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Vietnam National Chemical Group (Vinachem) has recently issued a Programme and Action Plan to implement the Ministry of Finance’s Action Programme for Resolution No. 217/NQ-CP dated 6th August 2026 from the Government, concretising the objectives to innovate the Group’s development model through 2030, 2035, and 2045.

The programme has been developed on the basis of Resolution No. 19-NQ/TW dated 28th July 2026 of the 3rd Plenum of the 14th Central Party Committee on renewing Vietnam’s development model; Resolution No. 217/NQ-CP of the Government; and the implementation plan of the Ministry of Finance.

Vinachem’s roadmap for innovation is focused on five key pillars: institutions and corporate governance; economics; society and human resources; ecological environment; and international relations and integration. Long-term objectives are set out for three periods: 2026–2030, 2031–2035, and 2036–2045.

Average Revenue Growth Target of 10% per Year for 2026–2030

For 2026–2030, the Group has set an average annual revenue growth target of at least 10%; annual labour productivity growth of 8.5%; and the contribution of total factor productivity (TFP) to revenue growth is aimed at more than 55%. The proportion of value added from science, technology, innovation, and digital transformation in the Group’s total value added is targeted at 30% or higher.

Alongside growth objectives, Vinachem is committed to strong innovation in its management approach. By 2030, 100% of key management regulations and processes will be reviewed; management by objectives, KPIs, and integrated risk management will be implemented. Looking further ahead, the Group aims for a digital management model, data-driven, and step-by-step development of an intelligent, transparent, and highly efficient chemical industry group.

Creating New Growth Drivers from Science, Technology, and Investment

The programme identifies investment, science, technology, and innovation as crucial drivers for the new development phase. Vinachem will focus on implementing an investment portfolio for 2026–2030, prioritising projects that create new production capacity, modernise technology, promote green transition, and generate positive spill-over effects.

A key task is to research and prepare investment in the Group’s Research and Development (R&D) and Innovation Centre, linking research with production needs, commercialising results, and gradually building capacity for high-tech chemical research.

The Group also plans to research next-generation batteries, with a focus on sodium-ion batteries and energy storage systems; invest in deepening battery production capacity for the electric vehicle and renewable energy markets. In chemicals, Vinachem will continue to invest in basic chemical projects while gradually shifting towards technical, high-purity, and speciality chemicals, and research products for semiconductors, electronics, healthcare, food, and rare earth extraction.

Expanding Markets and Promoting Green Transition

In terms of markets, Vinachem aims to boost exports, leverage FTAs, expand supply to domestic FDI enterprises, and continue market diversification in South Asia, North America, Latin America, and the Caribbean. The Group also seeks to enhance the role of VinachemMart in developing e-commerce, the digital economy, and more direct links between production, the market, and consumers.

Alongside growth, all member units are required to develop emission reduction roadmaps; promote energy saving, circular economy, and reuse of by-products and waste as raw materials. New and expanded investment projects must apply modern, efficient technologies and meet environmental standards.

Internationally, by 2030, Vinachem aims to establish at least three strategic partnerships with technology groups, R&D organisations, universities, and international research institutes; expand exports, technology cooperation, and overseas investment; and gradually deepen participation in regional and global value chains.

Upholding the Role of State-Owned Enterprises in Key Economic Sectors

Beyond its own development goals, the programme also places Vinachem under the broader requirement of helping ensure economic autonomy in fertilisers, chemicals, and certain strategic raw materials. The Group will continue to improve the efficiency of mining, processing, and using apatite ore, ensuring long-term raw material supplies for fertiliser and chemical production, while gradually moving into higher value-added, science- and technology-intensive fields.

Based on its core production sectors, Vinachem is oriented towards developing technical, high-purity, and speciality chemicals; researching products for semiconductors, electronics, healthcare, food, and rare earth extraction; developing next-generation batteries and energy storage systems; and enhancing battery production capacity for electric vehicles and renewable energy. These are steps towards building capabilities in new technologies, supporting improved competitiveness and domestic production autonomy.

Alongside strengthening domestic capacity, the Group aims to expand exports, leverage FTAs, increase technology cooperation and international investment, and progressively join regional value chains. In the long term, Vinachem seeks a significant position in key regional value chains for chemicals, materials, and strategic industrial products, thereby raising the profile, brand, and international competitiveness of Vietnam’s chemical industry.

Issuing the Action Programme not only sets out specific development goals for Vinachem to 2030 and a long-term vision, but also reflects the requirement to further assert the core, leading role of state-owned enterprises in fundamental and strategically important sectors of the economy. In line with Resolution No. 79-NQ/TW on the development of the state economy, Vinachem will continue to consolidate its core production sectors, enhance the efficiency of state resource utilisation, proactively innovate in management, science and technology, promote green transition, develop new sectors, and strengthen international integration. In doing so, the Group will incrementally enhance autonomy in fertilisers, chemicals, and strategic raw materials, support the competitiveness of domestic production, and make greater contributions to the country’s independent, self-reliant, and sustainable development.