Total revenue of groups, corporations hits nearly 900 trillion VND

Hanoi (VNA) – 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 figure does not include the revenue of State Capital Investment Corporation (SCIC) and Vietnam Expressway Development Investment Corporation (VEC).

Ho Sy Hung, Vice Chairman of the Commission, reported at a conference in Hanoi on July 19 that pre-tax profit of the 17 enterprises totaled 53.27 trillion VND, exceeding the yearly target by 39% and equivalent to 91% of the figure reported in the same period last year.

Outstanding performers include the Vietnam Oil and Gas Group (PetroVietnam), the Vietnam National Chemical Group (Vinachem) and the Airports Corporation of Vietnam (ACV).

Except for the Vietnam Rubber Group (VFG), SCIC and VEC, the remaining 16 firms contributed some 125.82 trillion VND to the State budget, surpassing the yearly target by 1%, and up 21% year-on-year.

Hung said the Commission, groups and corporations have actively coordinated with ministries, agencies and localities to roll out many key, urgent projects such as Song Hau 1 Thermal Power Plant, Thai Binh 2 Thermal Power Plant, Dung Quat Oil Refinery Upgrading and Expansion project, and the first phase of Long Thanh International Airport.

The Commission has also issued documents guiding the enterprises in equitisation, capital divestment and restructuring, he added.

Nguyen Hoang Anh, Chairman of the Commission, said in the last six months the Commission will concertedly take solutions to support the groups and corporations in production and business; consider, approve or submit projects, strategies and plans to competent agencies; and accelerate the implementation of key projects.

Meanwhile, the 19 enterprises should ensure the progress and transparency of restructuring, equitisation and State capital divestment in line with legal regulations, he said./.