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On the afternoon of 20th July 2026 in Ho Chi Minh City, Vietnam National Chemical Group (Vinachem) held a conference reviewing the first half of the year and outlining tasks for the second half of 2026.

Attending and directing the conference were Mr. Lê Tấn Cận, Deputy Minister of Finance; Mr. Phùng Mạnh Ngọc, Director General of the Chemicals Agency, Ministry of Industry and Trade. From Vinachem were Mr. Phùng Quang Hiệp, Party Secretary and Chairman of the Members’ Council; Mr. Nguyễn Hữu Tú, Deputy Party Secretary and General Director; members of the Party Standing Committee, Members’ Council, Board of Management, Chief Accountant, department heads and deputy heads, and leaders of member units.

Double-Digit Growth, Affirmed by Fortune SEA 500 Ranking

According to the conference report, Vinachem’s consolidated revenue in the first half of 2026 was estimated at VND 39,585 billion, up 10.2% year-on-year; industrial production value reached VND 36,121 billion, up 11.3%. Consolidated profit was estimated at VND 3,230 billion, up 54% over the same period and 110% of the annual plan. Nearly 20,000 employees, engineers and workers across the system enjoyed stable employment and income, with average earnings growing by over 10%.

This result comes as Vinachem appears for the first time in the 2026 Fortune Southeast Asia 500, ranked 148th among the region’s top 500 enterprises. The achievement reflects decisive and flexible management amid fluctuations in raw material markets and exchange rates, and provides the basis for maintaining double-digit growth throughout the 2026–2030 period.

Vinachem’s growth owes much to its leading enterprises. Binh Dien, DAP-Vinachem, Ninh Binh Nitrogenous Fertilizer and Chemical Limited Company, Ha Bac Fertilizer and Chemical Joint Stock Company, and DAP No 2 – Vinachem led in revenue and drove expansion, while Ha Bac, Ninh Binh Nitrogenous Fertilizer, DAP-Vinachem, Binh Dien, and Vietnam Apatit Limited Company posted the highest pre-tax profits, underscoring effective management, cost optimisation, and adaptability.

In his opening remarks, Mr. Nguyễn Hữu Tú, General Director, emphasised: "Although the first half of 2026 presented considerable challenges, the entire Group united in effort and determination to maintain stable operations and surpass all targets compared to the half-year plan and last year. This is a key motivator for fulfilling the full-year plan and contributing meaningfully to the double-digit growth target for 2026–2030 set by the Party and Government."

At the conference, leaders of member units presented papers on securing raw materials, accelerating key projects, responding flexibly to market changes, boosting online sales, and ensuring production and business stability to achieve the 2026 targets.

High-Tech Development Strategy

In line with Resolution No. 57-NQ/TW of the Politburo, Vinachem has placed science, technology, innovation and digital transformation at the core of its new development strategy. The Group aims not only to enhance management efficiency and production optimisation, but also to gradually shift towards high-tech, high value-added chemical sectors for sustainable growth.

Vinachem will focus on developing pharmaceutical chemicals, personal care chemicals, new materials, chemicals for electronics, semiconductors, energy storage batteries and rare earth extraction, while building a robust research and development (R&D) ecosystem. The Group is also implementing artificial intelligence, big data, ERP and digital platforms across its operations—a shift from scale-based to technology- and knowledge-based growth.

Speaking at the conference, Mr. Phùng Quang Hiệp, Chairman of the Members’ Council, underlined science and technology as decisive for future competitiveness, urging innovation at all levels—from management thinking and operating mechanisms to R&D and product development. He tasked the Vietnam Institute of Industrial Chemistry with acting as the leading centre for strategic research, accelerating commercialisation of research outcomes, and fostering new growth drivers for the Group.

International Cooperation and Trade Promotion as Strategic Pillars

The conference identified international cooperation as a major development driver, moving beyond traditional markets. This marks a significant shift in Vinachem’s development approach, with international partnerships no longer limited to import-export but expanding to technology access, supply chain extension, market diversification, and competitiveness enhancement.
In the first half of 2026, alongside continued double-digit growth, Vinachem expanded its partner network in key global regions, advancing cooperation programmes in raw materials, technology, research, production, and market development. These initiatives not only supported existing production growth but also prepared the Group for deeper participation in regional and global chemical value chains.

It was agreed that trade promotion will become more proactive and professional, aligned with the development strategy for each sector, market and key partner. Organising a Group-wide export conference, participating in major international trade fairs, and strengthening partnerships with leading global enterprises and associations are expected to drive further growth and reinforce Vinachem’s position in the regional chemical industry, in line with Resolution No. 79-NQ/TW of the Politburo.

Honouring Outstanding Collectives and Individuals

At the conference, Vinachem announced the Ministry of Finance’s decision to award Certificates of Merit to six collectives and seven individuals for outstanding achievements in 2025. Deputy Minister Lê Tấn Cận presented the awards, with Vinachem leaders offering their congratulations.

The collectives honoured by the Ministry of Finance:

• DAP-Vinachem Joint Stock Company
• DAP No 2 – Vinachem Joint Stock Company
• Ninh Binh Phosphate Fertilizer Joint Stock Company (NIFERCO)
• The Southern Fertilizer Joint Stock Company (SFJC)
• Vietnam Pesticide Joint Stock Company (VIPESCO)
• Vietnam Institute of Industrial Chemistry

The individuals honoured by the Ministry of Finance:

• Mr. Vũ Văn Bằng, General Director of DAP-Vinachem Joint Stock Company
• Mr. Vũ Việt Tiến, General Director of DAP No 2 – Vinachem Joint Stock Company
• Mr. Nguyễn Văn Đông, General Director of Vietnam Apatit Limited Company (VINAAPACO)
• Mr. Phạm Mạnh Ninh, Chairman of Ninh Binh Phosphate Fertilizer Joint Stock Company (NIFERCO)
• Mr. Đỗ Văn Tuấn, General Director of The Southern Fertilizer Joint Stock Company (SFJC)
• Mr. Nguyễn Thân, General Director of Vietnam Pesticide Joint Stock Company (VIPESCO)
• Mr. Trần Đại Nghĩa, Deputy General Director of Lam Thao Superphosphate and Chemicals Joint Stock Company

Maintaining Growth Momentum for the Next Development Phase

Looking ahead to the second half of the year, Vinachem aims not only to fulfil its annual plan but also to assert its growth capacity as a leading state-owned economic group. The Group targets consolidated revenue above VND 74.2 trillion and pre-tax profit of around VND 4,600 billion, maintaining double-digit growth in 2026 and laying the foundation for the 2026–2030 development strategy. To achieve this, Vinachem will continue flexible management, improve production and business efficiency, expand markets, and accelerate key projects, while prioritising science and technology, innovation, digital transformation, international cooperation, and trade promotion as new growth drivers.

In his address, Deputy Minister of Finance Lê Tấn Cận acknowledged Vinachem’s achievements in the first half of 2026, emphasising: "Double-digit growth is not only the goal for 2026, but should become the driving force for Vinachem to make breakthroughs in technology, enhance competitiveness, and achieve rapid, sustainable development in the new phase." He also urged the Group to focus on high-tech chemicals, accelerate key projects, improve management efficiency and brand development, and lay the groundwork for 2026–2030.

Responding at the conference, Mr. Phùng Quang Hiệp, Chairman of the Members’ Council, expressed gratitude and pledged to seriously heed the Ministry of Finance’s guidance. He affirmed: "Vinachem must not only meet growth targets, but truly act as a core, pioneering enterprise, leading the development of Vietnam’s chemical industry with science, technology, innovation, and international competitiveness." He stressed that the entire system would continue to unite, innovate, and effectively harness new growth drivers to successfully fulfil the 2026 mission and lay the foundation for future development.

In conclusion, General Director Nguyễn Hữu Tú instructed the parent company and member units not to become complacent, but to maintain focus on key production and business tasks, strategic investment projects, enterprise restructuring, management improvement, technological advancement, innovation, and digital transformation, while ensuring production safety and environmental protection throughout the system.

The results achieved in the first half of the year have created favourable conditions for Vinachem to achieve its 2026 growth target and have reinforced the foundation for long-term development. With a strategy centred on science and technology, innovation, digital transformation, international cooperation, and trade promotion as key drivers, Vinachem continues to assert its role as a core enterprise of Vietnam’s chemical industry, steadily enhancing its competitiveness, engaging more deeply in regional and global value chains, and contributing to the goal of building large, efficient, and competitive state economic groups in line with Resolutions No. 57-NQ/TW and 79-NQ/TW of the Politburo.

Some images from the conference: