Recently, Lao Dong Newspaper has published many articles reflecting violations and inadequacies regarding Dak Lak Water Supply Joint Stock Company (Dakwaco) using many water supply infrastructure projects invested free of charge by the State.
Regarding this incident, Dak Lak Provincial People's Committee has requested relevant departments and agencies to get involved and handle it thoroughly to avoid loss of state assets and ensure the rights of the people.
On January 24, in an exchange with Lao Dong Newspaper, Mr. Truong Cong Thai - Vice Chairman of Dak Lak Provincial People's Committee said that the Provincial People's Committee has directed the Provincial Police, the Provincial Land Development Center, the Buon Ma Thuot Construction Investment Project Management Board, Urban and Environment Joint Stock Company... to coordinate with Dakwaco (the operating unit) to review and complete dossiers and procedures for transferring the management and use of clean water supply infrastructure assets.
This is to ensure strict legality, improve management efficiency, publicity, and transparency in state capital investment and production and business activities of enterprises. The entire process must be completed before March 30, 2026.
The Provincial People's Committee assigned the Department of Construction to preside over and coordinate with the Department of Finance and related units to guide investors to implement the handover and management of clean water supply infrastructure assets invested by the State budget for Dakwaco in accordance with legal regulations.
The Department of Finance is assigned to preside over and coordinate in guiding Dakwaco to carry out procedures for recording state capital increases at enterprises. Dakwaco is responsible for accounting for asset increases and reporting to competent authorities to carry out procedures for recording capital increases according to regulations.
According to research, increasing the State capital participation in production and business activities at Dakwaco will help Dak Lak province avoid losing assets and water pipeline infrastructure invested in for many years.
In particular, if the ownership ratio is increased to 51% of shares (instead of 36% as at present), the Provincial People's Committee will have the right to veto important decisions of enterprises. In which, there is a water price structure.
Over the past time, Dakwaco has still used free water pipeline infrastructure invested by the State for a long time. In 2025, the enterprise did not eliminate the 8.3% rate in water prices even though it no longer buys water from partners. This makes people in Buon Ma Thuot City (old) have to use water at high prices.
Regarding responsibility and handling directions for existing problems at Dakwaco, Mr. Truong Cong Thai said that in the immediate future, the province requests relevant units to implement the increase in state capital in enterprises to avoid loss of public assets.
Regarding responsibilities and subsequent handling measures, departments and branches will continue to comprehensively assess and clarify each content to have a complete conclusion. From there, the Provincial People's Committee will consider and decide on appropriate handling directions," Mr. Thai said.
Previously, Lao Dong Newspaper reported that in the period 2006–2018, Dak Lak Water Supply and Construction Investment Co., Ltd. was a state-owned enterprise, under the Dak Lak Provincial People's Committee, operating stably in the field of water supply.
By 2019, the equitized enterprise changed its name to Dakwaco. According to the equitization plan, the State holds 36% of shares, the private sector owns 58.21% and 5.63% belongs to employees and trade unions.
From 2013 to 2019, the People's Committee of Buon Ma Thuot city (old) handed over to Dakwaco the management of more than 20 water supply infrastructure projects with a total investment of more than 26 billion VND. These projects were completed before equitization took place. From 2020 to now, the city has continued to invest in more than 10 other water supply projects.
However, as of June 2025, all of these projects have not yet been included in the equitization plan. The value of state assets is not included in enterprise capital, causing the state share ratio to remain unchanged at 36%, showing signs of causing loss of public investment capital...
