Steel corporation records stable growth in six months
The Vietnam Steel Corporation (VNSteel) has achieved stable growth in the first six months of this year, completing 53-68 percent of the corporation’s yearly targets.
Steel corporation records stable growth (Source: VNA)The information was reported by VNSteel’s Vice Director General Trinh Nguyen Khoi at a review conference in Hanoi on July 8.
The corporation and its members manufactured 983,000 tonnes of billet, up 22 percent year-on-year, and sold an estimated 314,000 tonnes, an increase of 7 percent against the same period last year.
Meanwhile, the production of construction steel hit 1,608,000 tonnes, a 23-percent year-on-year rise, with 1,623,000 tonnes sold, up 23 percent.
VNSteel estimates that its total turnover during this period was 577 billion VND, while pre-tax profit was over 105 billion VND.
VNSteel will take more measures to reduce production costs and the price of its products, aiming to improve its competitiveness and effectuate capital use, Khoi said.
He added that the corporation will also accelerate restructuring and divestment in ten of its subsidiaries, while promoting investment preparation in several members including the Southern Steel Company , Phu My Plate Steel , Nha Be Steel and Phuong Nam Steel Sheet.-VNA
You should also see
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
See more
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Business
Dak Lak firm pioneers in following EUDR in coffee production
The Dak Lak September 2 Import-Export Company Limited (Simexco) has pioneered in building coffee growing areas following the EU Deforestation Regulation (EUDR), it announced on April 25.
Business
Dong Nai calls for Korean investment into green growth
The southern province Dong Nai introduced its investment projects and incentives to the Republic of Korea (RoK)’s firms at a workshop in Seoul on April 25.
