Approval of the restructuring project of Vietnam Chemical Group
The Prime Minister has just issued Decision No. 2097/QD-TTg dated December 28, 2012 approving the Project on restructuring the Vietnam Chemical Group for the period 2012 - 2015.
On March 30, 2012, Prime Minister Nguyen Tan Dung pressed the button to start the system to launch the first ton of urea of Ninh Binh Fertilizer Plant, an event marking the efforts and success of Vietnam Chemical Group.
- Photo: VGP/Duc Van
The Vietnam Chemical Group is still maintained as a State-owned economic group. The project aims to ensure that the Group has a reasonable structure, is a leader in the production and trading of basic chemicals and chemical products serving agricultural production, domestic consumption and export; and improves the capacity, production and business efficiency and competitiveness of the Group.
Accordingly, the Group has 4 main business lines and 2 business lines related to the main business lines.
The four main business sectors and occupations include: production and trading of fertilizers and pesticides; mining and processing of minerals as raw materials for fertilizer and chemical production; rubber processing industry; production and trading of basic chemicals, consumer chemicals, and pharmaceuticals.
Two groups of industries and occupations related to the main business are: chemical industry design consulting; import and export of chemical materials and equipment; training of high-quality human resources for the chemical industry.
At the time of approval, the units within the structure of the Parent Company - Vietnam Chemical Group include: Office and functional and advisory departments; Chemical Science and Technology Information Center; Chemical Trade and Service Center.
According to the implementation roadmap from now until 2015, the Group will hold 100% of the charter capital in 2 enterprises, and upon equitization, the Group will hold from 65% to 75% of the charter capital in 5 enterprises. In the immediate future, the current state-owned charter capital ratio for 5 equitized companies will be maintained: Lam Thao Superphosphate and Chemicals; Southern Fertilizers; Binh Dien Fertilizers; Van Dien Fused Phosphate; Viet Tri Chemicals.
The Group holds over 50% to under 65% of charter capital in 13 enterprises, and at the same time holds no more than 50% of charter capital in 10 enterprises, and divests all state capital the Group holds in 13 other enterprises.
In this Project, the Prime Minister also emphasized 7 main contents of corporate governance restructuring: Amending, supplementing and perfecting the system of internal management regulations; rearranging the organizational structure, management and operation apparatus; perfecting regulations on personnel work, promoting human resource training; strengthening internal control; promoting the application of scientific and technological advances and implementing solutions to increase labor productivity, reduce costs in production and business activities; enhancing the responsibilities, obligations, powers and direction of the Group towards the Group's capital representatives in other enterprises; perfecting the organization of Party organizations and unions in enterprises belonging to the Group.
The Prime Minister assigned the Ministry of Industry and Trade to preside over and coordinate with relevant ministries and branches to guide, monitor and inspect the implementation of this Decision; report to the Prime Minister quarterly; preside over and coordinate with relevant agencies to promptly handle arising problems, and report to the Prime Minister on issues beyond its authority.
At the same time, the Ministry of Industry and Trade coordinates with the Vietnam Chemical Group and relevant agencies to develop and submit to the Government for promulgation a Decree on the Charter of Organization and Operation of the Vietnam Chemical Group.
According to (Chinhphu.vn) – LT
