National chemicals group asked to speed up restructuring
Deputy Prime Minister Le Minh Khai on May 25 asked the Vietnam National Chemical Group (Vinachem) to exert every effort toward effective restructuring, while working with the group to assess operations over the 2016-2020 period.
Deputy Prime Minister Le Minh Khai addresses the event (Photo: VNA)
Hanoi (VNA) – Deputy Prime Minister Le Minh Khai on May 25 asked the VietnamNational Chemical Group (Vinachem) to exert every effort toward effectiverestructuring, while working with the group to assess operations over the 2016-2020 period.
Affirming the important role of Vinachem in the economy, Khai requested the Commission for the Management of StateCapital at Enterprises (CMSC) to collect ideas to complete the draft restructuring project, withpriority given to carefully evaluating the results, clarifying shortcomingsand limitations, and proposing feasible and effective restructuring solutions.
An overview of the meeting (Photo: VNA)
Agreeing with the proposal to supplement the charter capital forthe group, he noted that all conditions and resources must be ensured toincrease capital, and Vinachem must balance its own resources to supplement itscharter capital and increase its financial viability.
Regarding the plan to restructure the parent company, DeputyPM Khai said the Prime Minister has not yet decided that the State will hold100% of the group’s charter capital, adding that the CMSC and the group mustfollow government guidelines.
The equitisation of the parent company will be carried outafter 2025, he stressed, adding that before that time, the group must makethorough preparations, with a focus on effectively handling issuesrelated to housing, land and public assets./.
The Vietnam National Chemical Group (Vinachem) has proposed to the Prime Minister to delay the equitisation of the losing Ninh Binh Nitrogenous Fertiliser Plant until it generates profits again in order to ensure effective restructuring.
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Deputy Prime Minister Le Minh Khai addresses the event (Photo: VNA) 
An overview of the meeting (Photo: VNA) 
