VINACHEM

On July 1st 2010, in Hanoi, Vietnam National Chemical Group ceremonially held its 6th Official and Worker Meeting to evaluate results of the 5th one and put forth objectives of this Meeting (2010-2012).

Mr. Do Dang Hieu - Chairman of MOIT's Trade Union, Mr. Tran Dinh Hung - Head of Policy-making Department of MOIT, Mr. Phung Ha - Head of Chemical Division attended the Meeting. As for Vinachem, there were Mr. Nguyen Quoc Tuan - Chairman of Vinachem's Party cum Chairman of Vinachem's Management Board, Mr. Do Duy Phi - members of Vinachem's Management Board cum President of Vinachem, Vice Presidents, Mr. Vu Tien Dzung - Chairman of Vinachem's Trade Union, and Heads of its Department as well as representatives of its companies.

Mr. Nguyen Gia Tuong - Vinachem's Vice President - delivered a report on achievements of the 5th Official and Worker Meeting as follows:

- Industrial production value in 2005-2010 was 12.1%, equivalent to the norm set by the 5th Meeting's Resolution in which 2008, 2009 and the first six month of 2010 results were 11,248 billion VND, 11,923 billion VND and 6,200 billion VND respectively;

- Average turnover growth rate was 18.5%, higher than the norm set by the 5th Meeting's Resolution in which 2008, 2009 and the first six month of 2010 results were 23,684 billion VND, 25,080 billion VND and 13,400 billion VND respectively;

- Average budget contribution growth rate was 44%, 10% higher than the norm set by the 5th Meeting's Resolution in which 2008, 2009 and the first six month of 2010 results were 876 billion VND, 1,366 billion VND, 550 billion VND;

- Average profit growth rate in the past five years was 40% in which 2008, 2009 and the first six month of 2010 results were 1.969 billion VND, 2,575 billion VND, 1,250 billion VND.

After reviewing and drawing lessons from the implementation of the 5th Meeting's Resolution, Mr. Nguyen Gia Tuong representing Vinachem's leaders put forth tasks and orientations for the 6th Official and Worker Meeting's Resolution such as: industrial production value up 16-17%/year, turnover up 15%/year, budget contribution up 10%/year, profit from now to 2010 not below 3,000 billion VND, export-import turnover up 15-20% and average income of employees up 5-10%.

At the Meeting, Mr. Vu Tien Dzung - Chairman of Vinachem's Trade Union - informed about the implementation of Democratic Resolution in the Group during last term. Besides, the financial report of Vinachem in the 5th term as well as presentations of DRC, Hanichemco, Lixco, Viwelco, Pinaco and SFC on their production and trade lessons and problem-solving measures were read there.

Mr. Do Dang Hieu - Chairman of MOIT's Trade Union and Mr. Nguyen Quoc Tuan - Chairman of Vinachem's Management Board also gave some guidance at the Meeting.

After that, representing Vinachem's leaders, Mr. Do Duy Phi - members of Vinachem's Management Board cum President of Vinachem and Mr. Vu Tien Dzung - Chairman of Vinachem's Trade Union signed Draft of Cooperation Resolution between the Group and Trade Union.

At the end of the Meeting, Vinachem's leaders and representatives of its companies altogether passed the 6th Official and Worker Meeting's Resolution and committed themselves to fulfil their duties in the coming term.