Deputy Prime Minister Le Minh Khai signed a decision approving the "Plan to restructure the parent company - Vietnam Chemical Group for the period 2022 - 2025 and the Project to restructure Vietnam Chemical Group to 2025".
The goal is to restructure the Vietnam Chemical Group (Vinachem) to ensure a reasonable structure, promote its leading role in the chemical industry, exploit its potential and strengths to the fullest, focus on highly effective industry groups; research and gradually invest, develop and effectively produce a number of chemical products with modern technology, environmentally friendly, suitable for social development needs.
Strengthening the parent company - Vietnam Chemical Group to ensure sufficient resources to develop large-scale and important projects in the chemical industry, operating and orienting the development of subsidiaries according to the Group's development strategy; effective production and business activities, contributing to ensuring some balances in the national economy, contributing to ensuring the strategy of food safety and security in the new situation.
After restructuring, Vietnam Chemical Group has sufficient capacity and financial resources to operate production and business effectively, stably and sustainably, associated with environmental protection; innovate organization, business methods, management and operation mechanisms, improve technical and technological capacity and human resources in both quantity and quality, rationally organize the market and well manage business operations;
Investing in key projects to ensure the Group's growth rate; restructuring investment capital in subsidiaries, creating enterprises in the Group with large equity capital, financial potential to ensure the improvement of investment capital efficiency, ensuring major balances of the state in the fields of fertilizers and chemicals, meeting the development needs of the economy; better serving people and enterprises in the national economy; preserving and developing state capital invested in enterprises.
Vietnam Chemical Group strives to achieve an average total revenue growth rate of 7.4%/year.
Resolutely handle subsidiaries, affiliated companies, investment projects that are behind schedule, operating at a loss, and ineffective according to market mechanisms and legal regulations to minimize losses for the state, Vietnam Chemical Group, and society; in which, focus on promptly and thoroughly handling disputes over EPC contracts to implement investment projects.
Strive to achieve an average growth rate of 7.4% per year in total revenue of the Group; strive to achieve a total payment to the state budget in the period of 2021 - 2025 of 10,800 billion VND.
According to the orientation, Vinachem focuses on the main business lines and sectors:
Production and trading of fertilizers and pesticides; mining and processing of minerals as raw materials for fertilizer and chemical production; rubber processing industry; production and trading of basic chemicals, consumer chemicals, pharmaceutical chemicals, petrochemicals, electrochemistry (production of batteries and accumulators).
Vinachem has business lines as prescribed in the Government's Decree on the Charter of organization and operation of Vinachem and other business lines as approved by competent authorities.
By 2025, most Vinachem member enterprises will be effectively operating joint stock companies.
According to the arrangement plan, continue to maintain the Parent Company - Vietnam Chemical Group as a single-member limited liability company with 100% state-owned charter capital for the period 2022 - 2025.
Accounting units dependent on the parent company - Vietnam Chemical Group: Maintain the current 2 accounting units, including: Chemical Science and Technology Information Center; Chemical Trade and Service Center.
Maintain existing Vinachem units including: College of Chemical Industry; Vietnam Institute of Industrial Chemistry.
By 2025, most member enterprises will be joint stock companies with a streamlined organizational model, with a healthy financial situation, efficient operations, modern technology and production techniques equivalent to those of countries in the region, fully meeting international standards on corporate governance; forming a professional, highly qualified management team with good moral qualities.
Consolidate and develop a number of large-scale, effectively operating member enterprises with the ability to compete regionally and internationally in Vinachem's main business areas .
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