On March 31st, Vietnam Report officially announced the Top 5 M&E Contractors for the year 2023. Continuing its strong performance from previous years, Searefico takes pride in being honored in this prestigious category.
The ranking is the result of independent research conducted by Vietnam Report, built upon scientific and objective principles, using data collected until December 31st, 2022 in the construction and mechanical-electrical sectors.
Some excerpts from Vietnam Report’s report:
After two years of stagnation due to the pandemic, the construction industry entered 2022 with high hopes for recovery. At the beginning of 2022, many construction companies experienced significant growth in contract values (backlog) and saw promising demand for civil construction following the period of social distancing. However, subsequent headwinds adversely affected the financial health of businesses in the industry.
The government implemented a series of measures to cleanse the bond market and tighten credit for real estate, resulting in a frozen liquidity state in the real estate market. As part of the Real Estate-Construction-Building Materials ecosystem, when investors’ capital flows become congested, payment delays from investors accumulate for contractors. Meanwhile, contractors are still striving to overcome the increasingly challenging price storms.
Looking back at the journey traveled, it can be seen that disruptions like COVID-19, credit tightening, new production technologies, or digitalization processes, new materials technologies… have transformed the entire construction industry and each company, making them stronger and more resilient. As an industry often in a passive position due to dependence on cash flow, supply chain, profits… from partners, construction companies nowadays exhibit high proactivity to self-rescue and affirm their reputation with investors, customers, and stakeholders.
With the spirit of “unyielding amidst change,” the Searefico team, with its genuine values and the power of ONE SEAREFICO, has united to overcome fierce waves, conquer new achievements, and being listed as one of the Top 5 M&E Contractors in 2023 is one of the first fruits of their efforts.