6:34:47 PM | 12/30/2025
Amid persistent uncertainties in the global and domestic economy, weakening market demand, increasingly complex natural disasters, and mounting cost pressures, Vietnam National Chemical Group (Vinachem) delivered an impressive “turnaround” in 2025. Not only did the Group overcome a prolonged period of difficulties, but it also set new records in production and business performance, posted a sharp surge in profits, and further affirmed its increasingly pivotal role in Vietnam’s chemical industry.
Conference on Reviewing 2025 Performance and Implementing 2026 Tasks of Vietnam National Chemical Group (Vinachem)
2025 was widely regarded as a challenging year for many industries as the global economy recovered slowly, supply chains fluctuated, and market purchasing power declined. For the chemical sector, these difficulties were even more pronounced, with volatile input material prices, intense competition, and increasingly stringent requirements on environmental standards and sustainable development. In this context, Vinachem faced considerable pressure to maintain stable production while ensuring business efficiency.
With a proactive, flexible, and decisive management approach, Vinachem gradually overcame the prolonged downturn and achieved a clear recovery turning point. According to reports at the 2025 Year-End Review Conference, the Group’s industrial production value was estimated at VND 61.381 trillion, up 10.3% year-on-year, reaching 100.3% of the plan and marking the highest level ever recorded. Consolidated revenue rose by about 8%, while total Group profit surged by as much as 73% compared to the previous year—figures that vividly illustrate a strong reversal in operational efficiency.
Chairman of the Members’ Council Phung Quang Hiep delivers a speech at the conference.
Notably, the Parent Company – Vinachem – fully eliminated its accumulated losses, exceeded all targets of the 2021–2025 five-year plan, and achieved these goals six months ahead of schedule. This was not only an impressive financial result but also carried significant governance implications, reflecting fundamental improvements in management, cost control, and production organization across the Group.
These achievements demonstrate that Vinachem chose the right path amid adversity: stability as the foundation, efficiency as the benchmark, and internal strength as the driving force for recovery. Rather than pursuing overheated growth, the Group focused on optimizing production, cutting costs, and closely monitoring market developments to timely adjust business plans, thereby creating room for breakthrough growth.
Alongside improvements in production and business performance, Vinachem continued to affirm its role as a pillar in balancing the supply and demand of chemicals and fertilizers for the economy. In 2025, the Group supplied millions of tons of fertilizers and plant protection products, accounting for over 45% of the domestic market. Several products maintained dominant market shares, including DAP fertilizers at 52%, superphosphate at 65%, and fused phosphate at 78% nationwide making important contributions to stabilizing agricultural production and ensuring national food security.
Decisive restructuring, reinforcing the pillar role of a state-owned enterprise
One of the key factors behind Vinachem’s 2025 “turnaround” was its resolute and well-structured restructuring process. The Group synchronously streamlined and reorganized its apparatus in line with Resolution 18-NQ/TW, reducing intermediate layers, improving governance efficiency, and enhancing management flexibility.
For projects once considered major “bottlenecks,” particularly the three troubled fertilizer projects under Scheme 1468, Vinachem successfully carried out restructuring. To date, these plants have been operating stably, generating profits, and repaying bank loans beyond plan, becoming “bright spots” in the Group’s overall picture. These results reflect persistent efforts to address long-standing issues and have strengthened the confidence of credit institutions, partners, and employees alike.
Overview of the conference
At a time when many enterprises struggled with labor and income challenges, Vinachem continued to maintain stable employment and livelihoods for its workforce. In 2025, the Group provided stable jobs for nearly 20,000 employees, with an average monthly income of VND 16.65 million per person, up 8% from 2024. This clearly demonstrates the role and social responsibility of a major state-owned enterprise, while also providing a stable foundation for Vinachem to confidently implement long-term strategies.
International integration and cooperation also recorded important progress. The potash salt mining and processing project in Laos - Vinachem’s key overseas project was restarted and is closely following its planned milestones, ready to move into the construction phase. Once commercially operational, the project is expected to create a strategic raw material source, contribute to fertilizer security, and open up new growth momentum for the Group in the medium and long term.
Innovation, digital transformation and green development – sustainable drivers to overcome challenges
Beyond addressing immediate difficulties, Vinachem has proactively laid the groundwork for sustainable development through innovation, digital transformation, and the greening of production. In 2025, the Group officially launched the “Greening and Digital Transformation of the Chemical Industry” program, identifying it as a strategic pillar for the new development phase.
For the first time, Vinachem introduced a line of consumer goods under its own brand and launched Vietnam’s first dedicated e-commerce platform for the chemical industry - VINACHEMMART. This breakthrough move enables the Group to expand distribution channels, directly access the market, and enhance brand value amid the rapid growth of the digital economy.
At the same time, Vinachem intensified research and investment in high-tech fields such as high-purity chemicals for electronics and semiconductor industries, as well as energy storage batteries for electric vehicles. These directions demonstrate a clear shift from extensive growth to intensive development, increasing scientific and technological content and added value in its products.
Brand development activities were also emphasized. At major fairs and exhibitions in 2025, Vinachem’s exhibition booths attracted large numbers of visitors and were awarded the title of “Outstanding Exhibition Space” among more than 2,500 participating units, contributing to enhancing the Group’s image in the eyes of the public and the business community.
Speaking at the year-end review conference, Deputy Prime Minister Bui Thanh Son acknowledged and highly appreciated Vinachem’s efforts to overcome difficulties and the comprehensive results achieved in 2025, while affirming the Group’s core, leading, and pioneering role in the chemical industry. This recognition is both a well-deserved acknowledgment of the recovery journey and an expression of expectations for Vinachem in the new development phase.
With a solidly strengthened foundation, the “turnaround” achieved in 2025 enables Vinachem to enter 2026 with a proactive, confident, and determined mindset. These achievements in overcoming challenges not only help the Group stand firm amid volatility but also create important momentum toward sustainable development, modernization of the chemical industry, and increasingly significant contributions to the national economy.
By Le Hien, Vietnam Business Forum
Vietnamese
