January 24, 2013
Vinachem fights against fake fertilisers
Cooperation between Viet Nam National Chemical (Vinachem) Group and the relevant sectors should be established to fight against the trade of counterfeited fertiliser.
Minister of Industry and Trade Vu Huy Hoang urged the group to continue drawing up effective measures to remove difficulties for its affiliates, while focusing on ensuring efficiency of its operational projects and speeding up the implementation of new projects.
"Vinachem should also foster technical innovation to sharpen its competitiveness," Hoang said during a conference earlier this week to launch Vinachem''s tasks for the year ahead.
Despite the global and domestic economic difficulties, Vinachem still produced encouraging business results last year, said chairman of the management board Nguyen Anh Dung.
Last year, the group posted an industrial production value of over VND41.88 trillion (US$2.04 billion), surging 6% on the previous year. It earned an export turnover of US$520 million and its profit for last year surpassed VND3.31 trillion (US$162 million).
For 2013, Vinachem is aiming for a total industrial production value of VND47.96 trillion (US$2.34 billion), representing a yearly increase of 15%, a revenue at VND49.34 trillion (US$2.4 billion), up 12%, and profits equal to the 2011 figure.
During the conference, Vinachem petitioned the ministry to soon perfect and issue regulations on co-operation between the group and other firms in exploring and exploiting apatite ore for fertiliser production in the Northern Province of Lao Cai.
It also called on the Government to speed up the implementation of the Lao Cama€"Hai Phong and Vat Cacha€"Dinh Vu railway routes that would help facilitate the development of Dinh Vu Industrial Zone which is home to its key project, DAP Hai Phong Plant.
Encouraging more people to use Vietnamese goods to reduce imports was also necessary, it said. Under the three-year plan recently approved by Prime Minister Nguyen Tan Dung, Vinachem will withdraw its capital from many big firms in non-core business fields by the end of 2015.
Following the plan, Vinachem will still remain a State-owned enterprise that focuses on four main businesses including making chemicals, fertiliserand crop protection products.
Vinachem will retain its stakes in five equitised companies within its core area of business, including Lam Thao Fertilisers and Chemicals, Southern Fertiliser, Binh Dien Fertiliser, Van Dien Fused Magnesium Phosphate Fertiliser and Viet Tri Chemicals.