At the Conference on the implementation of monetary policy tasks in 2024, focusing on resolving difficulties for production and business, promoting economic growth and stability, on the morning of March 14, Chairman of the Council of Members of Vietnam Chemical Group (Vinachem) – Nguyen Phu Cuong said that in 2023, despite facing many challenges, the Group has overcome difficulties and achieved some positive results such as: Consolidated revenue reached over 57,000 billion, profit is approximately 3,500 billion, and contributed 1,700 billion to the state budget.
The Group has ensured employment for nearly 20,000 workers, with an average income of 13.6 million VND per person per month.
In 2023, the Group also produced over 3.1 million tons of fertilizer of all kinds, 3.4 million car tires, 330,000 tons of detergent and some other chemical products. Some products have achieved significant growth, including a 17% increase in urea, a 35% increase in DAP, a 15% increase in superphosphate, and an 18% increase in detergent.
Currently, the Group has a debt balance of about 15,000 billion VND in banks, most of the units in the Group have a healthy financial situation, rated A credit, fully repay the debt, both principal and interest.
Regarding the three weakest units belonging to a weak project of the industry and trade sector: Dam Ha Bac, Dam Ninh Binh, DAP Lao Cai. These are 3 units with negative owner’s equity, loss-making for many years, and have had 3 consecutive years of profitable business activities.
In 2022, the total profit of the three units: Dam Ha Bac, Dam Ninh Binh, DAP Lao Cai reached 2,700 billion, in 2023 reached 1,300 billion, and in the first 2 months of 2024, the units also operated stably and achieved profit, the production utilization rate is over 90% of the design capacity.
Chairman of Vinachem also added that the chemical industry is identified by the Party and the Government as one of the 6 foundation industries, playing an important role in the economy, implementing Decision No. 1265 / QD-TTg of the Prime Minister approving the “Plan to restructure the Parent Company – Vietnam Chemical Group in the period 2022 – 2025 and the plan to restructure Vietnam Chemical Group by 2025”, in the near future, the Group will implement investment, expand items, as well as relocate out of Bien Hoa Industrial Zone.
Taking advantage of the development opportunities of the semiconductor industry, the Group will focus on producing some materials such as Phosphoric Acid to serve the semiconductor industry, as well as green hydrogen or basic chemicals to serve other industries.
To implement the plan, launch the Kali salt mine in Laos, so the capital needs of the members in the Group will be very large in the coming time, the Group expects to continue to receive the attention and companion of credit institutions to have enough capital to implement the projects.
In front of the difficulties and challenges of the economy, the Group has built solutions to implement Decision No. 1265 / QD-TTg of the Prime Minister and looks forward to the guidance and attention of the Government, the Prime Minister, ministries, sectors, and credit institutions to be able to fulfill the tasks in the coming time.
