Vinacomin retains only four major sectors in Coal Industry Restructure

Vinacomin retains only four major sectors in Coal Industry Restructure - 

In orientation of coal industry restructure 2016-2020 period Vietnam National Coal - Minerals Industries Holding Corporation Limited (Vinacomin) would retain only 4 major  business sectors as coal, minerals, electricity and industrial explosives.

To implement the Vinacomin Restructure Project in 2012-2015 period according to direction of the Government, Vinacomin had focused on four main production business sectors as coal, minerals, electricity and industrial explosives.

For other business sectors, Vinacomin classified and put out a restructuring roadmap for a partial or the whole capital divestment or equitization with under dominant state shares

To the end of 2015, Vinacomin had basically completed equitization for 11/11 enterprises (including 3 corporations).

Regarding the capital divestment at enterprises, to the end of 2015, Vinacomin had completed capital divestment from 6 per 8 outside group companies and 5 per 7 under group ones, and transfered 2 foreign investment projects.

Vinacomin informed that, the capital divestment from the companies under Vinacomin subsidries was completed for 9 per 21 companies as planned.

Up to now, Vinacomin has arranged and converted 10 coal production single member limited companies into the subsidiaries under the parent company – Vinacomin, of which there are 3 companies from two management levels to one level; established newly and reorganized Vinacomin branches; reorganized the administrative units; unified 3 vocational colleges into the Vietnam Coal – Minerals Vocational College and upgraded the Labor Medical Center into the Coal - Minerals Hospital.

Besides, Vinacomin has perfected yet the business managerial and administrative mechanisms, streamlined management apparatus at the group headquarter from 28 to 22 boards. At the same time, Vinacomin has also perfected the internal management mechanisms as productivity increase, costs decrease, innovation and labor quality restructure…

Regarding orientation on restructure in 2016-2020 period, Vinacomin determines to maintain 4 main production and business sectors (coal, minerals, electricity, industrial explosives); continue organization restructure; apparatus and labor streamlining; and business administrative restructure.

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