The Vietnam Oil and Gas Group (PetroVietnam) still enjoyed profit of more than 10 trillion VND (430.6 million USD) and contributed over 38 trillion VND to the State budget in the first seven months of 2020 despite Vietnam being hit by COVID-19.
Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), reported total revenue of more than 31.7 trillion VND (1.36 billion USD) in the first half of this year, down 38 percent against last year.
The COVID-19 pandemic is not only a big test for enterprise resilience but also an opportunity for businesses to re-evaluate their long-term strategy and urgency of sustainable development.
The Vietnam Railway Corporation (VNR) estimates a loss of nearly 1.4 trillion VND (60 million USD) after tax in 2020, a massive blow to the company due to impacts of the COVID-19 pandemic.
The Vietnam National Petroleum Group (Petrolimex or PLX) forecast a drop in both revenue and profit this year due to the decline in demand amid the COVID-19 pandemic.
Amid the global crisis sparked by COVID-19, Vietjet Aviation Joint Stock Company (HOSE: VJC) has created a foundation for recovery and will look to seize all opportunities for sustainable development from 2020 thanks to the resources of a robust management system, the airline’s modern fleet and flexible business strategies, especially its strong financial capacity.
The Vietnam National Textile and Garment Group (Vinatex), stock code VGT, predicts its consolidated profit before tax this year to fall by half to 382 billion VND (16.5 million USD) year on year due to the negative impacts of the COVID-19 pandemic.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has set a pre-tax profit target of 13 trillion VND (558.8 million USD) in 2020, just 1 percent higher than the figure last year.
The COVID- 19 epidemic greatly affected the production and business activities of Vietnamese enterprises. Some 30% of those listed on the stock market have posted declining profits, with a range of difficulties in need of attention when adjusting to the new production environment.
The business sector contributed over 60 percent to the gross domestic product in 2019, according to the White Book on Vietnamese Businesses released by the General Statistics Office (GSO) in Hanoi on April 28.
The business sector contributed over 60 percent to the gross domestic product (GDP) in 2019, according to the White Book on Vietnamese Businesses released by the General Statistics Office (GSO) in Hanoi on April 28.
According to the SSI Securities Corporation, if COVID-19 is controlled by the end of Q2, the banks' pre-tax profit will grow by 7.2 percent per year. However, if the epidemic ends at the end of the year instead, the growth will be 0.8 percent per year.
The Fourth Industrial Revolution (Industry 4.0) has a great impact on the human resources of the banking sector, according to the general director of Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
Textile stocks have been on a temporary upswing thanks to the recent ratification of the EU-Vietnam Free Trade Agreement (EVFTA) but textile enterprises still face difficulties due to heavy dependence on imported raw materials and machinery as well as reduced demand worldwide.
The outbreak of the acute respiratory disease caused by a new coronavirus (COVID-19) has resulted in a 20 percent drop in the number of the passenger flying via Vietnamese airports as compared to the same time last year, according to the Airports Corporation of Vietnam (ACV).
The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Vietnam (SBV) Le Minh Hung.
Many Vietnamese commercial banks have moved to develop retail banking services, seeing it as a strategy to reduce risks and optimise their business results, according to insiders.
The national flag carrier, Vietnam Airlines reported on December 30 that its profit in 2019 is estimated to hit nearly 3.37 trillion VND (146.20 million USD) – the highest level so far.
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