Groups and Corporations promote their leading role in the economy - Vietnam National Shipping Lines Corporation

Constantly growing, becoming an important resource of the Country

Currently, Vietnamese corporations and general companies are growing stronger and stronger, playing a decisive role in the growth and shaping of the national economy . Under the leadership of the Party and the State, economic corporations and general companies have achieved remarkable growth in revenue and profit, expanded markets, and improved production and business capacity.

During their operations and development, despite facing many challenges from the global and domestic economic context, corporations and groups still demonstrate their intrinsic strength and high adaptability. In particular, in the face of the impact of the COVID-19 pandemic and the complex fluctuations of the world situation in recent years, these "locomotive" enterprises have always maintained regular production and business activities.

During the 3 years affected by the COVID-19 pandemic, total revenue, profit, payment to the state budget, value of implemented development investment capital and average income of employees at corporations and general companies all increased. According to the State Capital Management Committee at Enterprises, in 2023, the total equity of 19 corporations and general companies will reach 1.18 million billion VND (up 11% compared to 2018); total assets will reach 2.54 million billion VND (up 5%); total consolidated revenue will reach 1.85 million billion VND (up 44%). In the 2018-2023 period, total payment to the state budget will reach 1.28 million billion VND, accounting for an average of 10-12% of the country's total annual budget revenue.

In 2024, the total consolidated revenue of 19 corporations and general companies is estimated at VND 2.03 trillion, equal to 120% of the annual plan and 107% over the same period in 2023; consolidated pre-tax profit is estimated at VND 111.69 trillion, equal to 158% of the annual plan and 156% over the same period; consolidated state budget payment is estimated at VND 206.2 trillion, equal to 153% of the annual plan and 105% over the same period.

Notably, despite the difficult context of 2024, a number of enterprises have made strong breakthroughs, setting new records in many indicators. In particular, the Vietnam Oil and Gas Group (PVN) has set a new record when it exceeded the annual plan in terms of total consolidated revenue of VND 966.7 trillion, exceeding the annual plan by 32%, up 3% over the same period last year; consolidated profit before tax is estimated at VND 48.9 trillion, exceeding the annual plan by 2.2 times and the state budget contribution is estimated at VND 154 trillion, exceeding the annual plan by 64%, up 2% over the same period last year.

Along with that, the consolidated pre-tax profit of MobiFone Telecommunications Corporation is estimated at VND 2.04 trillion, exceeding the annual plan by 20.6%; the consolidated revenue of Vietnam National Shipping Lines (VIMC) is estimated at VND 17.496 trillion, exceeding the annual plan by 30% and exceeding 25% compared to 2023; Vietnam Airlines Corporation (VNA), the consolidated pre-tax profit in 2024 is estimated at VND 6.264 trillion, a sharp increase compared to the same period last year and exceeding the annual plan by 38.5%...

Leading the economy to develop stably and sustainably

It can be said that the growth of corporations and general companies in recent years has become an important driving force for the development of the Vietnamese economy. Not only are they the “leading birds” leading the economy, these enterprises also participate in and demonstrate strong responsibility to the community and society; provide necessities, support people facing difficulties due to natural disasters, epidemics, etc.; contribute to ensuring national defense, security, social security and macroeconomic stability.

Specifically, corporations, general companies, especially state-owned enterprises, continue to be important pillars in creating added value for the economy. With large scale, large capital, adaptability to modern technology and high access to resources, these enterprises often operate in key economic sectors, creating products and services with high added value, contributing significantly to the gross domestic product (GDP).

Currently, the General Statistics Office is conducting the 2025 Enterprise Survey to collect information from enterprises operating in the country, including corporations and general companies. The results of the survey will provide a comprehensive picture of the production and business activities of all types of enterprises in the economy, which is an important basis for formulating economic development policies in the coming time.

In addition, with financial potential and high-quality human resources, corporations and general companies have the ability to invest in research and development (R&D), apply new modern technologies, improve management skills and train human resources. Thereby, helping to spread positive impacts to small and medium-sized enterprises through supply chains and cooperation; at the same time, promoting the digital transformation process, helping to improve national competitiveness. In particular, the pioneering of large enterprises in applying international standards on quality management, environmental protection and social responsibility also creates higher standard values for the economy.

Through paying taxes and fees, this group of enterprises contributes significantly to the state budget, creating important resources for investment in infrastructure development; implementing socio-economic goals; developing education, health care and other public sectors. In addition, large-scale corporations and general companies have the ability to create millions of jobs, increase income, improve the quality of life for people, contribute to stabilizing the labor market and ensuring social security. Corporations and general companies are also pioneers in implementing the State's social policies, especially policies for disadvantaged groups and remote areas.

Currently, the General Statistics Office is conducting the 2025 Enterprise Survey to collect information from enterprises with production and business activities nationwide, including corporations and general companies. The information collected includes: Identification information; Information on labor and income of employees; Information on production and business results and costs; Information on industrial products of enterprises and branches of enterprises; Information on export and import of services of enterprises; Information on transportation costs and insurance costs of imported goods; Information on agricultural, forestry and fishery production to meet the information requirements of the 2025 Rural and Agricultural Census.

With the above-mentioned importance, statistical information on the scale and performance indicators of enterprises nationwide in general and of corporations and general companies in particular is of special significance. The results of the survey will provide a comprehensive picture of the production and business activities of all types of enterprises in the economy, which is an important basis for planning economic development policies in the coming time./.

Finance Magazine

Source: https://vimc.co/joint-stock-company-develops-the-role-in-investment-of-the-economy/