In August, 1975, the Directorate for Transport decided to establish the Southern Waterways Administration (formerly the precursor of the Southern Waterborne Transport Corporation) on the basis of taking over the Marine Hydropower Office to carry out governmental administration and management of affiliated units. Since then, SOWATCO has developed through 3 main stages.
From 1975 to August 1996:
On 09/08/1975, in accordance with Decision No. 32-QD / TC, the Directorate for Transport established the Southern Waterways Administration. Subsequently, the Southern Waterborne Transport Joint Stock Corporation has developed under various names such as the Inland Waterway Division (August 06, 1976), the Mekong River Transport Enterprise (January 30, 1979), Water Transportation Enterprise No. 2 (December 15, 1984), Waterway Transport Corporation II (February 28, 1992) and Waterway Transport Company II (September 14, 1993).
From 1996 to June 2003:
In implementation of Prime Minister's Decision No.90 / TTg of March 7, 1994 on the establishment of State enterprises with adequate capital, capabilities, assets and means to become vigorous companies, the Ministry of Transport issued the Decision No. 2124 / QD-TCCB-LD dated 13/8/1996 on the establishment of the Southern Waterborne Transport Corporation operating under the model of Corporation 90 with the scale of corporational organs, 5 independent cost accounting member companies and 5 dependent economic accounting units.
From June 2003 to present:
On May 26, 2003, according to the Decision No. 94/2003 / QD-TTg, the Prime Minister approved to transform the Southern Waterborne Transport Corporation from the corporational model into the organization and operation of Parent company - Subsidiary company, at the time of establishment of the corporation including Parent company, 5 subsidiaries (joint stock companies) and 3 joint-venture companies with foreign partners.
On June 26, 2003, the Ministry of Transportation issued Decision No. 1863 / QD-BGTVT establishing the parent company - Southern Waterborne Transport Corporation (SOWATCO). The corporation consists of the holding company, 5 subsidiaries (which are joint stock companies), 3 joint ventures with foreign partners and 3 associated companies.
On July 4th, 2008, in the Decision No. 854 / QD-TTg, Southern Waterborne Transport Corporation was approved by the Prime Minister for equitization plan.
On June 9, 2009, Southern Waterborne Corporation was officially transformed into the Southern Waterborne Transport Joint Stock Corporation. The Southern Waterborne Transport Corporation comprises three subsidiaries (joint stock companies), two joint ventures with foreign partners and two associate companies.