VINACHEM

In Apr 04, 2014, at Ho Chi Minh City, Vietnam National Chemical Group (VINACHEM ) organize preliminary conference of the first quarter and deployingtasks of the second quarter in 2014 and solutions to complete the plan of this year ofthe Group.

Attending themeeting were representatives of the leadership of the departments of theMinistry of Industry and Trade; the leadership of group, the leadership ofmember companies. Conference prisided over by Mr. Nguyen Gia Tuong, DeputyGeneral Manager, responsible for general director of the Group.

Delegates heard Mr. Ngo Manh Hoai , Deputy director of Group present theresults report task of the first quarter, propose orientation and task of the second quarter in this year. Accordingto the report , the first quarter of 2014, by effect of the difficult economy, purchasing weak , commodity prices fellsharply therefore the value of industrial production, revenue not reache noplans (down 3.4 % and 5.9 %, respectively, compared with the same period in2013 ). The unit was trying to focus on promoting production , expand markets indomestic and international therefore production and consumption most ofcommodities products have increased compare with the same period; to ensureemployment and income of employees. The construction work interest, most of theonging deploying project, local consumption within the Group has need to promotemore, striving to improve density purchasing within of Group. According to thereport, production and business task and investment building in the secondquarter as following : industrial production value to striving reach 13,965billion VND, up 19.4 % compared to the same period in 2013; Revenue strivingreach 15,035 billion VND, up 25.1 % compared to the same period last year;profits striving reached 800 billion VND, the first 6 months reach 50 % of theplan; total investment value striving reach 1,751 billion VND.

Mr. Nguyen Anh Dung , Chairman of Group spoke about the results task of thefirst quarter in 2014. He said that besides the positive results of theproduction business in difficult conditions but still have material growth, purchasingcommodity and services among units member business in the Group, theimplementation of the restructuring in the Group and unit member business, alsomany members need to overcome difficult such as negative growth, production ofmany commodities, especially fertilizer decreasing, construction investmentvalue is low, many key projects behind schedule risk; divestments slowly; theinternal governance regulations promulgated slowly. Chairman of the Boardmembers requested the unit member to focus performed synchronization of tasks,plans and solutions has mention in the report, especially focus on promoting production- business and consumption products to prevent recession, regain growth economy;boosting investment in key projects to ensure of the plan; promoteimplementation of the restructuring plan of the Group; strive to achieve thehighest results in terms of performance to celebrate 45 years of Vietnam Chemicaltraditional day...

The conference also heard presentations opinions of the representativeabout the results task of the first quarter, difficulties , and problem existand the petition in excuting the tasks of quarter I/2014 has mention in reportsas well as promoting restructuring within the unit members.

Also at the conference , Mrs. Ton Thanh Lan , Vice President of VietnamIndustrial Chemical Trade Union launched a movement to achive emulationcelebrate 45 years of Vietnam chemicaltraditional day.

Mr. Nguyen Gia Tuong praised the efforts of the unit member overcomedifficulties to complete production business plan, maintaining employment andensuring livelihood for staff offical, employees and contribute to help theGroup operating production and business good plan in the difficulties economic condition.However, the task of quarter II/2014 very heavy, to complete the task thatrequires the greatest effort. General director petitioned the unit membershould execute serious restructuring schedule and action plan of the Group hasmention in the report; flexibility in production and business, regulatory production;improve the efficiency of corporate governance, promote the application ofscientific and technological advances in production and cost reduction; strengtheninternal consumption; updates new policy economy; focus on environmental issues;deploy progress of key projects promulgation of legal documents to implementProtocol No. 49 of implementingGovernment; coordinating between levels unions... to implement complete theobjectives plan.

Previously, the Group announced the decision to change the senior personnelof the Group under which Mr. Nguyen Dinh Khang General Director resigned position toreceive new tasks by the central executive committee assignment; Mr. Nguyen GiaTuong, Deputy General Director of the Group will assume position GeneralDirector of the Group until the appointment of New General Director; Thedecision to appoint Mr. Ngo Dai Quang hold an position Deputy Group ChiefExecutive Officer.