Analysis of business efficiency in Vietnamese mineral exploitation enterprises

COMMITMENT

I certify that this is my own research work.

The data and results presented in the thesis are honest, have clear origins and have never been published in any scientific work.

The pledger

Nguyen Thi Mai Huong

ACKNOWLEDGEMENTS

During the process of writing my thesis, I received the attention and help of the teachers of the Graduate Institute, the Faculty of Accounting of Hanoi National Economics University, the Faculty of Economics and Business Administration of Quy Nhon University, the Board of Directors of BMC Company, Lam Dong Bauxite Company, Bimal Joint Venture Company. Especially the support and encouragement of my family and my supervisors, Associate Professor , Dr. Nguyen Van Cong and Associate Professor, Dr. Pham Quang.

From the bottom of my heart, I would like to sincerely thank the help of teachers, family, friends and colleagues. This help has encouraged and helped me to perceive and clarify both theory and practice in the field that the thesis has mentioned.

This thesis is the result of my own careful research, scientific and serious work, but due to limited ability and qualifications, it is inevitable that there will be certain shortcomings.

I look forward to receiving the attention and contributions of teachers and those interested in this topic.

Glasses

Author

Nguyen Thi Mai Huong

INDEX

COMMITMENT i

ACKNOWLEDGEMENTS ii

TABLE OF CONTENTS iii

LIST OF ABBREVIATIONS v

LIST OF DIAGRAM

LIST OF TABLES AND FIGURES vii

INTRODUCTION ix

Chapter 1: THEORETICAL BASIS OF BUSINESS EFFICIENCY AND BUSINESS EFFICIENCY ANALYSIS IN MINERAL EXPLOITATION ENTERPRISES 1

1.1. Business efficiency and the relationship between business efficiency and effectiveness

social results 1

1.2. Content, methods and indicators of business performance analysis 16

1.3. Characteristics of business efficiency analysis in mineral exploitation enterprises in Vietnam 31

1.4. Organizing business performance analysis in mineral exploitation enterprises 50

Chapter 2 : CURRENT STATE OF BUSINESS PERFORMANCE ANALYSIS IN VIETNAMESE MINING ENTERPRISES 54

2.1. Overview of Vietnamese mineral exploitation enterprises 54

2.2. Current status of business efficiency analysis in Vietnamese mineral exploitation enterprises 70

2.3. Assessment of the current status of business efficiency analysis in Vietnamese mineral exploitation enterprises 95

2.4. Current status of business performance with main causes affecting business performance of mineral exploitation enterprises 102

Chapter 3 : PERSPECTIVES AND SOLUTIONS TO IMPROVE BUSINESS PERFORMANCE ANALYSIS TO IMPROVE BUSINESS PERFORMANCE OF VIETNAMESE MINING ENTERPRISES 109

3.1. Orientation and planning for the development of Vietnam's mineral exploitation industry 109

3.2. The need to complete business performance analysis in

Mineral exploitation enterprises 115

3.3. Perspectives on perfecting business efficiency analysis in Vietnamese mineral exploitation enterprises 121

3.4. Complete solution for business performance analysis to improve operational efficiency in mining enterprises

Vietnam products 124

3.5. Some basic solutions to improve business efficiency in

Vietnamese mineral exploitation enterprises 148

3.6 Necessary conditions for implementing complete solutions to improve business efficiency in mineral exploitation enterprises 160

CONCLUSION 169

LIST OF REFERENCES 171

STATISTICS OF SCIENTIFIC WORKS 176

APPENDIX

LIST OF ABBREVIATIONS

Acronym

Write in full Vietnamese	Write in full English
BMC	Binh Dinh Minerals Joint Stock Company
CCDC	Tools, instruments
Ltd.	Limited liability
Fixed assets	Fixed assets
SSL Labor	Profitability of labor
SSL V	Return on capital
SSL Certificate	Cost effectiveness
Labor productivity	Productivity of labor
SSX V	Productivity of capital
SSX CP	Productivity of cost
ROE	Return on equity	Return on Equity
ROA	Return on total assets	Return on Assets
TW	Central

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LIST OF DIAGRAMS

Diagram 1.1: Relationship between business performance and factors of the production process 10

Diagram 2.1: Technological process of exploiting raw materials by method

Open pit mine 59

Diagram 2.2: Organizational structure of business management apparatus of mining companies

Mineral Mining 62

Diagram 2.3: Organizational structure of the accounting department of Mineral Exploitation Company 65

Diagram 2.4: Accounting sequence of mineral exploitation enterprises in 2005 81

Diagram 3.1: Process of organizing business efficiency analysis in Vietnamese mineral exploitation enterprises 125

LIST OF TABLES AND FIGURES

Table 1.1 : Environmental pollution level of Vietnam's mining industry 39

Table 1.2 : Business performance indicators system of enterprises 48

Table 2.1 : Average growth in industrial production value by sector (1994 constant prices) 68

Table 2.2 : Export turnover of goods nationwide 1985 - 2005 68

Table 2.3 : Business performance report of Ha Tinh Minerals and Trading Joint Stock Company 74

Table 2.4: Business performance report of Binh Dinh Minerals Joint Stock Company 75

Table 2.5 : Business performance report of Lam Dong Minerals and Construction Materials Joint Stock Company 76

Table 2.6: Analysis of business efficiency through profit margins of mineral mining enterprises 77

Table 2.7 : Analysis of business efficiency through production capacity of BMC Company 80

Table 2.8 : Analysis of business efficiency through profitability of BMC Company 81

Table 2.9: Analysis of business efficiency through the loss rate of BMC Company 84

Table 2.10: Analysis of long-term asset utilization efficiency at Bimal 85 Joint Venture Company

Table 2.11 : Analysis of business efficiency through short-term asset turnover rate of BMC Company 87

Table 2.12 : Analysis of business efficiency through the return on equity ratio at some mineral mining companies 89

Table 2.13 : Status of fulfillment of obligations to the State of some Vietnamese mineral exploitation enterprises 92

Table 2.14 Growth rate of industrial production value in the period 1996 - 2006 102

Table 3.1 : Forecast of domestic demand for deep processing products of Titanium and Zircon ores by 2025 113

Table 3.2 : Estimated Ilmenite concentrate output according to planning period 114

Table 3.3 : Cost classification table according to cost behavior 129

Table 3.4 : Sample business results report using direct method 130

Table 3.5 : Detailed department report form 131

Table 3.6 : Matrix diagram to determine the role of comparison indicators 135

Table 3.7 : Determining the level of influence of factors on the short-term asset turnover rate of BMC Company 138

Table 3.8 : Inventory turnover ratio of Ha Tinh Minerals and Trading Company 143

Table 3.9 : Determining profit for 1 ton of exported Ilmenite with 52% quality rate at BMC Company 146

Table 3.10: Titanium is a mining product of the iron mining industry 149

Analysis of business efficiency in Vietnamese mineral exploitation enterprises - 1

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