From a difficult and loss-making business, by 2023, the Vietnam Chemical Group (Vinachem) had a profit of nearly 3,300 billion VND. However, Prime Minister Pham Minh Chinh requested that Vinachem continue to restructure its projects.
On the afternoon of August 22, Prime Minister Pham Minh Chinh attended the ceremony to celebrate the 55th anniversary of the Traditional Day of the Vietnamese Chemical Industry (August 19, 1969 - August 19, 2024) organized by the Vietnam Chemical Group (Vinachem) in Hanoi .
Speaking at the ceremony, the Prime Minister emphasized that the chemical industry is one of the basic economic and technical sectors, playing an important role in the construction and socio-economic development of the country.
Since the beginning of its term, under the close direction of the Government, the Prime Minister and the Steering Committee for handling the shortcomings and weaknesses of a number of projects and enterprises that are behind schedule in the industry and trade sector, Vinachem has gradually implemented restructuring and resolved outstanding issues related to 4 projects and enterprises that are behind schedule and inefficient in fertilizer production (including Ha Bac Fertilizer, Ninh Binh Fertilizer, DAP No. 1, DAP No. 2 - Vinachem) out of a total of 12 weak projects. Currently, these enterprises have begun to make profits and repay loans on time to the funding banks.
From a loss-making situation, Vinachem has now transformed itself to achieve profitable business results. In 2023, the group's total revenue exceeded VND 57,000 billion, profit reached nearly VND 3,300 billion, creating jobs for about 20,000 workers. The group includes 21 member units, 11 affiliated companies, 4 public service units and dependent accounting units. In the first half of 2024, the total revenue of the entire group is estimated to reach nearly VND 31,000 billion, with a profit of about VND 870 billion and an average salary of over VND 13 million/person/month.
Despite achieving positive results, the Prime Minister still requested Vinachem to continue promoting governance restructuring, maintaining a healthy financial structure and expanding cooperation with reputable banks, in order to ensure investment capital needs for the group and its member units, as well as attracting more foreign direct investment.
VAN PHUC
Source: https://www.sggp.org.vn/thu-tuong-yeu-cau-vinachem-tiep-tuc-tai-co-cau-cac-du-an-yeu-kem-post755264.html
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