Vietnam Cement Corporation appoints new Acting General Director

The Vietnam Cement Corporation (VICEM), a state-owned enterprise under the Ministry of Construction, has appointed Do Tien Trinh as Acting General Director. Mr. Trinh, formerly the Deputy General Director, succeeds Ngo Duc Luu in this role. The decision, signed by Chairman Nguyen Quoc Viet, is set to take effect on August 12, 2026.

VICEM’s 2025 audited financial reports reveal significant financial challenges. While net revenue rose 8% to 24,631 billion VND and gross profit increased 62% to 2,751 billion VND, the company reported a post-tax loss of over 158 billion VND. This marks the third consecutive year of losses, with accumulated losses exceeding 3,408 billion VND as of late 2025.

The corporation holds total assets of 34,376 billion VND. However, auditors noted financial difficulties, highlighting that short-term liabilities exceeded short-term assets by 4,091 billion VND. Several subsidiaries, including Vicem Tam Diep, Vicem Song Thao, and Ha Long Cement, have also reported accumulated losses.