BINH DUONG WATER - ENVIRONMENT CORPORATION - JSC (BIWASE)

On February 3, 2026, Binh Duong Water - Environment Corporation - Joint Stock Company (BIWASE) held a meeting with investors to present a detailed report on its business performance in 2025 and share its development strategy for 2026 at The Reverie Saigon (22–36 Nguyen Hue Street, Sai Gon Ward, Ho Chi Minh City).

Over the past year, BIWASE has continued to maintain strong and stable growth thanks to the effective management of water supply and waste treatment projects, while also expanding its service coverage in key industrial zones. Mr. Nguyen Van Thien, Chairman of the Board of Directors, presented positive results in terms of commercial water output and efficiency from recycling plants, reaffirming the company’s pioneering position in the environmental infrastructure sector.

Entering 2026, BIWASE will focus on modernizing technology, accelerating inter-provincial clean water projects, and optimizing financial resources to support its expansion objectives.

The meeting served as an important opportunity for BIWASE to update investors on the progress of key projects and to directly address their concerns regarding the company’s sustainable growth potential in the coming period.

In 2025, BIWASE guarantees "double-digit" growth: This was the affirmation made by Chairman Nguyen Van Thien at the investor meeting introducing the 2025 economic outlook. BIWASE sets a plan for total revenue to reach at least 4,760 billion VND, with a growth range of 8.5% to 12%. The after-tax profit of the parent company and its subsidiaries is projected to be at least 640 billion VND.


To achieve the above goals, BIWASE estimates a total water supply capacity of 979,000 m3/day, with the company-wide water loss rate maintained at or below 4.8%, and commercial water volume reaching at least 220 million m3. New connections are expected to increase by at least 20,000 customers. Chairman Nguyen Van Thien stated: “As the primary provider of clean water and environmental sanitation in Binh Duong province".


For many years, BIWASE has been praised by the Government, central ministries, and Binh Duong province as a national role model. In 2025, Binh Duong province aims to attract 2 billion USD in FDI and achieve "double-digit" GRDP growth; the population growth rate is expected to reach 1.12 times compared to the 2021-2025 period, the highest in the country. This drives growth in production and clean water consumption, ensuring that BIWASE achieves corresponding "double-digit" growth and development.

On November 28, 2024, BIWASE Corporation Leaders continued to receive and work with representatives from investment funds including Rong Viet, Dragon Capital, Vinacapital, Fides, Techcomcapital, Worldhaven Capital, Cathay Life, and others, who came to seek investment opportunities and partner with BIWASE. Mr. Nguyen Van Thien - Chairman of the Board of Directors of BIWASE Corporation, provided an overview of the main business sectors, the corporation's recent performance, and major ongoing projects. This highlighted that BIWASE's core strength lies in its management efficiency.


Currently, many international credit institutions wish to finance the projects that BIWASE is implementing. However, due to the specific nature of the water supply, sewerage, and environmental industry which requires large capital investment and has a slow depreciation period, BIWASE is seeking partners to accompany the company under the principle of "Loyalty and Mutual Benefit" to ensure efficiency. Following the meeting, representatives of the investment funds expressed enthusiasm and a desire to partner with BIWASE, citing their confidence in the company's stability and stock market value.

Mr. Nguyen Van Thien - Chairman of the Board of Directors of BIWASE Corporation, stated that due to the global economic recession, BIWASE’s business results in the first 6 months of the year grew by over 3%, primarily in the clean water business sector. Since BIWASE's dividends are relatively high and stable, investors are closely monitoring the results of M&A activities and the expansion of business territories.

Overview of the meeting and information session with investors at BIWASE Corporation. 

The waste treatment sector, including municipal and industrial waste, accounts for 30% of revenue and has shown a downward trend due to a decline in the industrial sector and consumers tightening their spending.

In contrast, the medical waste market is gradually expanding into many provinces as large hospitals cut back on incinerator operations (due to high costs, depreciation, and the burden of personnel and technical machinery) in localities that lack treatment plants. Currently, the economy is on a recovery path. By the end of the year, business results are expected to be higher. 

Investors followed BIWASE's growth and development charts, which are publicly listed at the Company's office.

For many years, BIWASE's dividends have yielded high returns (13%) and remained stable. Investors are very interested in learning about and questioning the investment strategy and market expansion to continue participating and contributing capital, despite knowing that investments in the water and environment industry require time to stabilize before generating profit. For instance, after 3 years of acquisition, Gia Tan Water Joint Stock Company saw revenue increase by 2.9% year-on-year while continuing to invest in network development.

BIWASE has completed M&A in Long An and Quang Binh and has begun operating and doubling the capacity of water supply plants alongside developing distribution networks, which requires significant investment capital. Although these projects utilize substantial resources, the time to reach profitability will be shortened thanks to their potential being tied to local socio-economic development needs and investment attraction. Investors raised a question: "Currently, Ho Chi Minh City and other provinces are struggling with municipal waste. Does BIWASE intend to acquire or expand its investment there?" 

Investors continued to exchange and seek information after the meeting ended

Mr. Nguyen Van Thien - Chairman of the Board of Directors of BIWASE Corporation, replied: Regarding waste treatment plants, we do not acquire them because equipment quality degrades after two years of operation; therefore, we only invest in new ones. A waste treatment plant is very different from building a landfill. For the sake of the environment and life, BIWASE is ready to share its experience and treatment technology if local authorities request it.