"Vinachem is strongly committed to achieving double-digit growth in the 2026-2030 period. This is not only an economic goal but also Vinachem's responsibility in maintaining its role as the leader of Vietnam's chemical industry," Mr. Phung Quang Hiep - Chairman of the Board of Members of Vietnam Chemical Group (Vinachem) affirmed at the recent Government Standing Committee Conference working with state-owned enterprises.

To realize this goal, Vinachem has proposed a series of strategic solutions. First, Vinachem will resolutely implement the Restructuring Project and the Development Project 2021-2025 approved by the Government, ensuring an 8% growth rate in 2025, creating an important stepping stone for the 2026-2030 period to achieve double-digit growth.

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Expanding production, researching and developing new products, and applying modern technology are also top priorities. In particular, Vinachem will continue to develop chemical products for the semiconductor industry and research technical rubber lines that meet the standards for the North-South high-speed railway system.

In addition, Vinachem focuses on improving corporate governance capacity towards streamlining, modernizing production processes and expanding international cooperation to join the global value chain. Other important solutions include boosting exports, developing the domestic market and expanding investment in the high value-added chemical sector.

In addition to synchronously implementing management solutions, Vinachem is implementing a strategy to participate in the leading production chain in Vietnam, while expanding exports. With a multi-faceted development strategy in many fields, Vinachem products are gradually dominating potential markets, highly appreciated by domestic and international partners for both quality and market share.

To achieve the above goals, one of Vinachem's recommendations is that the Government should soon have a plan to support the relocation of 6 factories in Bien Hoa 1 Industrial Park (Dong Nai province) according to regulations.

According to the group, if the relocation must be completed in 2025 without a specific plan, the group's member units will face serious difficulties, greatly affecting production and business efficiency and jobs for thousands of workers.

Vinachem also proposed to continue imposing trade defense taxes on fertilizers and tires. After the trade defense taxes on DAP and MAP fertilizers expire in August 2022, imports will flood in strongly, greatly affecting domestic fertilizer production and trading, negatively affecting the proactive supply of fertilizers for the country's agricultural sector.

Along with that, Vinachem also hopes that the Government will soon submit to the National Assembly for approval the Law amending Law No. 69/2014/QH13 on management and use of State capital invested in production and business at enterprises to create an important legal corridor to help unlock available resources of State-owned enterprises to continue to promote stronger efficiency, contributing to the results and growth and development goals of the whole country.

Mr. Hiep affirmed that Vinachem is committed to closely cooperating with domestic and foreign enterprises to promote effective production and business, thereby successfully implementing the campaign "Vietnamese people prioritize using Vietnamese goods".