Firms under state management authority post strong revenue growth

ABO/NDO- The 19 groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) have garnered an estimated 1.1 quadrillion VND (46.6 billion USD) in revenue in 2022.

The figure is an increase of 33% from last year and exceeds the target for 2022 by 14%, CMSC Vice Chairman Nguyen Ngoc Canh shared at a conference on December 15.

The conference on the performance of 19 state-owned firms under the CMSC.

He added that the 19 companies under the CMSC have demonstrated their core role in some sectors, produced significant revenue for the state budget and helped ensure major balances of the economy.

Excluding the power utility EVN, which incurred losses due to external factors, the total pre-tax profits of the 18 other firms have been estimated at 39.2 trillion VND (1.66 billion USD), up 17% from last year.

Among the 19 firms, 15 fulfilled their revenue targets, 17 achieved the pre-tax profit targets and 16 met the government revenue contribution targets.

The outstanding companies with strong performance included Petrolimex, Vinachem, Vinacomin and VEC.
In the past year, the enterprises under the CMSC have implemented many projects important to socio-economic development such as the Thai Binh 2 Thermal Power Plant, the expanded Hoa Binh Hydropower Plant and Long Thanh Airport.

According to CMSC Chairman Nguyen Hoang Anh, amid the difficulties caused by COVID-19, the state-owned groups and corporations have expressed their vital roles in stabilising the macroeconomy, spurring economic growth and helping to ensure social security.

He urged the CMSC and the firms under its management to make greater efforts to step up production and business in 2023, which is forecast to be an unpredictable year with many risks and difficulties.

(Source: NDO)