Becamex targets profit up 32%

Investment and Industrial Development Corporation (Becamex) targets to earn a profit after tax of 2.26 trillion VND (95.8 million) this year, an increase of 32% compared to 2022, besides increasing charter capital to 20-30 trillion VND.

Sunday, July 02, 2023 16:24

Illustrative image (Photo: becamex.com.vn)

Hanoi (VNS/VNA) - Investment and IndustrialDevelopment Corporation (Becamex) targets to earn a profit after tax of 2.26trillion VND (95.8 million) this year, an increase of 32% compared to 2022,besides increasing charter capital to 20-30 trillion VND.

In 2023, Becamex is expected to hit a total revenue of 9.46trillion VND, up 19%. The expected dividend payment ratio in 2023 is 9%.

According to Pham Ngoc Thuan, Becamex’s General Director, thecompany will continue to face many difficulties and challenges in 2023affecting the ability to attract investment, raise capital, and launch newprojects. Becamex will direct resources to invest in trade, services, and smartproduction in the period of 2023 to 2025.

Becamex will continue to invest in its existing projects, such as CayTruong industrial park, the A9 Building, commercial-service projects in the newurban area of Binh Duong New City, and National Highway 13 expansion project.

Thuan also emphasised that when investing in Becamex shares,investors should not look at immediate profits but must think about asset valueand long-term Becamex brand value.

Becamex plans to raise its capital from 20 trillion VND to 30trillion VND. In addition, Becamex targets to reach a market capitalisation of 7-10billion USD according to the government's expectations. Currently, the marketcapitalisation of Becamex is about 83 trillion VND, approximately 4 billion USD.Becamex will continue to invest to increase the value of assets on the stockexchange, Thuan said.

From 2023 to 2028, Becamex will develop traffic infrastructure forthe main routes passing through Binh Duong province, not only serving thetransportation of goods in Binh Duong province but also the western region of TayNguyen. When this transportation system is developed, the circulation of goodswill be improved, the land value will be higher, and the province will benefit,as well as Becamex.

Becamex will also develop next-gen eco-industrial parks.

Prime Minister Pham Minh Chinh said that Vietnam will have zeroCO2 emissions by 2050, according to Decree 35 of the Vietnamese Government.

Becamex will transform traditional industrial parks intoeco-friendly zones according to Decree 35. Becamex needs capital fromshareholders as well as support from the government to implement this plan./.

VNA

#Investment and Industrial Development Corporation #Vietnamplus #Vietnam News Agency #Becamex #profit #charter capital #market capitalisation Vietnam

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