Vinacomin eyes payroll cut, revenue rise in 2018

Deputy Prime Minister Trinh Dinh Dung asked the Viet Nam National Coal and Minerals Group (Vinacomin) to focus on labour and environmental safety as it develops a specialised management model. He spoke at the conference held in Ha Noi on Tuesday to sum up Vinacomin’s operations in 2017 and launch tasks for 2018. “The group should continue to develop drastic solutions to ensure labour safety. It is also required to ensure environmental protection and consider it as a top requirement in production,” he said. Dung hailed Vinacomin’s contributions to the country’s development in 2017. He asked the group to strengthen discipline in exploitation and preventing trade fraud. He also highlighted the group’s shortcomings in exploiting unsuitable coals, which resulted in large inventory without meeting customers’ requirements. The application of science and technology in the exploitation and processing of the group’s main products has been undertaken slowly. Some investment projects have been delayed or ineffective, causing losses in State capital. The deputy PM said this year would determine the country’s success in completing the five-year socio-economic development plan in the 2016-20 period, creating heavy pressure for the coal and minerals sector. Vinacomin was also asked to enhance the mobilisation of social resources to attract investment into projects to upgrade current mines to increase coal output for the economy. Vinacomin should focus on restructuring its investments to create highly competitive products. This would help the group improve productivity, quality and effectiveness. It should also enhance its relationship with localities and partners both… [Read full story]

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