Cao Bang Iron and Steel Company: Turning Potential into Value

Under the mining directions of the government and Cao Bang province, since its inception in October 2006, Cao Bang Iron and Steel Company has carried out two projects, including Cao Bang iron and steel complex project kicked off in 2007 at a cost of VND1,911.492 billion and Na Rua Cao Bang iron ore production project, implemented alongside the steel complex project. Both projects are expected to come into operation in September 2014.

 

With financial and personnel advantages, the company has determined to achieve four core elements: (1) Ensuring deep processing, (2) high-quality products, widely accepted by international markets, (3) production in couple with social security and generation of good working environment for employees, and (4) environment-friendly production. These four elements are very difficult to be achieved by any mining companies, let alone a young company like Cao Bang Iron and Steel Company. This is an enormous challenge for the company but it also reflects the company’s resolution to its objectives.

 

The company is focusing all resources to complete two key projects. With its high determination and serious working attitude, these projects have completed basic stages for future operation. Besides, the company has prepared enough human resources for operating and managing these projects. It has also sent its employees to other companies to learn experience in extracting and processing minerals and running machinery.

 

Director Nong Minh Huyen said “Being aware of the importance of human resources, immediately after its formation, with the support of Vinacomin Group, the company has soon perfected its personnel by receiving senior technical staffs from Vinacomin and businesses in the province. In addition to actively recruiting highly qualified personnel, the company also organises training courses for its employees to raise professional expertise for their works."

 

He said, to improve the quality of mineral extraction and processing, the province needs to choose capable investors with long-term investment and business plans. Besides, Cao Bang province needs to step up public administration reform, support enterprises to deal with legal procedures to help them start business operations soon and ensure material zones for enterprises to expand their production and conditions activities.

 

Besides, Cao Bang needs to regularly organise dialogues with businesses in order to timely capture their difficulties and help them deal with such nuisances. Simplifying administrative procedures, shortening the time for addressing problems related to the investment environment for investors, and creating an attractive environment for businesses are also important tasks of the province.

 

The company is confident that with the active support of local authorities and the close guidance of Vinacomin Group, the company will put two investment projects into effective operation as scheduled.