State-owned paper producer surpasses yearly revenue target
The Vietnam Paper Corporation (Vinapaco) earned nearly 2.6 trillion VND (111.8 million USD) in revenue in 2018, exceeding the yearly target by 19 percent and recording an annual increase of 15 percent.
Phu Tho (VNA) – TheVietnam Paper Corporation (Vinapaco) earned nearly 2.6 trillion VND (111.8million USD) in revenue in 2018, exceeding the yearly target by 19 percent andrecording an annual increase of 15 percent.
The figures were released at aconference to review the company’s performance last year and set out tasks for2019, which took place in the northern province of Phu Tho on January 22.
Accordingly, in 2018, Vinapaco’spaper output surpassed 120,000 tonnes, of which over 113,000 tonnes wereconsumed. It exploited 160,000 cubic metres of timber and planted new forestsspanning more than 2,300 hectares.
The company’s contribution to theState budget and profit reached 131 billion VND (5.63 million USD) and 70billion VND (3.01 million USD), respectively.
Speaking at the conference, Chairmanof the Vinapaco Members’ Council Hoang Quoc Lam said that in 2019, Vinapacowill focus on restructuring its apparatus, finances, development investment,and production; while carrying out a price assessment to sell its Phuong Namwood pulp mill in the Mekong Delta province of Long An.
The corporation also plans torestructure its southern paper material single-member limited liability companyand build a 135-billion-VND (5.8 million USD) wood pellet manufacturing plantin the Central Highlands province of Kon Tum, he unveiled.
This year, it expects to reel in over 2.6trillion VND, contribute 121 billion VND (5.2 million USD) to the State budget,exploit more than 130,000 cubic metres of timber, and plant close to 2,000hectares of forests.–VNA
The Vietnam Paper Corporation (Vinapaco) on October 26 was awarded with the Forest Stewardship Council (FSC) certificate as a recognition for its sustainable forest management.
The Vietnam Paper Corporation (Vinapaco) targeted earnings of more than 6.6 trillion VND (314 million USD) this year, a year-on-year increase of 25 percent, the corporation announced.
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Illustrative photo (Source: VNA) 
