On February 27 at the Government Headquarters, a Government Standing Committee Conference was held to work with State-owned enterprises.
At the conference, Mr. Phung Quang Hiep - Chairman of the Board of Members (BOD) of the Vietnam Chemical Group (Vinachem) - said that in 2025, the group will build indicators close to the Government's growth target of 8%, creating a sustainable premise for the following years.
The Chemical Group has built 6 groups of solutions to implement:
Firstly, resolutely implement the Restructuring Project and the development project for the period 2021-2025 approved by the Government to create an important stepping stone for double-digit growth in the period 2026-2030.
On that basis, the group has established working groups to work with each company to achieve the growth rate of 8% this year.
Second, resolutely implement Decision No. 1468/QD-TTg of the Prime Minister approving the "Project to handle the shortcomings and weaknesses of a number of projects and enterprises behind schedule and ineffective in the industrial and commercial sector".
In 2024, the Group has completed paying off all debts to the Ministry of Finance of Eximbank China, including principal, interest, and management fees of 340 million USD for the Dam Ninh Binh project loan, and repayed all principal of the loan at the Development Bank (VDB) for the Dam Ninh Binh project.
Third, maintain and maintain the leading role in chemical industrial production, increase resource accumulation according to the general strategy of the group to develop new products, and maximize existing equipment.
The Group especially develops a group of products serving the semiconductor industry, researching and developing technical rubber products to ensure the quality of supply for high-speed railways.
Fourth, develop a group with modern management technology, high specialization, closely linked with production and business, science and technology, research, training, application of modern technology, digital economy and digital transformation.
Fifth, participate in the leading production chain in Vietnam and expand to the world. The Group identifies the domestic market as very important but also has to expand exports to the world.
In the country, the group has increased its signings with large corporations such as Petrolimex and VinGroup.
The group's products also aim to meet the requirements of the world, for example, chip-embedded tires. Currently, the group is approaching to sell products to world-famous car manufacturers such as Harley.
Sixth, continue to review and reorganize the restructuring in the direction of streamlining, reducing units, and overcoming overlapping functions in the spirit of Resolution 18.
Regarding the proposal, the group currently has 6 factories in Bien Hoa 1 Industrial Park (Dong Nai province). According to Dong Nai province's regulations, these factories will have to be relocated by the end of 2025, but up to this point, the group has not yet received a relocation policy plan.
If relocated by the end of this year, Vinachem will not be able to implement it, while these 6 factories contribute greatly to the business results of the entire group. Hopefully the Government will give opinions so that the province can soon implement.
Regarding trade defense tax, the group proposed to continue applying trade defense tax on fertilizers, tires and tires.
Previously, DAP and MAP fertilizer products applied trade defense tax until August 2022, but then foreign products flooded in very strongly, affecting domestic production.
