The State-owned Vietnam National Coal and Mineral Industries Group (Vinacomin) marked its 20th founding anniversary and received the State’s noble order for its accomplishments and contributions to the national development at a ceremony in Hanoi on October 11.

Over the past two decades, the group turned out hundreds of millions of tonnes of coal and developed industries relating to coal, minerals, electricity, chemicals, and explosive materials.

In the first nine months of 2014, it earned 78.3 trillion VND (3.7 billion USD) in revenue, which is a 12 percent increase year on year, meeting 74 percent of the year’s target, Vinacomin’s deputy general director Nguyen Van Bien reported at a recent press meeting.

Of which, the revenue from coal was 39.1 trilion VND (1.86 billion USD), a 12 percent increase year-on-year, and that from mineral amounted to 4.4 trillion VND (209 million USD), up 21 percent.

The group expects a year-on-year 10 percent rise in profits to reach 1.2 trillion VND (57.1 million USD) in the period.

The same time, the group contributed 8.6 trillion VND (409.5 million USD) to the State coffer, and the figure is expected to stand at 13 trillion VND (about 619 million USD) in 2014.

It sets to create jobs for over 120,000 people this year. Meanwhile, the average salary of its workers rose by 5 percent to 7.75 million VND (370 USD) each per month in the first three quarters due to increasing turnover, Bien said.

As the first State-owned enterprise to set up an environment fund, the group has engaged in environmental protection activities while actively applying cutting-edge technologies in production and developing human resources. It has also expanded partnership with businesses around the world.

At the ceremony, National Assembly Chairman Nguyen Sinh Hung awarded the group with the Independence Order, third class.

Addressing the event, Deputy Prime Minister Hoang Trung Hai spoke highly of the group’s efforts and highlighted its role in the national economy.

Pointing out several existing problems such as industrial accidents, low labour productivity and competitiveness, and weak corporate administration, he asked Vinacomin to accelerate restructuring and work harder to merchandise mining, raise productivity and ensure safety for workers.

He also told it to exert every effort to boost sustainable growth so as to deserve a pillar in ensuring the national energy security.-VNA