On the morning of January 6 in Hanoi, Vietnam Chemical Group (Vinachem) held a conference to summarize the work in 2024 and deploy tasks in 2025.
The conference was attended by: Chairman of the State Capital Management Committee at Enterprises Nguyen Hoang Anh; along with representatives of the Government Office, Ministry of Public Security, Ministry of Industry and Trade, Vietnam General Confederation of Labor, Ministry of Labor, Invalids and Social Affairs; State Audit, representatives of the Departments and Divisions of the Ministry of Industry and Trade, the State Capital Management Committee at Enterprises, etc.
2024 marks 3 consecutive years of peak revenue
In 2024, Vietnamese enterprises will operate in a context of many difficulties and challenges such as military conflicts and increasing political instability, causing the USD exchange rate and gold prices to increase sharply; crude oil prices, transportation services, etc. will fluctuate strongly, making it difficult to predict the ability and time of recovery; natural disasters, storms, and floods will cause damage to the national economy, and many businesses will be severely affected.
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| Conference overview |
In that difficult context, Vinachem's enterprises and the parent company have made efforts to unite and strive to complete the tasks assigned by the Ministry of Industry and Trade.
Specifically, Vinachem's total consolidated revenue is estimated at VND57,909 billion, up 3% compared to the plan, up 1% compared to 2023, of which the parent company's revenue is estimated at VND1,450 billion, equivalent to 186% of the plan; Vinachem's total consolidated profit is estimated at VND2,872 billion, completing 118% of the plan. The parent company's profit alone is estimated at VND600 billion, completing 125% of the plan.
Along with that, the industrial production value calculated at actual prices in 2024 is estimated at VND 54,680 billion, an increase of 3% compared to the annual plan and an increase of 10% compared to the implementation in 2023.
The lives and jobs of 18,000 employees have been ensured with the average salary of the whole Group estimated at 14,890,000 VND/person/month, an increase of 10% over the same period in 2023; the state budget contribution is estimated at 2,116 billion VND, exceeding the plan by 24%.
In particular, the total import-export value of the whole Group in 2024 reached 735 million USD, an increase of 11% over the same period last year.
In addition, the construction investment value of the entire Group also reached 93% of the annual plan, in which a number of projects were implemented and completed ahead of schedule, such as: The Investment Project to expand the Radial Truck Tire Factory of Da Nang Rubber Joint Stock Company was completed and put into production 6 months ahead of schedule; The Investment Project to produce water source disinfectants with a capacity of 9,000 tons/year of Viet Tri Chemical Joint Stock Company was completed 2 months ahead of the approved project schedule.
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| Mr. Phung Quang Hiep - Chairman of Vinachem Board of Directors, Mr. Nguyen Hoang Anh - Chairman of State Capital Management Committee at Enterprises, Mr. Nguyen Phu Cuong - former Chairman of Vinachem Board of Directors at the conference (from left to right) |
According to Deputy General Director in charge of Vinachem Nguyen Huu Tu: The above results show that Vinachem is making strong progress. Three consecutive years from 2022 to 2024 reaching the peak revenue in the history of the formation and development of the group has demonstrated the tireless efforts of the entire staff, workers and employees of the whole group in the context of many difficulties and challenges.
Enhance social responsibility
In 2024, the group and its member units had many practical activities demonstrating the group's role and responsibility in social activities, typically supporting localities affected by storm No. 3 with an estimated value of over 10 billion VND and nearly 20 tons of water treatment chemicals Chloramine B, detergents, batteries in the provinces: Lao Cai, Yen Bai, Hai Phong, Phu Tho, Bac Giang.
Most recently, in December 2024, Vinachem donated 5 gratitude houses to Chu Se district, Gia Lai province, contributing to eliminating temporary and dilapidated houses in the area; participating in sponsoring the 11th national ceremony to honor outstanding ethnic minority students in 2024...
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| Conference delegates |
In addition to striving to achieve the highest production and business performance targets, Vinachem has focused on effectively implementing a number of important tasks for the Group's development such as: Approving the Group's 5-year production, business and investment development plan for the period 2021-2025 by the Prime Minister; perfecting management positions such as Chairman of the Board of Members, Member of the Board of Members, General Director, Deputy General Director of the Group; issuing the Plan to implement the planning for exploration, exploitation, processing and use of apatite minerals in the period 2021-2030, with a vision to 2050 of Vinachem.
In particular, Vinachem has received approval from the Politburo to continue implementing the Potassium Salt Mining and Processing Project in Laos.
Actively contribute opinions to competent agencies so that the National Assembly can consider and approve amendments and supplements to Tax Law No. 71/2014/QH13 to include fertilizers in the 5% VAT tax...
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| Units receiving the Emulation Flag of the State Capital Management Committee at Enterprises |
Actively implement bilateral cooperation programs on the international level, promote trade and international cooperation through official working programs of the Government. Sign Memorandums of Understanding with major commercial corporations in the world to expand market share, bringing the Vinachem brand to the continental and world markets.
Continue green production, sustainable development
Talking about the plans and goals for 2025, the leader of the Chemical Group affirmed that in the new period, Vinachem will focus on scientific and technological research, aiming for sustainable development, being friendly to the environment, focusing on green production and green growth, producing high-quality fertilizers, capable of providing nutrients according to the needs of crops, with the goal of contributing to ensuring national food security.
Along with that, implementing a green transformation program throughout the group to reduce greenhouse gas emissions, save energy and protect the environment.
At the same time, develop industry groups and product lines that are suitable for the trend of the times, especially product groups serving the semiconductor industry and products applying AI technology.
Along with the development of science and technology, the group also identifies the task of enhancing international trade and cooperation in many fields as a key task in the future to boost the export of key product groups in the fields of fertilizers, tires, and detergents of Vinachem, clearly demonstrating the group's pivotal role in the country's chemical industry, bringing Vietnamese brands to international level in the era of national development.
Entering 2025, Vinachem aims to transform strongly. Vinachem is committed to comprehensive restructuring, applying advanced technology, developing core product groups closely linked to the digital transformation trend. At the same time, Vinachem will strengthen internal linkages, expand export markets and continue to be a leader in environmental protection through emission reduction and sustainable waste treatment.
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| Chairman of the State Capital Management Committee at Enterprises Nguyen Hoang Anh directed member units to strictly implement the instructions of superior leaders and solutions to complete the plan set out in 2025. |
Speaking at the conference, Mr. Nguyen Hoang Anh affirmed: Through the direction and monitoring of production activities and listening to reports, speeches and discussions at the conference, it can be seen that in 2024, the Group has closely forecasted the situation, on that basis, promptly and resolutely directed the development and implementation of quick handling plans, closely following the direction of the Government, the Prime Minister, the State Capital Management Committee at Enterprises, the Party Committee of the Central Enterprises Bloc, the Ministry of Industry and Trade and ministries/branches in synchronously implementing solutions to overcome difficulties and challenges, striving to best complete the set production and business plans and a number of important tasks to achieve positive results.
In particular, in 2024, the group has completed paying off all debts to the Ministry of Finance from China's Eximbank, including principal, interest, and management fees of 340 million USD for the Ninh Binh Nitrogen Project loan, and paying off all principal of the loan at VDB Development Bank for the Ninh Binh Nitrogen Project.
“This is a very positive result, reflecting the great efforts of the Group, especially the Group's leaders over the past time, ” Mr. Nguyen Hoang Anh affirmed and emphasized that the results achieved by the Group in 2024 have made an important contribution to the overall achievements of 19 corporations and general companies under the Committee with revenue growth of 5.5% and profit growth of 66% compared to the plan set for 2023.
The Chairman of the State Capital Management Committee at the enterprise acknowledged, highly appreciated and commended the efforts of the Leaders and all staff of Vinachem, and also requested Vinachem in 2025 to focus on and implement a number of contents to complete the production, business and investment development plan for 2025 at the highest level. In particular, actively complete the plan and implement the plan to handle the Mining and Processing Project of Rock Salt in Nongbok District, Khammouane Province, Lao PDR immediately after being approved by competent authorities...
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| Mr. Phung Quang Hiep (middle) and Mr. Nguyen Huu Tu representing Vinachem received the Certificate of recognition of agencies and enterprises meeting the standards of "Safety in security and order in 2023" from the Ministry of Public Security. |
On behalf of the Party Committee and the Leadership of the Vietnam Chemical Group, Chairman of the Board of Directors of Vianachem Phung Quang Hiep has seriously and fully received and grasped the instructions of the Leaders of the State Capital Management Committee at the enterprise and affirmed that he will include them in the action program, work plan and direct units in the whole group to implement them synchronously and effectively.
“In 2025, the Group will strive to mobilize resources, promote the achieved results, continue to focus on implementing the Group's political tasks with the goal of stabilizing production and sustainable development associated with green transformation, digital transformation and environmental protection" - Mr. Hiep affirmed.
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| Deputy General Director in charge of Vinachem Nguyen Huu Tu spoke to receive instructions from superiors. |
At the conference, a number of Vinachem member units also shared results and experiences in implementing solutions to complete the 2024 production and business plan, and discussed solutions and goals set for 2025.
On this occasion, Vinachem launched a production and business competition in 2025 with the following targets: Industrial production value (at actual prices) in 2025 is 54,941 billion VND, equal to 101% of the estimated implementation in 2024; combined revenue is 57,938 billion VND, equal to the estimated implementation in 2024; combined profit is 2,729 billion VND... The Group calls on all cadres, employees and workers to join hands, unite and strive to achieve the set production and business targets.
| With a spirit of solidarity and high determination, Vinachem believes in its ability to maintain growth momentum, affirm its leading position in the chemical industry and make practical contributions to the country's economic development. |
Source: https://congthuong.vn/vinachem-dat-loi-nhuan-2872-ty-dong-trong-nam-2024-368140.html
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