Vinachem promotes chemical industry growth through digital transformation

In the first months of the year, thanks to the flexible application of solutions to respond to market fluctuations, the Vietnam Chemical Group (Vinachem) has always achieved a good growth rate; in particular, the end of accumulated losses after many years of restructuring is considered an important milestone, creating a premise to promote business development.

DAP production at DAP Joint Stock Company No. 2 - Vinachem.

General Director of DAP Joint Stock Company No. 2 - Vinachem, Mr. Vu Viet Tien said that the industrial production value of the unit in the past 7 months reached more than 2,072 billion VND, equal to 67%; revenue reached 2,189 billion VND, equal to 76% of the yearly plan. Thanks to the flexible application of market response solutions, the unit has achieved impressive production and business results with a profit of more than 247 billion VND, equal to 362% of the yearly plan.

Construction investment work is also being promoted when the gypsum (plaster) treatment and recycling project phase 1 includes 9 packages such as construction of raw material and finished product storage areas; leveling the ground for the construction of the gypsum treatment line, etc. with a total investment value of more than 48.4 billion VND, which is being implemented according to schedule.

“In the last months of the year, the unit will continue to closely monitor market developments to have timely response solutions to boost production and business, ensuring jobs and stable income for workers,” Mr. Tien emphasized.

Head of Vinachem Business Planning Department Bui Van Thang added that in the past 7 months, the group's industrial production value reached more than VND 37,600 billion, up 16% over the same period, reaching 63% of the yearly plan; revenue reached more than VND 40,800 billion, up 14.8% over the same period and reaching 71.6% of the yearly plan; pre-tax profit was more than VND 2,500 billion, reaching 96.3% of the yearly plan. The fertilizer industry group continued to affirm its role as a pillar of the company's profit growth when completing 103% of the yearly plan in just the first 6 months of the year.

Many units not only completed their profit plans early but also exceeded their targets, such as Joint Stock Companies: DAP No. 2 - Vinachem, Ninh Binh Phosphate Fertilizer, DAP - Vinachem, Van Dien, Binh Dien,...

The above results reflect the initiative in technological innovation, optimizing production costs, closely following market developments to optimize business performance and create a solid foundation to help the group continue to maintain growth momentum in the final months of the year.

According to Vinachem leaders, the unit's production and business targets all achieved double-digit growth, demonstrating a positive recovery momentum and effective business management capacity. In particular, the group ended its accumulated losses 6 months early (compared to the target of the end of 2025) after many years of financial and administrative restructuring.

At the end of 2020, when the accumulated loss reached VND 5,393 billion, it reflected an extremely difficult period; in addition, the impact of the Covid-19 pandemic and unfavorable market developments caused the enterprise to fall into a "difficult situation". However, the drastic direction in management and the efforts of the entire system helped the unit gradually overcome and boost production and business.

The complete elimination of losses is considered an important milestone, not only increasing revenue, profit, and budget contribution but also creating stable jobs for more than 18,000 workers, with an average income of nearly 14 million VND/person/month.

In order to meet domestic consumption needs, recently, Vinachem has put into operation the Vinachemmart e-commerce platform. This is the first digital platform of Vietnam chemical industry, marking a turning point in the modernization of the distribution system.

Vinachem General Director Nguyen Huu Tu affirmed that the launch of the e-commerce platform and new consumer product line not only helps people easily access the company's goods but also affirms the group's determination to digitalize business. The Vinachemmart e-commerce platform will directly connect manufacturers with consumers, cutting out intermediaries, bringing reasonable prices and convenient experiences to customers.

In addition, the unit focuses on greening consumer products, moving towards using environmentally friendly packaging and recyclable materials in new product lines.

The Group is also focusing on promoting the construction of smart factories and 4.0 factories at member units through a production model that integrates modern and automated technologies in a number of production stages,...

“In the last months of the year, the market is forecast to continue to fluctuate unpredictably, the risk of supply chain disruption and increased costs is increasingly present, etc. Therefore, units need to reduce costs, improve management efficiency, and be flexible in operations to make the most of every opportunity; at the same time, ensure raw materials for production, proactively follow the market to have plans to promote production and business, and soon reach the set target," Mr. Tu emphasized.

Source: https://baolangson.vn/vinachem-thuc-day-tang-truong-nganh-hoa-chat-bang-chuyen-doi-so-5058506.html