The Vietnam National Coal - Mineral Industries Holding Corporation Limited (Vinacomin) faced numerous difficulties in 2015. Specially the historic flood in the northern province of Quang Ninh in July and August affected Vinacomin's operations. However, by promoting the tradition "Discipline and unity", and concentrating at highest level on coal production and business, Vinacomin has surmounted all difficulties and challenges to implement its objectives.
Overcoming difficulties
The essential production targets have been basically achieved as the plan proposal including coal production over 37.2 million tonnes, coal consumption is about 35.5 million tonnes. Total revenue about VND105,494 billion, contribution to the State budget VND53,600 billion.
Vinacomin’s President and CEO Dang Thanh Hai also directed its member units to closely follow the domestic and international market price fluctuations for coal consumption to reduce inventories and implement a variety of measures to ensure production cost savings.
According to Mr Dang Thanh Hai, in 2015, the Group continued to face various difficulties. However, with the tasks assigned by the government and ministries from the beginning of the year, Vinacomin was determined to maintain production and consumption; carry out synchronic measures to cut production costs, lower product prices.
To improve competitiveness and make a breakthrough in the development of engineering sector of Vinacomin, Mr Dang Thanh Hai asked for a closer cooperation and coordination among the member units and to work out development strategies to develop the engineering sector of the group.
He also said the development planning of the coal-mining industry until 2020 with vision to 2030 specified that the development orientation of engineering sector is to enhance research, design and manufacturing capabilities on its own and boost application of advanced technologies and technological transfers for enterprises in the sector. Vinacomin is making the most of the available resources to make high quality and competitive products and maintain the growth of engineering enterprises.
Business plans in 2016
2016 is forecast to be a difficult year. Vinacomin targets to produce 39.87 million tonnes of coal, sell 38 million tonnes of coal, and earn VND110,016 billion this year.
Vinacomin targets its growth rate in total revenues for period 2015-2020 at 6.8 per cent/year, development investment of VND20-30 trillion/year, value increase at 5 per cent/year, labour productivity increase at 4-5 per cent/year, and income per worker increase at 3.5 per cent/year.
The main products in the 5 years from 2016 to 2020 are: coal sales 200.5 million tonnes; imported coal to supply for domestic market from 40 to 50 million tonnes.
Electricity production is targeted at 51,640 million kWh with a total capacity of 2,880 MW by 2020.
Huong Giang
Vietnamese
