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My interview with the head of Vinacomin (VIETNAM NATIONAL COAL AND MINERAL INDUSTRIES HOLDING CORPORATION LIMITED)

Interviewer: Nguyễn Trung Trực
Entrepreneur: Lê Minh Chuẩn

I have done the interview and compiled a list of the most important things to get from an entrepreneur. 

1. How did the idea for your business come out?
My company established at the moment when I had thought an idea that the coal corporation and the mineral corporation should become one. After that, we both (the 2 companies) agree to integrate and together grow our business.

2. How can you make the corporation become such a successful business in Vietnam? 

I keep following my three aims (development perspective - goal - missions) to get my business became one of the best business parts in Vietnam 


Development perspective: 

Developing the Group of Vietnam Coal and Mineral Companies under the guideline of sustainable development: “From the resources of antimicrobials and human resources to go up strongly; environmentally friendly, adapting to climate change; harmony with the locality and community; harmony with partners and customers; harmony between member companies and employees "with the goal" For a group of Vietnam Coal-Mineral Companies Strong - Friendly - Harmonized ".

Goal:


Building Vietnam Coal-Mineral Industry Group into a strong state-owned economic group with a rational structure; focus on manufacturing, trading coal, minerals, electricity, and industrial and materials. Improve efficiency, competitiveness, sustainable development in parallel with protecting the ecological environment; contributing to promoting socio-economic development, ensuring national energy security, actively integrating into the international economy.

Missions:

(1) Develop coal industry, mineral industry, electric industry, industrial explosive materials and other industries in a sustainable manner; (2) Profitable business, preserving and developing state investment capital at the Group, ensuring labor safety and protecting the ecological environment; (4) Contribute to economic restructuring in the locality and community development; (5) Continuously improve the professional level, material and spiritual life of workers and employees; (6) Meeting the coal demand of the economy; contribute more and more to the achievement of the goal "Strong and rich people, democratic, fair and civilized society".

3. What is your expectation for your current position?
As my term to work for this position is from 2016 to 2021, I wish to get as many as successful projects for this corporation and drive Vietnam to be in Asia's top 5 economies country in the near future.

4. What are your responsibilities as a chairman of the VIETNAM NATIONAL COAL AND MINERAL INDUSTRIES HOLDING CORPORATION LIMITED.
  • as well as being chairman of the corporation, I expected to act as the company’s leading representative which will involve the presentation of the company’s aims and policies to the outside world.
  • I have to ensure effective communication with shareholders and stakeholders.
5. How do you market your business and which tactic has been most successful?

As state-owned corporations in important sectors of the economy oil and gas, electricity and including Coal - Mineral part, these three businesses share the same superiority and natural monopoly in their areas of activity.

I have a wide range of market and nearly no competitor as my corporation has an exclusive business from government's rule. My business market almost covered all cities in Vietnam and reaching out to neighboring countries. 

The most successful tactic was "multidisciplinary business tactic" based on the basis of coal production. The Corporation has gradually removed difficulties, stagnated the subsidy period, built the right strategic goal for development. As a result, in 2005, the output of raw coal reached over 30 million tons, an increase of 2.7 times compared to 2000 and increased 5 times compared to 1994 (before establishing the Corporation). Total revenue in 2005 exceeded nearly 1 billion USD (of which 68% was coal), the profit before tax exceeded more than 1 billion USD.











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