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.
Negative effects of the COVID-19 pandemic and uncertainties in the global markets caused some enterprises under the Commission for the Management of State Capital at Enterprises (CMSC) to see sharp declines in profits this year, with some even posting great losses and reductions in equity.
It is critical for State-owned enterprises (SOEs) to strengthen innovations as Vietnam has set the target of having at least 25 SOEs with a market capitalisation of 1 billion USD and more.
After severe impacts of the COVID-19 pandemic, enterprises invested with state capital has begun to bounce back since 2021, according to the Ministry of Finance.
The National Assembly (NA) Standing Committee looked into the inclusion of the draft Law on Management and Use of State Capital Invested in Production and Business at Enterprises (amended) into the law and ordinance building programme in 2023, during its 14th session in Hanoi on August 11.
The State Capital Investment Corporation (SCIC) plans to sell its entire 98.84% stake in its affiliate Thai Nguyen Industrial Zone Infrastructure Development Joint Stock Company (HTTN).
Prime Minister Pham Minh Chinh on July 31 inspected the progress of the second phase of the Thai Nguyen Iron and Steel Plant extension project (TISCO 2) in the northern province of Thai Nguyen on July 31.
The combined revenue of 17 out of 19 groups and corporations under the Commission for the Management of State Capital at Enterprises was estimated at over 892.16 trillion VND (38.05 billion USD) in the first half of this year, equivalent to 90% of the yearly target and up 27% year-on-year.
The Vietnam Electricity Group (EVN) and the French Development Agency (AFD) on March 28 signed a credit agreement with a non-Government guaranteed loan worth 80 million EUR (87.8 million USD) to implement the southern Vietnam power distribution project invested by EVN’s Southern Power Corporation (EVN SPC).
Although relevant policies have been put in place, the process of equitisation and divestment of State capital is still moving at a very slow pace, according to Dang Quyet Tien, director of the Corporate Finance Department under the Ministry of Finance.
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomin) will capitalise on advantages and turn challenges into opportunities, said its Chairman of Member Council Le Minh Chuan.
Nineteen State-owned groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) achieved total pre-tax profit of 34.2 trillion VND (1.5 billion USD) in 2021, exceeding the annual plan by 70 percent.
The Ho Chi Minh Stock Exchange (HoSE) has announced the additional listing of nearly 800 million shares of Vietnam Airlines Corporation, coded HVN, from November 15.
The national flag carrier Vietnam Airlines has increased its charter capital to 22.14 trillion VND (nearly 1 billion USD) by issuing additional shares to current shareholders.
The State Audit Office of Vietnam (SAV) has detected a number of loopholes in the management and use of State capital and assets at enterprises through its audit activities last year.
Among the 183 State-owned enterprises (SOEs) equitised from 2016 to June this year, only 39 are in the Prime Minister-approved list of the 128 SOEs subject to equitisation, equivalent to 30 percent.
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