2024, Vinataba contributes over 15,500 billion VND to the budget

In 2024, Vietnam Tobacco Corporation - Vinataba recorded many positive results: double-digit export growth - exceeding the 300 million USD mark, budget contribution reached over 15,500 billion VND.

On December 17, Vinataba held a conference to review Party work and business production plan for 2024.

Ms. Tran Thi Hoang Mai - Standing Deputy Secretary of Vinataba Party Committee awarded the Emulation Flag of the corporation to units that excellently completed their tasks in 2024. Photo: Vinataba

According to Vinataba's report, in 2024, Vinataba's total revenue will reach over 35,000 billion VND, completing 115% of the plan, up 13% over the same period last year; Contributing to the State budget more than 15,500 billion VND; Average income will increase by 12% over the same period last year, reaching 25 million VND/person/month.

With a strategic orientation focusing on developing high-quality products, expanding the domestic market, and effectively implementing market development solutions, after many years, the Corporation's market share has increased by 2.5% points and accounted for 65.7% of the industry's market share.

Vinataba's export activities continue to grow in output and turnover, contributing to affirming the company's position in the international market.

In 2024, export turnover will reach over 300 million USD, completing 140% of the plan, up 14% over the same period last year. Export output is estimated at 1,789 million bags, completing 119% of the plan.

The raw material work recorded great efforts of Ngan Son and Hoa Viet Joint Stock Companies. The planting area reached 109% of the plan, an increase of 18% over the same period last year. Purchased output increased by 19% over the same period. The processed raw material output of the units reached 164% of the plan. The raw material export turnover was approximately 15 million USD, 6 times higher than the same period last year.

Mr. Ha Quang Hoa - Member of the Board of Members, General Director of Vinataba reported at the conference. Photo: Vinataba

Along with production and business development, social responsibility is always given special attention by Vinataba's member units. In 2024, the Corporation continued to support 10 Vietnamese Heroic Mothers, 7 seriously wounded soldiers; built 107 gratitude houses, 2 community houses, 53 charity houses, and great solidarity houses; supported funding for road construction, cared for soldiers and people on Truong Sa island, and helped the poor. In particular, all employees of the Corporation and its units actively responded and contributed 10 billion VND to support local people affected by storm No. 3, supported the construction of roads, and accompanied the soldiers and people on Truong Sa island... The total amount of contributions and support in 2024 is over 28 billion VND.

With the achievements of 2023, entering 2024, Vinataba continues to move forward, increasing market share by 2.5 percentage points, exporting over 300 million USD, and paying the budget over 15,500 billion VND.

Mr. Ho Le Nghia - Party Secretary, Chairman of the Board of Members of Vinataba spoke in response to the direction of the superior. Photo: Vinataba

Speaking at the conference, Mr. Ho Le Nghia - Chairman of the Board of Directors of Vinataba said that in the context of increasingly facing difficulties in the industry, first of all the amended Law on Special Consumption Tax which will be applied in the coming time, setting growth targets like in the past years is very difficult.

Therefore, Vinataba needs to reshape its strategy from quantitative growth to qualitative growth. It is necessary to further promote the application of science, technology, digital transformation, towards green transformation; improve the quality of growth, meeting the requirements of the industry in the new era of national development.

“The forecast for the regional and world situation next year is that there will continue to be unpredictable fluctuations that could impact the Vietnamese economy, thereby reducing the purchasing power of domestic consumers. The tobacco industry is also facing many difficulties due to raw material prices, consumer markets, cigarette smuggling, etc. Therefore, Vinataba will continue to promote the spirit of initiative and creativity; focus on boosting production and business activities and implementing assigned tasks, especially in terms of production, market, investment, etc.,” Mr. Ho Le Nghia emphasized.