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Wednesday, June 19, 2024

Pre-tax profit of 18 SOEs above expectations

By Thai Huy

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HCMC – Over VND39.2 trillion in pre-tax profit was earned by 18 of the 19 enterprises under the Commission for the Management of State Capital at Enterprises, representing 117% of the figure last year and exceeding 73% of the year’s plan.

The total revenue of 19 enterprises and corporations is estimated at VND1.12 quadrillion, equal to 114% of the plan and 133% compared to the figure in 2021.

Some 15 of 19 enterprises saw their total revenue reach or exceed the plan, while 16 completed their responsibility for the State budget.

Some state-owned enterprises with remarkable achievements this year comprise PetroVietnam (PVN), Petrolimex, Vietnam National Chemical Group, Vietnam National Coal and Mineral Industries Group and Vietnam Expressway Corporation.

Meanwhile, Vietnam Electricity suffered a sudden loss of VND31 trillion due to volatile global fuel prices and rising costs of generating and buying electricity.

According to the Commission for the Management of State Capital at Enterprises, Vietnam’s economy has been affected by global economic fluctuations and internal risks from financial markets, currency, real estate and corporate bonds.

In 2022, state-owned enterprises and corporations strived to overcome these challenges and recover their production and business activities, contributing to socio-economic development and increasing the state budget’s revenue.

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