Restructuring Vinacomin

Restructuring Vinacomin - 

The Prime Minister has approved the project on Restructuring the Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) with the main business fields as coal, minerals – metallurgy, electricity and industrial explosives.

The key objectives of the project are:

1. Developing Vinacomin into a strong economic group with the modern technological level and management model, and high specialization

2. Compact and reasonable organizational structure

3. Improving labor productivity, product quality and competitiveness

4. Effective and sustainable activities

5. Playing a key role in supplying domestic coal for the economic sectors and contributing to energy security of the country

6. Building a harmonious working relationship in enterprise, ensuring interests of the owners as well as the employees and the community for the sustainable development.

The branches relating the main business fields of Vinacomin include: mechanics; chemicals; construction materials; management and operation of the ports; transportation; pilots; warehouses; building mines, industrial, civil and communication projects; geological survey and exploration; technical consultancy; scientific and technologic research; investment; training; inspection of the goods; health service; preventing, rescuing and overcoming mine incidents; activities to protect and restore the environment’

The arrangement plan- The equitization enterprises in 2017 -2020 are:

1.The parent company – Vinacomin (will be equitized in 2019). The State holds 65% of charter capital

2. Single Member Marine Pilot Company Ltd. Vianacomin holds 75% of the charter capital

3. Lam Dong Aluminum Single Member Company Ltd. Vinacomin holds 65% of charter capital or more

4. Institute of Energy mechanics and Mines. Vinacomin holds 51% of the charter capital

5.Dak Nong Aluminum Single Member Company Ltd. Equitization in accordance with direction of the government in the Paper No 484a/VPCP-CN dated 28/2/2017

18 units remain unchanged by organization and operating mechanism, and within the parent company structure. 8 units carry out merging, dissolving and reorganizing. 5 units with 100% of Vinacomin charter capital as the Mine Chemical Industry Corporation, Institute of Mine Science and Technology, Vietnam Coal and Mineral High School, Hospital and Magazine. 3 Joint Stock Companies Ltd. with 65% or more of Vinacomin charter capital including Vang Danh, Ha Tu and Mong Duong Coal Companies. 8 Joint Stock Companies Ltd with over 50% to 65% of Vinacomin charter capital. 4 Joint Stock Companies Ltd with less than 50% of Vinacomin charter capital.

Besides, Vinacomin should implement disinvestment from 16 enterprises.

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