Vietnam Chemical Group commits to completing the Potassium Salt Mining and Processing Project on schedule

Speaking at the Vietnam - Laos Investment Promotion Conference held on December 3, with the presence of the Prime Ministers of the two countries, along with leaders of ministries and branches, Member of the Government Party Executive Committee, Party Secretary, Chairman of the Board of Members of the Vietnam Chemical Group (Vinachem) Phung Quang Hiep affirmed: The Group will complete the Potassium Salt Mining and Processing Project on schedule - one of the key political tasks of the Group.

Báo Đại biểu Nhân dân•04/12/2025

At the same time, emphasizing the guiding spirit of Prime Minister Pham Minh Chinh : "Do not say no, do not say difficult, do not say yes but do not do; only discuss doing, do not discuss backing down," considering this as the consistent action motto in project implementation.

1(3).jpg — Vietnam - Laos Investment Promotion Conference

Large production capacity, open cooperation opportunities

In his speech, Chairman of the Board of Members of the Vietnam Chemical Group Phung Quang Hiep emphasized: The Vietnam - Laos Investment Promotion Conference is an important forum for leaders of the two governments , ministries and the business community to exchange cooperation strategies, remove difficulties and open up new investment directions. In the context 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 Party Congress of each country - the conference creates a favorable foundation to promote comprehensive cooperation, especially in the fields of chemical and mining industries.

3(2).jpg — Member of the Government Party Executive Committee, Party Secretary, Chairman of the Board of Members of Vietnam Chemical Group Phung Quang Hiep delivered a speech at the Conference

Affirming Vinachem's position in developing the foundation industry, Mr. Phung Quang Hiep said: The Group supplies more than 10 million tons of fertilizer, 7 million tires , 1 million tons of chemicals and detergents each year, and is also the largest domestic battery manufacturer in Vietnam with a revenue of over 2.5 billion USD and an export market in more than 70 countries. Laos is considered a potential market with a large demand for fertilizer, tires, batteries, etc. - areas where Vinachem has strengths.

In recent years, trade turnover between Vinachem and Lao enterprises has reached about 70 million USD/year, recording a positive and sustainable growth trend in the coming period.

Contribute to deepening the special friendship and cooperation relationship

The Chairman of Vinachem spent a lot of time informing about the progress of the project to exploit and process potash salt in Khammouane - a key project of the Group, which has strategic significance for the supply security of the Vietnamese fertilizer industry.

4(2).jpg — Delegates attending the Vietnam - Laos Investment Promotion Conference

He expressed his deep gratitude to the leaders of the two Governments and the ministries and branches for creating favorable conditions for Vinachem to gradually remove difficulties and speed up the project progress. Recently, the Group has deployed many working delegations to Laos to work directly with the leaders of the Government, the Ministry of Industry and Trade , Khammouane province, the Laos - Vietnam Cooperation Committee, the Department of Geology and Mining, the Department of Environment and other relevant agencies to promote coordination and handle issues arising at the site.

Up to now, the project has been following the important 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 earlier with conclusions on technical feasibility and socio-economic efficiency; the completed FS dossier has been submitted for appraisal; the units that appraised and prepared the environmental impact assessment report have been agreed upon. The Group has also worked with credit institutions to arrange capital, organized scientific seminars to solicit expert opinions, proactively prepared the FEED design bidding documents, EPC contract and physical conditions to be ready to enter the construction phase.

Vinachem is simultaneously researching industrial farm or high-tech park models to respond to Laos' preferential policies, opening up opportunities to form new value chains and in line with the industrial development orientation of the neighboring country.

According to Mr. Phung Quang Hiep, Vietnam has to import nearly one million tons of potash each year, of which about 350,000 tons come from Laos; Vinachem alone imports about 190,000 tons. Therefore, the successful implementation of the potash project is of special importance for the proactive supply, ensuring sustainable development and being the driving force for double-digit growth of the Group in the period 2026-2030. This is also a project that contributes to deepening the special friendship and cooperation between Vietnam and Laos.

Vinachem's Chairman affirmed that completing the potash salt project on schedule is one of the key political tasks of the Group; at the same time, he emphasized the guiding spirit of Prime Minister Pham Minh Chinh: "Do not say no, do not say difficult, do not say yes but do not do; only discuss doing, do not discuss backing down," considering this as the consistent action motto in project implementation.

At the conference, Vinachem proposed that the two governments continue to pay attention to support, shorten the time for appraisal and approval of FS reports; create conditions to allow construction of some infrastructure items before FS is approved; consider applying special incentive mechanisms on corporate income tax, resource tax, export tax; at the same time, support Vinachem and Vietnamese investors to jointly develop an area of over 90km² to form an industrial complex model according to the Investment Promotion Law of Laos.

“Vinachem will continue to promote the highest determination, closely coordinate with the functional agencies of the two 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,” Mr. Phung Quang Hiep emphasized.

Source: https://daibieunhandan.vn/tap-doan-hoa-chat-viet-nam-cam-ket-hoan-thanh-dung-tien-do-du-an-khai-thac-va-che-bien-muoi-mo-kali-10398198.html