gave me the vitality and inspiration to complete my DBA study and my dissertation Most especially, to my wife, Nguyen Thi Huong, for her love and for believing in my abilities; for her sacrifices and understanding of leaving our home every Saturday, Sunday and often come home late after official working time to attend the DBA class, especially during the conduct of my dissertation, and most importantly for taking care of our home and our family To my friends and collaborative partners, who had always been with me and never ceased to support me NPH v TABLE OF CONTENTS PAGE TITLE PAGE ……………………………………………………………… i APPROVAL SHEET ……………………………………………………… ii CERTIFICATE OF ORIGINALITY ……………………………………… iii ACKNOWLEDGEMENT ………………………………………………… iv DEDICATION ……………………………………………………………… v TABLE OF CONTENTS ………………………………………………… vi LIST OF TABLES ………………………………………………………… viii LIST OF FIGURES ……………………………………………………… x LIST OF APPENDICES ………………………………………………… xi ABSTRACT ………………………………………………………………… xii CHAPTER I II III INTRODUCTION …………………………………………… Background of the Study ………………………………… Statement of the Problem ………………………………… Objectives of the Study …………………………………… Research Questions …………………………………… Scope and Limitations of the Study ……………………… Significance of the Study ………………………………… Definition of Terms ………………………………………… 11 REVIEW OF LITERATURE ……………………………… 13 Theoretical Framework ………………………………….… 26 METHODOLOGY ………………………………………… 31 Locale of the Study ………………………………………… 31 Research Design …………………………………………… 31 Population, Sample and Sampling Technique ………… 32 Research Instrument ……………………………………… 33 Data Gathering Procedure ………………………………… 34 Statistical Analysis ……………………… …….…… 35 vi IV Statistical Treatment ……………………… …….…… 36 RESULTS AND DISCUSSIONS ………………………… 37 Overview of the Vinaconex Corporation … ……… …… 37 General points……………………………………………… 41 Analysis on each issue relating to restructuring process 44 Analysis of differences in opinions of staffs at different ages about key issues …………………………….… V 65 SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS …………………………………… 67 Summary of Findings ………………………………….…… 67 Conclusions …………………………………….…………… 71 Recommendations …………………………….…………… 72 REFERENCES …….……………… ……… ………………………… 75 APPENDICES …………………………………………………………… 78 CURRICULUM VITAE …………………………………………………… 118 vii LIST OF TABLES TABLE PAGE Financial Data of Vinaconex for the Past Three Years …… 39 The Qualifications of Vinaconex Employees ……………… 39 Vinaconex’s Contributed Capital in Subsidiaries and Affiliates ………………………………………………………… 40 Vinaconex’s Contributed Capital to the Different Business Sectors ………………………………………………………… 40 Profile of the Respondents ………………………………… 42 Reliability Statistics …………………………………………… 44 Reasons for Corporate Restructuring ……………………… 45 Perceptions of the Employees on Corporate Restructuring 46 Perceptions of Respondents About Competition During Corporate Restructuring ……………………………………… 47 Perceptions of the Respondents in Different Job Positions about Competition …………………………………………… 48 Perceptions of the Respondents about Strategy during Corporate Restructuring ……………………………………… 48 Perceptions of Respondents in Different Job Positions about Strategy ………………………………………………… 49 Pearson Chi-Square Tests (Focus on their Core Business Areas) ………………………………………………………… 50 Perception about Conflicts Regarding Corporate Restructuring ………………………………………………… 51 Perception of Respondents in Different Job Positions about Conflict in Benefits ……………………….…………… 52 16 Pearson Chi-Square Tests (Conflicts in Perception) ……… 53 17 Perception of the Respondents about Ownership in Corporate Restructuring ……………………………………… 53 10 11 12 13 14 15 viii TABLE 18 PAGE Perception of the Respondents in Different Job Positions about the Role of Majority Shareholders …………………… 54 Pearson Chi-Square Tests (The Role of Majority Shareholders) ………………………………………………… 54 20 Perception about Leadership in Corporate Restructuring … 56 21 Perceptions of Respondents in Different Job Positions about the Role of Shareholders ……………………………… 57 22 Pearson Chi-Square Tests (Knowledge of BOM members) 57 23 Perception about Employment in Corporate Restructuring 58 24 Perception of Respondents in Different Job Positions about Opportunity to Adjust Personnel …………………… 59 Pearson Chi-Square Tests (Opportunity to Adjust Personnel) ……………………………………………………… 59 Perception of the Respondents about Technological Innovation in Corporate Restructuring ……………………… 60 Perceptions of the Respondents in Different Job Positions about Technological Innovation Demands ………………… 61 Perceptions about Corporate Governance in Corporate Restructuring ………………………………………………… 62 Perceptions of the Respondents in Different Job Positions about Corporate Governance ……………………………… 62 Pearson Chi-Square Tests (Reforming the management approach and methods) ……………………………………… 63 31 Perceptions about Finance in Corporate Restructuring … 63 32 Perceptions of the Respondents in Different Job Positions about Capital Preservation in Enterprises ………………… 64 Pearson Chi-Square Test (Capital Preservations in Enterprises) …………………………………………………… 65 Average Score of Different Ages in Assessment of Key Issues ………………………………………………………… 65 19 25 26 27 28 29 30 33 34 ix LIST OF FIGURES FIGURE PAGE Kurt Lewin’s Change Management Model …………………… 27 The Relationship between the Dependent Variable (Corporate Restructuring) and Independent Variable ……… 30 Organization Chart of Vinaconex ……………………………… 41 Age Structure Based on Job Position ………………………… 43 x 106 Positions Leaders Column Count N% Q71Downsizing of staffs strongly disagree Disagree Normal Agree strongly agree Total Managers Column Count N% Staffs Column Count N% 1.8% 1.6% 2.5% 15 54 2.7% 13.5% 48.6% 20 44 3.1% 15.6% 34.4% 10 26 67 6.2% 16.1% 41.6% 37 33.3% 58 45.3% 54 33.5% 111 100.0% 128 100.0% 161 100.0% Pearson Chi-Square Tests Positions Q71Downsizing of staffs Chi-square 9.344 Df Sig .314a Results are based on nonempty rows and columns in each innermost subtable a More than 20% of cells in this subtable have expected cell counts less than Chi-square results may be invalid * Custom Tables CTABLES /VLABELS VARIABLES=q72 A2.3 DISPLAY=LABEL /TABLE q72 BY A2.3 [C][COUNT F40.0, COLPCT.COUNT PCT40.1] /CATEGORIES VARIABLES=q72 ORDER=A KEY=VALUE EMPTY=INCLUDE TOTAL=YES POSITION=AFTER /CATEGORIES VARIABLES=A2.3 [1, 2, 3, OTHERNM] EMPTY=INCLUDE /SIGTEST TYPE=CHISQUARE ALPHA=0.05 INCLUDEMRSETS=YES CATEGORIES=SUBTOTALS 107 Positions Leaders Column Count N% Q72Opportunity to appropriately adjust key positions strongly disagree Disagree Normal Agree strongly agree Total Managers Column Count N% Staffs Column Count N% 9% 7.0% 2.5% 35 69 3.6% 31.5% 62.2% 32 66 3.9% 25.0% 51.6% 10 39 85 6.3% 24.4% 53.1% 1.8% 16 12.5% 22 13.8% 111 100.0% 128 100.0% 160 100.0% Pearson Chi-Square Tests Positions Q72Opportunity to appropriately adjust key positions Chi-square 21.724 Df Sig .005* Results are based on nonempty rows and columns in each innermost subtable * The Chi-square statistic is significant at the 05 level * Custom Tables CTABLES /VLABELS VARIABLES=q81 A2.3 DISPLAY=LABEL /TABLE q81 BY A2.3 [C][COUNT F40.0, COLPCT.COUNT PCT40.1] /CATEGORIES VARIABLES=q81 ORDER=A KEY=VALUE EMPTY=INCLUDE TOTAL=YES POSITION=AFTER /CATEGORIES VARIABLES=A2.3 [1, 2, 3, OTHERNM] EMPTY=INCLUDE /SIGTEST TYPE=CHISQUARE ALPHA=0.05 INCLUDEMRSETS=YES CATEGORIES=SUBTOTALS 108 Positions Leaders Column Count N% Q81- Leading issues of the restructuring is technological innovation strongly disagree Disagree Normal Agree strongly agree Total Managers Column Count N% Staffs Column Count N% 0.0% 8% 1.2% 13 32 6.3% 11.7% 28.8% 17 16 33 13.3% 12.5% 25.8% 22 34 45 13.7% 21.1% 28.0% 59 53.2% 61 47.7% 58 36.0% 111 100.0% 128 100.0% 161 100.0% Pearson Chi-Square Tests Positions Q81- Leading issues of the restructuring is technological innovation Chi-square 14.894 Df Sig .061a,b Results are based on nonempty rows and columns in each innermost subtable a More than 20% of cells in this subtable have expected cell counts less than Chi-square results may be invalid b The minimum expected cell count in this subtable is less than one Chi-square results may be invalid * Custom Tables CTABLES /VLABELS VARIABLES=q83 A2.3 DISPLAY=LABEL /TABLE q83 BY A2.3 [C][COUNT F40.0, COLPCT.COUNT PCT40.1] /CATEGORIES VARIABLES=q83 ORDER=A KEY=VALUE EMPTY=INCLUDE TOTAL=YES POSITION=AFTER /CATEGORIES VARIABLES=A2.3 [1, 2, 3, OTHERNM] EMPTY=INCLUDE /SIGTEST TYPE=CHISQUARE ALPHA=0.05 INCLUDEMRSETS=YES CATEGORIES=SUBTOTALS 109 Positions Leaders Column Count N% Q83Technological innovation should be carried out continuously Managers Column Count N% Staffs Column Count N% strongly disagree Disagree Normal Agree Disagree 0.0% 0.0% 0.0% 16 44 51 0.0% 14.4% 39.6% 45.9% 18 30 79 8% 14.1% 23.4% 61.7% 25 40 92 2.5% 15.5% 24.8% 57.1% Total 111 100.0% 128 100.0% 161 100.0% Pearson Chi-Square Tests Positions Q83Technological innovation should be carried out continuously Chi-square 13.226 Df Sig .040*,b Results are based on nonempty rows and columns in each innermost subtable * The Chi-square statistic is significant at the 05 level b More than 20% of cells in this subtable have expected cell counts less than Chi-square results may be invalid * Custom Tables CTABLES /VLABELS VARIABLES=q91 A2.3 DISPLAY=LABEL /TABLE q91 BY A2.3 [C][COUNT F40.0, COLPCT.COUNT PCT40.1] /CATEGORIES VARIABLES=q91 ORDER=A KEY=VALUE EMPTY=INCLUDE TOTAL=YES POSITION=AFTER /CATEGORIES VARIABLES=A2.3 [1, 2, 3, OTHERNM] EMPTY=INCLUDE /SIGTEST TYPE=CHISQUARE ALPHA=0.05 INCLUDEMRSETS=YES CATEGORIES=SUBTOTALS 110 Positions Leaders Column Count N% Q91- Reform corporate governance strongly disagree Disagree Normal Agree strongly agree Total Managers Column Count N% Staffs Column Count N% 0.0% 0.0% 0.0% 11 5.4% 9.9% 23 3.1% 18.0% 19 0.0% 11.8% 64 57.7% 31 24.2% 47 29.2% 30 27.0% 70 54.7% 95 59.0% 111 100.0% 128 100.0% 161 100.0% Pearson Chi-Square Tests Positions Q91- Reform corporate governance Chi-square 48.202 Df Sig .000*,b Results are based on nonempty rows and columns in each innermost subtable * The Chi-square statistic is significant at the 05 level b More than 20% of cells in this subtable have expected cell counts less than Chi-square results may be invalid * Custom Tables CTABLES /VLABELS VARIABLES=q102 A2.3 DISPLAY=LABEL /TABLE q102 BY A2.3 [C][COUNT F40.0, COLPCT.COUNT PCT40.1] /CATEGORIES VARIABLES=q102 ORDER=A KEY=VALUE EMPTY=INCLUDE TOTAL=YES POSITION=AFTER /CATEGORIES VARIABLES=A2.3 [1, 2, 3, OTHERNM] EMPTY=INCLUDE /SIGTEST TYPE=CHISQUARE ALPHA=0.05 INCLUDEMRSETS=YES CATEGORIES=SUBTOTALS 111 Positions Leaders Column Count N% Q102- Capital preservation requirements strongly disagree Disagree Normal Agree strongly agree Total Managers Column Count N% Staffs Column Count N% 0.0% 8% 6% 9% 7.2% 13 3.1% 10.2% 23 3.7% 14.3% 27 24.3% 51 39.8% 62 38.5% 75 67.6% 59 46.1% 69 42.9% 111 100.0% 128 100.0% 161 100.0% Pearson Chi-Square Tests Positions Q102- Capital preservation requirements Chi-square 19.672 Df Sig .012*,b,c Results are based on nonempty rows and columns in each innermost subtable * The Chi-square statistic is significant at the 05 level b More than 20% of cells in this subtable have expected cell counts less than Chi-square results may be invalid c The minimum expected cell count in this subtable is less than one Chi-square results may be invalid * Custom Tables CTABLES /VLABELS VARIABLES=q103 A2.3 DISPLAY=LABEL /TABLE q103 BY A2.3 [C][COUNT F40.0, COLPCT.COUNT PCT40.1] /CATEGORIES VARIABLES=q103 ORDER=A KEY=VALUE EMPTY=INCLUDE TOTAL=YES POSITION=AFTER /CATEGORIES VARIABLES=A2.3 [1, 2, 3, OTHERNM] EMPTY=INCLUDE /SIGTEST TYPE=CHISQUARE ALPHA=0.05 INCLUDEMRSETS=YES CATEGORIES=SUBTOTALS 112 Positions Leaders Q103- Policies of state on capital preservation requirements strongly disagree Disagree Normal Agree strongly agree Total Count Column N% Managers Column Count N% 0.0% 19 0.0% 8.1% 17.1% 83 111 Staffs Count Column N% 1.6% 0.0% 15 26 3.1% 11.7% 20.3% 21 36 1.9% 13.0% 22.4% 74.8% 81 63.3% 101 62.7% 100.0% 128 100.0% 161 100.0% Pearson Chi-Square Tests Positions Q103- Policies Chi-square of state on capital Df preservation Sig requirements 11.627 169a,b Results are based on nonempty rows and columns in each innermost subtable a More than 20% of cells in this subtable have expected cell counts less than Chi-square results may be invalid b The minimum expected cell count in this subtable is less than one Chi-square results may be invalid 113 Appendix G Point average - the age of the respondents/ Điểm trung bình theo độ tuổi * Custom Tables CTABLES /VLABELS VARIABLES=q12 a3 DISPLAY=LABEL /TABLE q12 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q12- Due to recession 4.19 a3 – Age 30-39 40-49 Mean Mean 4.28 4.82 >=50 Mean 4.77 * Custom Tables CTABLES /VLABELS VARIABLES=q22 a3 DISPLAY=LABEL /TABLE q22 [S][MEAN] BY a3 /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE a3 – Age 20-29 30-39 Mean Mean Q22- focus on their competitive products and 4.50 market 4.43 40-49 Mean >=50 Mean 4.72 4.72 * Custom Tables CTABLES /VLABELS VARIABLES=q31 a3 DISPLAY=LABEL /TABLE q31 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q31- Focus on core business 3.38 a3 – Age 30-39 40-49 Mean Mean 3.47 4.32 >=50 Mean 4.29 114 * Custom Tables CTABLES /VLABELS VARIABLES=q42 a3 DISPLAY=LABEL /TABLE q42 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q42- conflict of perception and/or benefits 3.50 a3 – Age 30-39 40-49 Mean Mean 3.60 3.97 >=50 Mean 4.22 * Custom Tables CTABLES /VLABELS VARIABLES=q51 a3 DISPLAY=LABEL /TABLE q51 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q51- The effect from incompatibility of business fields of dominant shareholder 4.04 a3 – Age 30-39 40-49 Mean Mean 3.85 4.72 >=50 Mean 4.33 * Custom Tables CTABLES /VLABELS VARIABLES=q53 a3 DISPLAY=LABEL /TABLE q53 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q53- The role of state shareholders - which owns more than 51% for enterprises 3.92 a3 – Age 30-39 40-49 Mean Mean 3.89 4.42 >=50 Mean 4.08 115 * Custom Tables CTABLES /VLABELS VARIABLES=q64 a3 DISPLAY=LABEL /TABLE q64 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q64- The qualification, knowledge and the profession of board members 4.19 a3 – Age 30-39 40-49 Mean Mean 4.17 4.70 >=50 Mean 4.57 * Custom Tables CTABLES /VLABELS VARIABLES=q71 a3 DISPLAY=LABEL /TABLE q71 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q71- Downsizing of staffs 3.42 a3 – Age 30-39 40-49 Mean Mean 3.89 4.12 >=50 Mean 4.23 * Custom Tables CTABLES /VLABELS VARIABLES=q81 a3 DISPLAY=LABEL /TABLE q81 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q81- Leading issues of the restructuring is technological innovation 3.54 a3 – Age 30-39 40-49 Mean Mean 3.69 4.50 >=50 Mean 4.09 116 * Custom Tables CTABLES /VLABELS VARIABLES=q83 a3 DISPLAY=LABEL /TABLE q83 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE a3 – Age 30-39 40-49 Mean Mean 20-29 Mean Q83- Technological innovation should be carried out continuously 4.38 4.40 >=50 Mean 4.29 4.41 * Custom Tables CTABLES /VLABELS VARIABLES=q91 a3 DISPLAY=LABEL /TABLE q91 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE a3 – Age 30-39 40-49 Mean Mean 20-29 Mean Q91- Reform corporate governance 4.19 4.26 >=50 Mean 4.20 4.39 * Custom Tables CTABLES /VLABELS VARIABLES=q102 a3 DISPLAY=LABEL /TABLE q102 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q102- Capital preservation requirements 3.62 a3 – Age 30-39 40-49 Mean Mean 3.96 4.55 >=50 Mean 4.52 117 * Custom Tables CTABLES /VLABELS VARIABLES=q103 a3 DISPLAY=LABEL /TABLE q103 [MEAN] BY a3 [C] /CATEGORIES VARIABLES=a3 ORDER=A KEY=VALUE EMPTY=INCLUDE 20-29 Mean Q103- Policies of state on capital preservation requirements 4.23 a3 – Age 30-39 40-49 Mean Mean 4.21 4.71 >=50 Mean 4.60 118 CURRICULUM VITAE Personal information Full name Academic degree Nguyen Phuc Huong Birth date/place 30/11/1975 Hai Duong province – Viet Nam - Construction Engineer - English Bachelor - Master of Economics (MBA) - High-level political theory – Administration Position Sex ×: M ;F Deputy director in charge Investment Department of Vinaconex Coporation and Director of hightech industrial Hoa Lac investment projects PMU of Vinaconex Civil Status: Parents: Father: Nguyen Phuc Loi - 64 yearS old, retired Mother: Trinh Thi Mua (deceased) Spouse's name: Nguyen Thi Huong – Teacher Children: Daughter: Nguyen Ha Phuong – was born 2001 Daughter: Nguyen Mai Phuong – was born 2007 Son : Nguyen Phuc Minh – was born February, 2013 VIETNAM CONSTRUCTION AND IMPORT - EXPORT Company address JOINT STOCK CORPORATION 34 Lang Ha Street, Dong Da district, Ha noi city, Vietnam Department/ division/ faculty Department of Investment (+84) Mobile Office tel (+84) 913347206 62849215 phone No phuchuongvinaconex1@yahoo.c Fax (+84)4 E-mail om 119 Educational Qualifications Time 1993-1998 2002 – 2005 2007-2009 2010-2012 03/2010 – Present University/Academic institutions Faculty/ Specialty Ha Noi Construction University (National University of Civil Engineering) Faculty of Civil and Industrial construction Ha Noi Open University Ha Noi University of Science Technology Regional Academy of Politics – Public Administration I (Ho Chi Minh National Academy of Public Administration Southern Luzon State University, Philippines (International Joint Graduate Programs at Thai Nguyen University) English Faculty School of Economics and Management High-level political theory – Administration Business Administration Kind of degree Engineer of Construction English Bachelor Master of Economic Political Bachelor DBA Student Experiences Start month and year End month and year Position Name of Company Country of Employment Engineer construction of Technical and Economical Department Construction jontstock company No.1 (VINACONEX-1) Vietnam 5/1998 12/2002 Vice chief of Technical and Economical Department Construction jontstock company No.1 (VINACONEX-1) Vietnam 12/2002 12/2004 Director of Enterprise No.11 (subsidiary of Vinaconex-1) Construction jontstock company No.1 (VINACONEX-1) Vietnam 1/2005 1/2007 Deputy CEO of Vinaconex1 Construction jontstock company No.1 (VINACONEX-1) Vietnam 1/2007 12/2009 120 Construction jontstock company No.1 (VINACONEX-1) Vietnam 12/2009 2/2012 Deputy Director of Investment Department Vinaconex Corporation Vietnam 2/2012 2/2013 Deputy Director in charge of Investment Department Vinaconex Corporation Vietnam 2/2013 7/2013 Deputy Director in charge of Investment Department and Director of PMU hightech industrial Hoa Lac projects of Vinaconex Vinaconex Corporation Vietnam 7/2013 4/2014 Director of Investment Department and Director of PMU high-tech industrial Hoa Lac projects of Vinaconex Vinaconex Corporation Vietnam 4/2014 Present Deputy CEO and Director of Project Management Vinaconex-1 I, the undersigned, certify that to the best of my knowledge and belief, this data correctly describes me, my qualifications and my experience Date…………………………Nguyen Phuc Huong ……………………………… ... of the senior managers in VINACONEX, the researcher has recognized that research on the topic CORPORATE RESTRUCTURING IN STATE- OWNED CONSTRUCTION SECTOR IN VIETNAM: THE CASE OF VINACONEX CORPORATION ... SHEET The Dissertation of NGUYEN PHUC HUONG Entitled CORPORATE RESTRUCTURING IN STATE- OWNED CONSTRUCTION SECTOR IN VIET NAM: THE CASE OF VINACONEX CORPORATION Submitted in Partial Fulfillment of the. .. affects the process of corporate restructuring at Vinaconex Corporation 8 3.) To examine the effects on the ownership structure on the corporate restructuring of the construction sector in the SOEs