Vinacoal Converted into Vietnam Coal Group

The Prime Minister has issued a decision to approve a pilot project on converting the Vietnam Coal Corporation into the Vietnam Coal Group, which would operate in the form of a holding company. On this occasion, VIB Forum has an interview with Mr. Doan Van Kien, general director of the Vietnam Coal Corporation.

 

Under the project approved by the Prime Minister, the Vietnam Coal Corporation will be converted into a business group. Accordingly, the management of the Vietnam Coal Corporation and some coal selecting companies and the Cam Pha port will merge as a parent company, the Vietnam Coal Group. Member companies of the Vietnam Coal Corporation will be converted into one-member limited and joint stock companies, in which the group will hold a controlling stake. The Uong Bi and Domestic Coal Companies will operate in the form of a holding company and the Northeast Coal Company will maintain its business model, acting under the Law on State-owned Enterprises. The Mining Science and Technology Institute and the Energy and Mining Mechanics Institute will act as one-member limited companies.

 

 

The Vietnam Coal Group will do business in many fields. Therefore, we will build electric power and mechanic plants. We will produce industrial dynamites and construction materials, exploiting minerals, including aluminium. We will operate in the trade and service fields. More importantly, we will have to promote equipment and technology renewal, advanced management application to improve the competitiveness and production safety. To that end, we will boost human resources development.

 

Joint stock companies within the Vietnam Coal Group will list on the stock market. However, a concrete date has not been set yet.