Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has approveda project to reshuffle the Vietnam National Coal and Mineral Industries Group(Vinacomin) in 2017-2020, aiming to make the firm a strong economic group withhigh technology and a highly professional governance model.
The project is expected to simplify Vinacomin’s structure and improveits labour productivity, products’ quality and competitiveness, thus making it operatemore effectively.
The firm is also hoped to play a key role in supplying coal for domesticuse, ensuring national energy security.
Under the project, in 2019, the State will hold 65 percent ofVinacomin’s capital, while four of its subsidiaries will be equitised.
Meanwhile, the organisation of 16 of the group’s other companies will beunchanged, while eight others will be merged, dissolved or re-organised.
Vinacomin will keep 100 percent of capital in five units, namely theMining Chemical Industry Corporation, the Institute of Mining Science andTechnology, the Vietnam Coal-Mining College, the Vinacomin Hospital and theCoal-Mining Magazine.
Vinacomin will also hold at least 65 percent of capital of Vang DanhCoal, Ha Tu Coal and Mong Duong Coal joint stock companies.-VNA
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Illustrative image (Source: VNA) 
