Gov’t chief agrees to found Chemical Industry Group
09:18 | 26/12/2009
VGP – The PM just approved the plan on establishing the Việt Nam National Chemical Industry Group (VCIG) operating as a parent-subsidiary company.

 Chemical products of a Vietnamese Nitrogenous Fertilizer and Chemicals Company – Photo: VGP
VCIG, in which the State holds dominant ownership, consists of wholly State-funded enterprises and multi-owner companies.

It is permitted to engage in different fields, focusing on producing and trading in fertilizers, pesticides, basic and consumer chemicals; chemistry, pharmaceutical chemistry, petrochemistry; mining; rubber processing; and financial investment.

VCIG will have a charter capital of VND 8,000 billion. The parent company - Việt Nam National Chemical Group – manages 10 subsidiaries in which the State possesses the entire charter capital, 17 companies of which 50% of the charter capital is hold by the State, and 16 joint ventures.

Also under the Plan, some chemical entities will be founded, including the Vinachem-Apatite Corporation, Vinachem Nitrogenous Fertilizer and Chemical Corporation, and the Việt Nam Chemical University.

By Xuân Hồng
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