The Viet Nam National Chemical Group (Vinachem) is targeting a 15.6 per cent increase in its industrial production value to more than VND12 trillion (US$526.3 million) in the second quarter of this year.

The group also aims for a modest rise of 4 per cent in revenue to over VND12.7 trillion in Q2, the Voice of Vietnam reported.

In the first quarter of this year, Vinachem focussed on enhancing its production capacity, accelerating exports while speeding up implementation of its under-way projects.

During the reviewed period, the group’s industrial production output saw a yearly increase of 5 per cent to VND9.68 trillion. Its revenue surged 6 per cent year-on-year to VND10.1 trillion.

Under the 2016-20 restructuring scheme submitted to Ministry of Industry and Trade (MoIT), Vinachem has sought the approval of the Prime Minister and MoIT to allow the corporation to divest from member companies to ensure feasibility and efficiency.

The chemical group is set to carry out equitisation from now to 2019 and proposes that the Government retain a controlling stake of between 51 per cent and 65 per cent after equitisation. It also plans to raise its charter capital by VND5 trillion through a share issuance during equitisation. — VNS