Prime Minister signed the Decision No 953/QD-TTg in which the Parent Company of Vietnam National Chemical Group changed to a limited company owned by the State.
Vietnam National Chemical Group (Vinachem)'s charter capital at the transformation point is 8,000 billion VND.
Its key production and trade sectors are fertilizers; pesticides; basic, consuming, and industrial chemicals; petrochemicals; pharmaceutical chemicals; rubber products; mineral exploiting and processing; state capital trading and investing.
Besides, Vinachem focuses on other industries such as trading equipments, machines, materials for chemical industry, training high qualified labour force for chemical and other sectors.
According to the Decision, Prime Minister and ministries assigned by the Government carry out rights and duties of the ownership to Vinachem
After changing to a limited company, Vinachem inherited legal rights, duties and benefits as well as deal with problems of the Group which was arisen before the transformation point.
Basing on the Decision, Chairman and members of Vinachem's Management Board will be still in their positions until Prime Minister appoints new chairman and members for the Management Board.