Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) hasreported some positive signs in handling 12 major loss-making projects, as someof them have managed to resume operation in the context of no more rescuecapital from the State budget.
Director of the MoIT’s Planning Department Duong Duy Hung said amongthose which have resumed operation, two projects have reported some profit,which are the Viet Trung steel plant with 419 billion VND (18.3 million USD) in profit in 2017 andthe DAP Vinachem with tens of billions of VND in profit.
Four other projects of the Vietnam National Chemical Group have been ableto operate at more stable capacity, thus remarkably reducing their accumulatedlosses.
Among projects of PetroVietnam, the Dinh Vu Polyester plant resumedoperation of three production chains in April this year.
The most remarkable point is that the projects resumed operation withoutusing any additional capital from the State budget, in line with the principleset by the Politburo and the Government for the handling of loss-makingprojects, the director stressed.
Furthermore, nearly 1 trillionVND (43.6 million USD) of State capital in the Thai Nguyen steel plant project has been retrieved,Hung said.
Regarding outstanding problems, Hung said disputes in EPC contracts ofthose projects are slow to be solved, despite the initial plan of completingthe work in the first quarter of this year.
According to the official, theministry will continue to reshuffle production and corporation administrationat projects with good progress such as the fertilizer plants, while cuttingmore costs and labour for higher productivity.
He stressed that the ministry will closely follow the instruction of thePolitburo, roadmaps approved by the Prime Minister and plans of actions of theSteering Committee in dealing with those projects in the time ahead, addingthat it is hoped that problems at the projects will be solved completely by2020.-VNA
Director of the MoIT’s Planning Department Duong Duy Hung said amongthose which have resumed operation, two projects have reported some profit,which are the Viet Trung steel plant with 419 billion VND (18.3 million USD) in profit in 2017 andthe DAP Vinachem with tens of billions of VND in profit.
Four other projects of the Vietnam National Chemical Group have been ableto operate at more stable capacity, thus remarkably reducing their accumulatedlosses.
Among projects of PetroVietnam, the Dinh Vu Polyester plant resumedoperation of three production chains in April this year.
The most remarkable point is that the projects resumed operation withoutusing any additional capital from the State budget, in line with the principleset by the Politburo and the Government for the handling of loss-makingprojects, the director stressed.
Furthermore, nearly 1 trillionVND (43.6 million USD) of State capital in the Thai Nguyen steel plant project has been retrieved,Hung said.
Regarding outstanding problems, Hung said disputes in EPC contracts ofthose projects are slow to be solved, despite the initial plan of completingthe work in the first quarter of this year.
According to the official, theministry will continue to reshuffle production and corporation administrationat projects with good progress such as the fertilizer plants, while cuttingmore costs and labour for higher productivity.
He stressed that the ministry will closely follow the instruction of thePolitburo, roadmaps approved by the Prime Minister and plans of actions of theSteering Committee in dealing with those projects in the time ahead, addingthat it is hoped that problems at the projects will be solved completely by2020.-VNA
VNA
