Deputy Chairman of the Commission for the Management of State Capital at Enterprises (CMSC) Nguyen Ngoc Canh addresses the conference to review the work in 2021 and deploy tasks in 2022. (Photo: CMSC) The information was released at a conference to review the work in 2021 anddeploy tasks in 2022 held on weekend in Hanoi by the commission.
The 19 bodies earned total revenue of 821.3 trillion VND, equivalent to 99 percentof the annual plan and up by 8 percent compared to 2020.
The total amount of money they contributed to the State budget was 62.4trillion VND, 27 percent higher than the whole year’s plan.
Thirteen out of 19 corporations and groups completed and exceeded the annualrevenue plan. In contrast, six enterprises did not fulfil revenue targets,namely Vietnam Electricity (EVN), Vietnam Airlines (VNA); the AirportsCorporation of Vietnam (ACV), the Vietnam Railways Corporation (VNR), the VietnamNational Coffee Corporation (Vinacafe) and Vietnam Southern Food Corporation(Vinafood 2).
There were 14 out of 19 groups and corporations that completed and exceeded thebefore-tax profit plans for the year; 14 completed and exceeded the budgetpayment plan; five achieved higher profits than annual plans and in 2020.
Among the group of five units achieving higher profits than planned, the VietnamOil and Gas Group (PetroVietnam) recorded 40.7 trillion VND in pre-tax profit,up by 139 percent of the yearly plan and up 105 percent over the same period of2020.
Vietnam National Shipping Lines (Vinalines) recorded VNĐ2.9 trillion inconsolidated pre-tax profit in 2021, up by 474 percent compared to 2020 andexceeding 204 percent of the annual plan.
At the Chemical Industry Group (Vinachem), profit before tax reached 1.73trillion VND. In 2020, this group recorded a consolidated loss of up to 2.16trillion VND. In 2021, the group planned to experience another loss of 1.22trillion VND.
For the Vietnam National Oil andGas Group (Petrolimex), the consolidated pre-tax profit last year was 3.82trillion VND, up 171 percent over the previous year and exceeding 14 percent ofthe yearly plan.
At the conference, Deputy Prime Minister Le Minh Khai said that the CMSC andthe 19 corporations have successfully implemented the “dual goals" offighting the COVID-19 pandemic, while maintaining production and businessactivities, contributing to the recovery and socio-economic development of thewhole country.
In 2022, Deputy Prime Minister requested the CMSC to strengthen its capacity,strengthen the inspection and supervision tasks, especially financialsupervision and investment supervision.
He requested that the CMSC remove difficulties and reform administrativeprocedures, improve the investment and business environment to create the mostfavourable conditions for corporations to recover and develop production, toovercome negative impacts caused by the pandemic.
For the companies, the Deputy Prime Minister requested they conduct measures toprevent and control the COVID-19 pandemic to ensure safety for workers’ healthand income, at the same time, strive to complete the highest level of thebusiness plans in 2022; improve production and business efficiency; investaccording to strategies and plans and in accordance with the market economicmechanism, to ensure efficiency and sustainable development.
CMSC Deputy Chairman Nguyen Ngoc Canh said the commission would continue toeffectively handle outstanding loss-making projects that were behind scheduleand inefficient, continue to accelerate the restructuring of State-ownedenterprises, promote the process of equitisation and rearrangement ofenterprises under 19 groups and corporations.
Although recording positive business results in the context of the pandemic,CMSC leaders said that capital management activities at enterprises still hadshortcomings and limitations.
This includes the settlement of a number of tasks that have not yet met theprescribed deadlines such as financial statements; the plan for profitdistribution and setting up of funds in 2020; as well as corporate financialsupervision reports.
The main reasons for the limitations and shortcomings were the CMSC's heavyworkload, diversified fields, limited human resources, lack of experienced andqualified employees./.
VNA
