A Petrovietnam's drilling platform on Bach Ho oil field. Petrovietnam has secured the top spot on the list of PROFIT500 in 2023. (Photo: VNA) Among the companies, the ten on top comprisePetrovietnam, Samsung Electronics Vietnam Thai Nguyen, Viettel,Vietcombank, Techcombank, Petrovietnam Exploration Production Corp, BIDV, Military Bank,Agribank, and VPBank.
The ten most profitable private companies, meanwhile, consist ofTechcombank, VPBank, ACB, Vingroup, VIB, Vinamilk, HDBank, Hoa Phat, SHB, andTPBank.
Foreign direct investment companies maintained the lead in termsof return on assets (ROA) with 13.7%, up 2.7% year-by-year. Companiesoperating in the private sector came next with 11.2% andwere followed by those in the public sector (9.2%).
About one-third of companies on PROFIT500 expected economic growthof between 4.5 and 5.0% for the year 2023. Merely 4.5% anticipatedthat growth would surpass 5.5% whereas 13.6% forecasted it would beless than 4.0%.
More than half of the companies believed that their profits wouldimprove slightly against the first six months of the year, 4.5%forecasted their profits would stay flat, and 40.9% thoughtotherwise.
Approximately three-fourths of the companies cited weakeningdemand and global uncertainties as the biggest issues holding them back.Other issues include rising input costs, high inflation in large importingcountries, and challenges in the realty and corporate bond markets.
"Falling orders and weak market demand haveled to higher unsold inventory, putting a lot of pressure on firms'production plans," said Vietnam Report.
Vietnam Report showed that companies were pinning their hopeson supportive policies from the Government, which are expected to create alow-interest environment conducive to their operation.
Nearly 60% cited cuts in bank lending rates as the drivingforce behind their profit growth in the second half of the year. Exactly54.5% relied on cuts in value-added tax whereas 27.3% ticked "theacceleration of public money disbursement".
Vietnam Report also underlined seven key measures to boost profitsin the last six months of 2023. Among the measures, expanding into new marketswas employed by over 80% of the companies. Enhancing customer services camenext with 77.3%, and then seeking new suppliers with about 75%.
It is also worth noting that at the time of the survey,merely 41% of the companies said they had reached over 50% of their profittargets for 2023, lower than the figure of the same time last year (73.9%)./.
VNA
