Vietnamese Prime Minister Approves Vinachem Restructuring Plan

Vietnamese Prime Minister Nguyen Tan Dung approved a plan to restructure Vietnam National Chemical Group over the next three years, according to a posting on the government’s website.

The company, known as Vinachem, will focus its main activities on businesses such as making chemicals, fertilizer and crop-protection products.

While Vinachem is to remain state-controlled and a leader in its primary businesses, the company would sell stakes in as many as 13 units by 2015 and reduce its holdings in others, according to the posting.

Vinachem will focus on meeting domestic fertilizer demand and helping to ensure national food security, according to a company profile on its website.

To contact Bloomberg News staff for this story: Jason Folkmanis in Ho Chi Minh City at folkmanis@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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