SOEs help stabilise macro-economy

With various drastic and flexible measures taken to boost production, business and investment activities and carry out assigned political tasks, 19 groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) have posted significant growth, contributing to maintaining macro-economic stability, a CMSC representative has said.

SOEs help stabilise macro-economy hinh anh 1

A corner of Thu Duc city in Ho Chi Minh City (Photo: nhandan.vn)

With various drastic and flexible measures taken to boost production, business and investment activities and carry out assigned political tasks, 19 groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) have posted significant growth, contributing to maintaining macro-economic stability, a CMSC representative has said.

Their total revenue was estimated to reach 580.49 trillion VND (24.1 billion USD) in the first half of this year, equal to 53.7% of the yearly target and up 4% year-on-year. Total before-tax profit of these groups and corporations (excluding the Vietnam Electricity - EVN) was estimated at 18.19 trillion VND, equal to 56.7% of the yearly plan, while their combined budget contribution reached 33.5 trillion VND, up 2% over the same period.

Several groups and corporations have recorded massive export values, making important contributions to the growth of the country's export turnover with the main exports being crude oil, garment and textiles, food, rubber, tobacco, and fertiliser.

Notably, their contributions are reflected in not only revenue and profit, but also their efforts to carry out assigned political tasks. Through production and business activities, they continue to hold key positions and roles in many important economic sectors and fields, and ensure the supply of essential products and services and major balances for the economy. The percentage of their market share and total output is about 87% of electricity, 50% of retail petroleum, 100% of dry gas, 70% of liquefied gas, 70% of fertiliser, 45% of mobile phone subscribers, and 41% fixed broadband.

SOEs help stabilise macro-economy hinh anh 2

Illustrative image (Photo: nhandan.vn)

In the field of transport, they hold 49% of domestic air passenger volume, and manage 21 out of the 22 civil airports, 16% of sea freight, and 100% railway transportation.

CMSC Chairman Nguyen Hoang Anh has tasked the groups and corporations with completing their production, business and investment plans for 2023 at the highest level, and improve production and business efficiency, and preserve and develop capital and resources allocated by the State.

As of the end of 2022, the groups and corporations under the CMSC had held about 63% of the total equity of State-owned enterprises and about 65% of their total assets./.

Source: VNA
en.vietnamplus.vn

Related News

Risks for the economy when cash flow has not yet been put in to production and business

Risks for the economy when cash flow has not yet been put in to production and business

VCN - Investment channels in Vietnam have a lot of potential, but financial and banking expert Dr. Nguyen Tri Hieu, Director of the Institute for Research and Development of Global Financial and Real Estate Markets, said that cash flow into production and business is still modest, leading to risks for the economy.
Vietnam to achieve credit rating as set target

Vietnam to achieve credit rating as set target

VCN - With the current credit rating scale, Vietnam is getting closer to the target of raising the investment rating grade by 2030 set out in the National Credit Rating Improvement Project by 2030.
Note for businesses when converting green and digital

Note for businesses when converting green and digital

VCN - Green transformation and digital transformation have been identified by businesses as a mandatory path if they want to develop long-term. However, there are many issues that businesses need to pay attention to right from the start of the transformation if they want to achieve efficiency.
Opportunities for growth model innovation are available

Opportunities for growth model innovation are available

VCN- According to Associate Professor, Dr. Bui Quang Tuan, former Director of the Vietnam Economic Institute, the economy can make a breakthrough thanks to innovation. The more innovative and drastic the implementation, the higher the growth quality will be, and the faster and more sustainably the economy will develop.

Latest News

State budget revenue reached 85.1% of estimate

State budget revenue reached 85.1% of estimate

VCN - The Ministry of Finance said that in the first 9 months of 2024, the total state budget revenue is estimated at 1,448.2 trillion VND, equal to 85.1% of the estimate, of which many revenue items have achieved good collection progress and growth compared to the same period in 2023. However, in recent months, budget revenue has begun to face difficulties, etc.
Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

VCN - The Ministry of Finance said that in the first 9 months of 2024, the state budget spent about VND 1,256.3 trillion, equal to 59.3% of current apropriation, an increase of 1.4% over the same period in 2023.
Increasing institutional investors – improving quality of corporate bond market

Increasing institutional investors – improving quality of corporate bond market

VCN - The structure and quality of investors have been one of the limitations of the corporate bond market in recent times. To improve the quality of the market, increasing institutional investors and improving the quality of investors, including individual investors, is one of the solutions that have been implemented by management agencies, thereby building a sustainable corporate bond market.
Urgent measures to restore production post-disaster

Urgent measures to restore production post-disaster

VCN - To quickly restore agricultural production after storm No. 3 and floods, the Prime Minister assigned the Ministry of Finance to guide the immediate implementation of financial support policies, tax exemptions, reductions, and extensions, land rents, water surface rents, etc. for those affected by storms and floods; continue to research to have policies to exempt and reduce fees and charges for those affected.

More News

An open banking system is essential for a smart city

An open banking system is essential for a smart city

Building a smart city with a smart payment system playing a key role has helped Hanoi gradually transform and make breakthroughs in the process of development, said Ha Minh Hai, Vice Chairman of the municipal People's Committee.
Tax sector focuses on simplifying tax administrative procedures

Tax sector focuses on simplifying tax administrative procedures

VCN - The tax sector is focusing on researching and proposing amendments to legal documents to simplify processes and procedures; promoting the modernization of information technology applications to support the settlement of tax refund dossiers more conveniently and quickly.
Individual customers' deposits in Jan-Jul see record high

Individual customers' deposits in Jan-Jul see record high

Total deposits from individual customers at banks had reached 6.8 quadrillion VND (276.3 billion USD) in the first seven months of this year, marking the highest level ever, according to the latest data released by the State Bank.
FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

VCN - The U.S. Federal Reserve (FED) has decided to cut interest rates and announced plans for further reductions until 2026. According to Dr. Can Van Luc, Chief Economist at BIDV and a member of the National Financial and Monetary Policy Advisory Council, the FED's shift in monetary policy has presented a great opportunity for Vietnam's exports and investments.
Developing smart cities through open banking ecosystem

Developing smart cities through open banking ecosystem

VCN - Building smart cities is an inevitable development trend, requiring synchronous digital transformation of many fields, including banking and finance.
Vietnam’s stock market likely to reach 9 million accounts by 2025

Vietnam’s stock market likely to reach 9 million accounts by 2025

Vietnam is on track to reach 9 million stock trading accounts by 2025 and 11 million by 2030, CEO of Vietnam Report JSC Vu Dang Vinh has said.
Managing price effectively, reducing pressure on inflation

Managing price effectively, reducing pressure on inflation

VCN - Timely and effective price management helps control the consumer price index (CPI) and inflation in accordance with the set target.
Important step to soon upgrade stock market

Important step to soon upgrade stock market

VCN - According to experts, the Ministry of Finance's issuance of Circular No. 68/2024/TT-BTC dated September 18, 2024 is an important step in the process towards the goal of improving the quality of the Vietnam’s stock market.
Accelerate implementation of solutions to disburse public investment capital

Accelerate implementation of solutions to disburse public investment capital

VCN - Facing the impact of storm No. 3 on economic growth, many experts continue to believe that public investment will play a key role in economic recovery and growth for the entire year of 2024. However, there is only one quarter left until the end of 2024. The target of disbursing at least 95% of investment capital is facing many difficulties.
Read More

Your care

Latest Most read
State budget revenue reached 85.1% of estimate

State budget revenue reached 85.1% of estimate

VCN - According to the report on the implementation of the state budget in September and the first 9 months of the year by the Ministry of Finance, the total state budget revenue in September is estimated at VND 94.3 trillion, equal to 5.5% of the estimat
Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

The Ministry of Finance said that in the first 9 months of 2024, the state budget spent about VND 1,256.3 trillion, equal to 59.3% of current apropriation, an increase of 1.4% over the same period in 2023.
Increasing institutional investors – improving quality of corporate bond market

Increasing institutional investors – improving quality of corporate bond market

VCN - The structure and quality of investors have been one of the limitations of the corporate bond market in recent times. To improve the quality of the market, increasing institutional investors and improving the quality of investors, including individu
Urgent measures to restore production post-disaster

Urgent measures to restore production post-disaster

To quickly restore agricultural production after storm No. 3 and floods, the Prime Minister assigned the Ministry of Finance to guide the immediate implementation of financial support policies
Risks for the economy when cash flow has not yet been put in to production and business

Risks for the economy when cash flow has not yet been put in to production and business

Investment channels in Vietnam have a lot of potential, but financial and banking expert Dr. Nguyen Tri Hieu said that cash flow into production and business is still modest, leading to risks for the economy.
Mobile Version