Vietnam's largest coal company asked the government to provide preferential treatment to clean up a large number of unsold stocks, but was told to solve their own problems, rather than help.

Vietnam National Coal Industry Group currently has 9.3 million tons of unsold coal stocks, while Vietnam Electric Power Group plans to cut orders of 2 million tons this year, the problem of inventory backlog will be getting worse.

The coal giant laughed at a meeting with the government working group in Hanoi on Monday, and a reduction in orders for Vietnam's electricity could kill more than 4,000 employees.

Dang Thanh Hai, General Manager of Vietnam National Coal Industry Group, hopes the government ordered Vietnam Electric Power and Vietnamese oil and gas group to buy coal only from Vietnam's national coal industry.

Hai also called on the government to give priority to domestic coal and tax incentives to help state-owned coal companies to clean up unsold stocks.

"Vietnam's national coal industry should be exported without quota restrictions," Hai added.

In response to the Vietnamese national coal industry for help, the government office director Mai Tien Dung said the government on the one hand will consider the appropriate policy to help the Vietnamese national coal industry to solve huge unsold inventory. On the other hand, the company must strengthen the administration, reduce production costs, improve productivity, to improve economic efficiency.

Vietnam's national coal industry reported that the January-June income of 53.53 trillion VND, completed 50% of the annual target. This year's profit is expected to reach 1 trillion VND, contributing 6.3 trillion VND to the national budget.

Vietnam's national coal industry has invested 450 projects, a total of 1.5 trillion Vietnamese dong, and Minister Dung asked to review these investments.

"The Vietnamese national coal industry should focus on its restructuring process and develop effective business and investment plans to strengthen its own financial strength," Dung concluded.