PM approves Vinacomin restructuring

Prime Minister Nguyen Xuan Phuc has approved a project to reshuffle the Vietnam National Coal and Mineral Industries Group (Vinacomin) in 2017-2020, aiming to make the firm a strong economic group with high technology and a highly professional governance model.

Illustrative image (Source: VNA)

Illustrative image (Source: VNA)

The project is expected to simplify Vinacomin’s structure and improve its labour productivity, products’ quality and competitiveness, thus making it operate more effectively.

The firm is also hoped to play a key role in supplying coal for domestic use, ensuring national energy security.

Under the project, in 2019, the State will hold 65 percent of Vinacomin’s capital, while four of its subsidiaries will be equitised.

Meanwhile, the organisation of 16 of the group’s other companies will be unchanged, while eight others will be merged, dissolved or re-organised. 

Vinacomin will keep 100 percent of capital in five units, namely the Mining Chemical Industry Corporation, the Institute of Mining Science and Technology, the Vietnam Coal-Mining College, the Vinacomin Hospital and the Coal-Mining Magazine. 

Vinacomin will also hold at least 65 percent of capital of Vang Danh Coal, Ha Tu Coal and Mong Duong Coal joint stock companies.

Vietnamplus

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SGN lists 24million shares on HOSE

 Saigon Ground Services JSC (under code: SGN) will list on the Ho Chi Minh City Stock Exchange (HOSE) 24 million shares for the first time starting on August 1st at a reference price of VND 140,000 per share.