Twelve SOEs report losses in 2019
The Ministry of Finance has revealed that twelve out of 136 wholly state-owned enterprises had posted losses of 720 billion VND in total (31 million USD) in the first half of last year, and six others faced warnings regarding financial security.
Illustrative image (Source: VNA)Hanoi (VNA) - The Ministry of Finance has reported that twelve out of 136 wholly state-owned enterprises had posted losses of 720 billion VND in total (31 million USD) in the first half of last year, and six others faced warnings regarding financial security.
The report pointed out state-owned enterprises (SOEs) that posted big losses, including Vietnam Maritime Corporation, Vietnam Coffee Corporation and Corporation 15, with 617 billion VND, 37 billion VND and 48 billion VND, respectively.
The report focused on evaluating business performance and publicised financial information from SOEs and enterprises that had at least 50 percent of their charter capital controlled by the State.
As of November 30, four out of 20 ministries, ministerial-level agencies and Government agencies had not submitted full financial reports for the SOEs under their management, the report said.
On top of that, ten out of the 63 People's Committees in the country's provinces and cities had not submitted the required reports.
According to the report, in the first half of 2019, 136 SOEs gained total revenue of about 344.95 trillion (14.86 billion USD) and a total post-tax profit of 29.87 trillion VND (1.28 billion USD), of which 124 were profitable businesses./.
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