The Vietnam National Coal and Mineral Industries Group (Vinacomin) was established under Decision No. 345/2005/QD-TTg dated 26 Dec 2005 of the Prime Minister on the merging of the Vietnam Coal Corporation (the former Vietnam Coal Corporation established on 10 Oct 1994 under Decision No. 563/QD-TTG of the Prime Minister) and the Vietnam Minerals Corporation. It operates under the charter approved by the Prime Minister in Decision No. 228/2006/QD-TTg dated 11 Oct 2006.
On 25 June 2010, the Prime Minister issued Decision No. 989/QD-TTg on restructuring the parent company - The Vietnam National Coal and Mineral Industries Group - into a one-member limited company owned by the State. On 19 Dec 2013, the Prime Minister issued Decree No. 212/2013/ND-CP on the Charter of organization and operation of Vinacomin (replacing the former charter issued under Decision No. 418/QD-TTg on 21 March 2011 of the Prime Minister).
Development viewpoints of Vinacomin follow the motto of sustainable development: “Prosper from minerals resources and manpower; friendly with environment, adapting to climate change; being in harmony with local communities; harmonizing with partners and customers; keeping harmonization between member companies and workers”, working toward the goal “A Developed - Friendly - Harmonization Vietnam Coal and Mineral Industries Group".
For over twenty years, Vinacomin has been one of the largest state companies with reasonable structure; focusing on manufacture and trade of coal, minerals, power, industrial explosives; Improving efficiency and competitiveness, ensuring sustainable development go hand in hand with ecological environment protection; contributing to economic and social development, ensuring national energy security, proactively integrating into international economy.
Major achievements after 20 years of operation include: total salable coal production during 20 years: 525 million tons, of which the highest was 2011: 44.7 million tons, 7.5 times more than the production when Vinacomin newly established (notably, coal production workers rose merely 1.8 times). In 2014, even though encountering difficulties due to the impact of the global financial crisis and economic downturn, the deeper exploitation areas, key products are expected to enjoy growth compared with 2013 (2014 coal consumption was estimated to increase by 1 million tons compared with 2013, 2015 to increase by 2 million tons compared with 2014 and following years to increase 1-2 million tons/year).
Vinacomin has formed and developed various key industries including coal, minerals - Metallurgy, Power, Chemicals - Industrial explosive materials, contributing to the national energy security, the development of appropriate support industries and services (mechanical, construction materials, commerce and services...). Total revenues of Vinacomin in 2014 is expected to reach VND 106 trillion, 50 times more than the time Vinacomin first went to operation, especially the new product Alumin in 2014 is expected to reach 470,000-500,000 tons.
By 31 Dec 2013, the total assets of Vinacomin are VND 133,965 billion, or 6.5 times more than in 2005 when the company was newly formed. The units has preserved and increased capital: equity increased from VND 900 billion in 1995 to VND 33 trillion in 2013, more than 37 times. The ratio Debt/Equity are 2.7 times. State budget contribution in 2014 is projected at VND 13 trillion, up 11 percent compared with 2013. Vinacomin has helped ensure employment and income for 123,000 people, ensuring social security in the area; actively contributing and participating in social activities in the area. The labour productivity of coal production increased by 4 times compared to 1995.
Huong Giang
Vietnamese
