State Capital Investment Corporation’s profit rises 91%

VnSteel steel factory in Phu My 1 industrial park in Ba Ria-Vung Tau province. - Illustrative image (Photo: VNA)

Hanoi (VNA) - The State Capital Investment Corporation (SCIC) on January 10 reported that its after-tax profit in 2022 reached over 6.83 trillion VND (291.5 million USD), 91% higher than the yearly plan. 

Addressing a working session on January 10 to review business and production activities of SCIC and deploy its tasks in 2023, Chairman of the SCIC Members' Council Nguyen Chi Thanh said the corporation’s capital business and investment activities faced many difficulties amid the risk of inflation, and the strong fluctuation of the stock and real estate markets.

However, SCIC strived to surpass the business plan set for 2022 and recorded positive results in all aspects of its operations, Thanh said. 

As December 31, 2022, SCIC’s revenue hit almost 10.7 trillion VND (over 455.86 million USD), 51% higher than the figure in 2021, and 35% higher than the plan in 2022.

Thanh said the corporation has so far received 10 out of 14 enterprises with a total book value of 8.52 trillion VND out of the chartered capital of nearly 13.55 trillion VND.

SCIC will continue to coordinate with relevant ministries and sectors to sell state capital at businesses in the time to come.

It will continue to focus on implementing governance measures through its role as a state shareholder, promoting restructuring to improve operational efficiency, handling problems arising at companies, especially those with large capital scale and complicated financial situation.

Since the beginning of 2022, SCIC has proactively accelerated the selling of state capital. It successfully sold state capital at 26 enterprises with a total value of nearly 1.68 trillion VND./.