Vietnam Cement Industry Corporation asked to improve operations

16:03 | 05/04/2018 Companies

Minister and Head of the Government Office Mai Tien Dung identified key tasks for the Vietnam Cement Industry Corporation (VICEM) to boost the quality and effectiveness of its operations at a working session with the corporation on April 3.

Minister and Head of the Government Office Mai Tien Dung speaking at the working session - Photo: VGP

He asked for measures to increase VICEM’s market share in Vietnam’s cement industry, improve corporate governance, streamline organisational structure, and increase the quality and competitiveness of their products.

The corporation was also requested to increase the value of the application of technology in its production chain, save input materials, and take environmental issues into consideration when devising growth strategies.

Minister Dung emphasised that the VICEM must attach special importance to restructuring and equitisation, which are two of the key tasks assigned by the Government and the Prime Minister for the corporation.

He also stressed the need to coordinate with the transport sector to reduce logistics costs, which now account for 20 percent of the corporation’s product price.

According to a VINCEM report, the corporation fulfilled its set production and business plan for 2017 with approximately 26.6 million tonnes of cement being sold. The corporation reached a total revenue of VND34.1 trillion (US$1.49 billion) and its profit before tax saw an increase of 7.1 percent to VND2.85 trillion (US$124.8 million).

Theo NDO