The objective of the Project is to continue to improve operational efficiency so that the Vietnam National Coal - Mineral Industries Group (TKV) becomes a strong state-owned economic group with modern technology and production techniques, gradually meeting international standards on corporate governance; improving labor productivity, product quality, operational efficiency and competitiveness of enterprises; developing sustainably, in harmony with the environment and workers; developing in line with the trend of the fourth industrial revolution, green transformation, digital transformation, new energy transformation; making an important contribution to ensuring national energy security and socio-economic development of the country.
In the period up to 2025, TKV will continue to focus on core business areas where TKV has advantages in production technology, infrastructure, technological know-how, human resources and market. In core business areas, TKV will gradually restructure the proportion of areas according to a suitable roadmap, focusing all resources to increase labor productivity, reduce costs, and improve competitiveness. At the same time, expand business in service areas that create high added value.
The general orientation of business development is to link the business model with production to create a value chain of exploiting minerals along with waste rock and soil, treated wastewater, and providing logistics services; enhancing in-depth development by applying new, advanced and modern technologies.
Step by step, connect the 3 main business sectors of TKV: Coal - Electricity - Metallurgy. In which, focus on developing large-capacity underground mines according to the criteria of green mines, modern mines, high-capacity mines, connecting open-pit mines and underground mines into large-capacity mines.
Develop a roadmap and plan to increase charter capital appropriately to ensure sufficient counterpart capital for implementing investment projects according to the investment plan approved by competent authorities.
Strive for the total revenue of the whole Group by 2025 to reach 853,500 billion VND, and the total State budget contribution of the whole Group by 2025 to reach 108,161 billion VND.
TKV's main business lines are Coal Industry, Mineral - Metallurgy Industry, Electricity Industry, Industrial Explosives.
Promote the restructuring of corporate governance, focusing on perfecting the management system: Continue to maintain the Vietnam National Coal - Mineral Industries Group under the parent company - subsidiary model, in which the parent company (TKV) simultaneously performs two main functions: the function of direct production and business in various fields and the function of investing capital in subsidiaries so that these companies can conduct business in industries and investment projects that the parent company does not directly perform; ensuring compliance with the provisions of law.
Vietnam National Coal - Mineral Industries Group will strive to achieve total revenue of the Group by 2025 of VND 853,500 billion.
Besides, innovate and improve the efficiency of resource management, investment management and cost management.
Continue to divest capital from companies not in the main business field, or partially divest capital from companies in the main business field.
Regarding the development of a plan to restructure the finance, capital, and assets of the enterprise, including restructuring the investment portfolio in subsidiaries and associates. Specifically, continue to divest capital in companies not in the main business sector, or partially divest capital in companies in the main business sector to only hold a controlling or veto voting percentage depending on the importance of each company in the group structure. Use the capital obtained from divestment to invest in developing new projects in accordance with the law.
Implement a centralized payment mechanism in accordance with legal regulations to concentrate resources, avoid money stagnating in many intermediary stages while still having to borrow short-term for spending needs, reduce capital costs; implement solutions to reserve money at some locations, reduce reserves at all units, causing capital waste.
Regulate capital among units in the parent company in accordance with legal regulations to improve capital efficiency, avoid local capital surplus or shortage, increase cash flow, and reduce capital costs.
Parent company - TKV continues to be a single-member limited liability company with 100% charter capital held by the State in accordance with Decision No. 1479/QD-TTg dated November 29, 2022 of the Prime Minister .
The public service units under the Group: Vietnam College of Coal and Minerals, Institute of Mining Science and Technology, Institute of Energy and Mining Mechanics, Coal and Minerals Hospital maintain and do not convert into joint stock companies because they are not on the list of industries and fields converted into joint stock companies according to Decision 26/2021/QD-TTg dated August 12, 2021 of the Prime Minister .
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