Vinacomin Aims to Exceed All Targets

The Vietnam Coal and Mineral Holding Limited Group (Vinacomin) has met all of its targets for the first 10 months of this year. It is expected that in 2014, Vinacomin will contribute approximately of VND13 trillion to the State budget, an increase of 11 percent compared to 2013.

 

As reported, Vinacomin has earned over VND86,867 billion in total revenue over 10 months, including all of its subsidiaries, accounting for 82.3 percent of the year's plans, an increase of 10 percent compared to the same period last year.

 

Remarkably, the group ensured jobs for nearly 130,000 workers at average income of VND8 million per person per month and a 7.5% year-on-year increase of miner's salary.

 

Moreover, the Group faced difficulties in financial balance with due taxes and fees on resource extraction costs continuing to rise in 2014. Despite many challenges in production activities, the group aims to complete and exceeding all the targets this year, including of production 37.7 million tonnes of coal, consumption of 35,5 million tonnes of coal, total revenue of whole year will reach VND105,520 billion.

 

Accordingly, since early October, the coal industry youth has registered and completed 193 works, with hundreds of innovative technical improvements, enabling benefits of nearly VND3 billion, thereby creating a vibrant labour and production movement to complete targets assigned. The 78th anniversary of the Traditional Day of Mine Workers and Coal Industry is an opportunity for each youth member of the coal industry to become more aware of their responsibilities towards labor and production, contributing to the development of the coal industry in particular, and Quang Ninh Province in general.

 

According to a report by the Vinacomin-Institute of Mining Science and Technology, in recent years, Vinacomin has been very interested in the application of science and technology in production and business activities.

 

Vinacomin has developed 10 key scientific and technological programmes, contributing to ensuring labour safety and hygiene, as well as effectively using resources and energy towards sustainable development.

 

In the first nine months of this year, research and development activities and scientific and technological services achieved good results. Total value of output reached an estimated VND220 billion, equal to 88 percent of the yearly plan. Of which, revenues from technology transfer and service contracts stood at VND138 billion while sales from production and business activities totalled VND55 billion.

 

Vinacomin has encouraged young workers to participate in the creative movement. Initiatives to be applied in practice have brought high efficiency, contributing to improving product value.

 

In terms of information technology, Vinacomin will apply IT in all fields of production and businesses such as managing flows of coal and minerals. These applications must be implemented uniformly in the Group.

 

The renewal of business administration, the development of international relations and the market expansion are also Vinacomin’s top priorities.