Within the framework of the Vietnam-Laos Investment Promotion Conference held on December 3, 2025, with the presence of the Prime Ministers of both countries and leaders of ministries and sectors, Mr. Phung Quang Hiep, Member of the Central Committee of the Government Party Committee, Secretary of the Party Committee, and Chairman of the Board of Directors of Vietnam Chemical Corporation (Vinachem), was invited to speak at the plenary session. His speech attracted the attention of delegates from both countries, as it comprehensively addressed the cooperation orientation, development potential, and progress of key projects that Vinachem is implementing in Laos, especially the Potassium Salt Mining and Processing Project in Khammouane province.
The Vietnam-Laos Investment Promotion Conference took place on December 3, 2025, with the presence of the Prime Ministers of both countries and leaders of ministries and sectors. Photo: Vinachem.
Conference - Strategic Forum to Promote Vietnam-Laos Economic Cooperation
In his presentation, Mr. Phung Quang Hiep emphasized that the Vietnam-Laos Investment Promotion Conference is an important forum for leaders of the two governments, ministries, and business communities to exchange cooperation strategies, resolve difficulties, and open up new investment opportunities. Against the backdrop of the two countries celebrating major milestones – the 50th anniversary of Laos' National Day, the 80th anniversary of Vietnam's National Day, and the National Congresses of the Communist Party of each country – the conference creates a favorable foundation for promoting comprehensive cooperation, especially in the chemical and mining industries.
Vinachem - Large production capacity and wide-ranging cooperation opportunities in Laos
Affirming Vinachem's position in the development of foundational industries, he stated that the Group supplies more than 10 million tons of fertilizer, 7 million tires, and one million tons of chemicals and detergents annually. It is also the largest domestic battery manufacturer in Vietnam, with revenue exceeding US$2.5 billion and export markets in over 70 countries. Laos is considered a market with great potential and high demand for fertilizers, tires, batteries, and accumulators – areas where Vinachem has strengths. In recent years, trade turnover between Vinachem and Lao businesses has reached approximately US$70 million per year, showing a positive and sustainable growth trend for the future.
Mr. Phung Quang Hiep, Chairman of the Board of Members of Vietnam Chemical Corporation. Photo: Vinachem.
The Potassium Project in Khammouane - A highlight in the presentation by the Chairman of Vietnam Chemical Corporation.
In his presentation, the Chairman of Vinachem devoted considerable time to providing information on the progress of the Potassium Salt Mining and Processing Project in Khammouane – a key project of the Group and of strategic importance to the supply security of Vietnam's fertilizer industry. He expressed his deep gratitude to the leaders of the two governments and relevant ministries and agencies for creating favorable conditions for Vinachem to gradually overcome difficulties and accelerate the project's progress. Over the past period, the Group has sent numerous delegations to Laos to work directly with the Government leaders, the Ministry of Industry and Trade, Khammouane province, the Laos-Vietnam Cooperation Committee, the Department of Geology and Mines, the Department of Environment, and other relevant agencies to strengthen coordination and address issues arising on-site.
To date, the project has adhered to key implementation milestones. All materials and equipment from Vietnam and Thailand have been transported to the construction site; the revised feasibility study (FS) report was completed 1.5 months ahead of schedule, concluding that it is technically feasible and economically and socially efficient; the finalized FS document has been submitted for appraisal; and the units responsible for verifying and preparing the environmental impact assessment report have been agreed upon. The Group has also worked with credit institutions to arrange financing, organized scientific workshops to gather expert opinions, and proactively prepared bidding documents for FEED design, EPC contracts, and infrastructure conditions to be ready for the construction phase. Vinachem is simultaneously researching industrial farm or high-tech zone models to meet Laos' preferential policies, opening up opportunities to form new value chains and aligning with the country's industrial development orientation.
The strategic significance and determination of Vinachem in implementing the project.
According to Mr. Phung Quang Hiep, Vietnam imports nearly one million tons of potassium annually, of which about 350,000 tons come from Laos; Vinachem alone imports about 190,000 tons. Therefore, the successful implementation of the potassium project is of particular importance for ensuring a proactive supply, guaranteeing sustainable development, and driving double-digit growth for the Group in the 2026-2030 period. This project also contributes to deepening the special friendship and cooperation between Vietnam and Laos.
Mr. Phung Quang Hiep, Chairman of the Board of Members of Vietnam Chemical Corporation, affirmed that completing the potassium salt mine project on schedule is one of the key political tasks of the Corporation, both a responsibility and an honor. Photo: Vinachem.
The Chairman of Vinachem affirmed that completing the potassium salt mine project on schedule is one of the Group's key political tasks, both a responsibility and an honor. He emphasized the guiding principle of Prime Minister Pham Minh Chinh: "Don't say no, don't say it's difficult, don't say yes without doing it; only discuss doing it, don't discuss retreating," considering this as the guiding principle throughout the project's implementation.
Proposal to promote investment cooperation and optimize the effectiveness of the Potassium Project.
At the conference, Vinachem proposed that the governments of both countries continue to pay attention to and support the shortening of the time for appraisal and approval of FS reports; create conditions to allow the construction of some infrastructure items before the FS is approved; consider applying specific preferential mechanisms on corporate income tax, resource tax, and export tax; and support Vinachem and Vietnamese investors to cooperate in developing an area of over 90 km² to form an industrial complex model in accordance with Laos' Investment Promotion Law.
Concluding his presentation, Mr. Phung Quang Hiep emphasized that Vinachem will continue to demonstrate the highest level of determination, closely coordinating with relevant agencies of both countries to implement the project on schedule and make practical contributions to socio-economic development, further strengthening the traditional friendship and special solidarity between Vietnam and Laos.
Source: https://nongnghiepmoitruong.vn/tap-doan-hoa-chat-viet-nam-cam-ket-chi-ban-lam-d787911.html
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