According to the Decision No. 3023/QĐ-BCT made by Ministry of Industry and Trade, Power Generation Corporation 1 (GENCO 1) was established and officially put into operation as from January 1, 2013.

Being a unit of Vietnam Electricity (EVN) with 100% of its charter capital owned by EVN, EVNGENCO1's duties are to organize power production in safe, stable and effective way, approach commercial operation in the competitive generation market; invest in new power source projects to make sure energy security for socio-economic development, people's life and industrialization - modernization process of the country.

EVNGENCO1's members include 5 project management boards, 5 dependent accounting companies and 5 joint stock companies. Total installed capacity of EVNGENCO1's  power plants is 4.200 MW, equivalent to an annual electric output of 15-16 billion kWh. EVNGENCO1 is investing in construction of Nghi Son 1 Thermal Power (600MW), Duyen Hai 1 (1200 MW), Duyen Hai 3 (1200 MW), Duyen Hai 3 extension (600 MW). These projects will be put into operation from 2013 to 2016.

EVNGENCO1’s establishment is an important landmark in development history of Vietnam Electricity Sector, showing a stronger growth of not only the sector but also EVNGENCO1's members. Magnanimous and glorious tradition of previous electric staff  during over the past half century has been converged and crystallized into such achievements. EVNGENCO1 now takes its responsibility to further promote such tradition  in the new period.

EVNGENCO1's feel really honor to take such great responsibility, in spite of big difficulties and challenges ahead. EVNGENCO1 was set up when the country’s economy got difficulty and bad crisis of finance - credit market. Capital mobilization from local and foreign banks and credit organizations gets a lot of barriers, whereas EVNGENCO1's investment projects need a considerable fund. Electrical tariff is insufficient to make compensation for costs. Although the competitive generation market has already been set up, it has been still unknown yet. Its operation mechanism has not really been smooth and thorough; information technology infrastructure and manpower source have been inadequate, also. Some of EVNGENCO1's units, projects have got strict objective troubles, even force majeure which cause hard obstacles for EVNGENCO1 to figure out the strategic orientations, for example, Song Tranh Hydropower, Uong Bi Thermal Power Extension, EVN International, etc.

In order to successfully do tasks of making EVNGENCO1 develop rapidly, stably and sustainably, EVNGENCO1's leaders appeal and ask all staff and employees of the whole corporation for: solidarity,, high determination, overcoming difficulties to complete all duties in good manner. Along with stabilization of new structure, receipt of member units and projects from EVN, EVNGENCO1 focuses on instruction in power production with safety, stability and in economic way, at the same time speeds up progress of investment projects to put them into commercial operation as soon as possible. The corporation will also concentrate on rechecking and renewing internal administration procedure in order to enhance management effectiveness and improve staff's life in the whole corporation.

The EVNGENCO1's active slogan is Solidarity, responsibility, renovation and creativeness!

Leaders of the corporation do believe that with such spirit and will as mentioned above, EVNGENCO1 will keep on upholding the sector's honorable traditions, successfully complete the assigned tasks to turn EVNGENCO1 into a powerful corporation which can obtain a good brand name, humanitarian and a high responsibility for staff, for surrounding environment and for social community./.

                                                                                   NGUYEN LOAN

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