SOEs earn revenue worth nearly VND900 trillion in H1, up 27 per cent

Friday, Jul 22, 2022 07:57

Bien Dong 1 Project of the National Oil and Gas Group, one of the State-owned enterprises under the Committee for Management of State Capital at Enterprises' management reporting high profits in the first half of this year. — Photo

Nineteen corporations and enterprises under the management of the Committee for Management of State Capital at Enterprises (CMSC) reported total revenue of more than VND982 trillion in the first half of this year, equivalent to 90 per cent of the plan for the full year and 27 per cent higher than the same period last year.

The revenue excluded the State Capital Investment Corporation (SCIC) and Viet Nam Expressway Corporation (VCE).

The information was disclosed at CMSC’s meeting to review the results in the first half of this year and implement tasks for the second half held this week.

Of them, 17 enterprises reported pre-tax profit of VND53.2 trillion, 39 per cent higher than the target for the full year. Those reporting high profits included the National Oil and Gas Group, Viet Nam National Chemical Group and Airport Corporation of Viet Nam.

Major projects were also hastened, including Song Hau 1 Thermopower Plant going operational in May, Thai Binh 2 Thermopower Plant synchronised alternating current in June, the evaluation of Dung Quat Refinery expansion project submitted to the Government in June and Long Thanh International Airport in line with the schedule.

CMSC’s Chairman Nguyen Hoang Anh urged enterprises to make stronger efforts to take advantage of opportunities, overcome challenges and achieve the goals for 2022.

Anh said that the committee would continue to remove difficulties and obstacles for enterprises while creating the most favourable conditions for enterprises to recover and develop production and business.

The committee would push the restructuring and divestment of State capital, rearrange land as well as focusing on strengthening financial and investment supervision to accelerate the implementation of key projects.

Anh asked corporations and enterprises to speed up the disbursement of capital and the implementation of major projects to promote socio-economic development with a focus on projects which played important roles in infrastructure development, socio-economic development, national defence and energy security.

Anh also noted that 19 corporations and enterprises must carry out the restructuring and divestment of State capital in accordance with the approved plan and with transparency. At the same time, attention must be paid to thoroughly handling loss-making and inefficient projects and unprofitable assets.

Co-operation for “Net-Zero”

On the same day, CMSC joined the Southeast Asia Energy Transition Partnership Programme to implement a conference that aimed to support SOEs in energy to develop a roadmap toward “Net Zero”.

At COP 26 in November 2021, Prime Minister Pham Minh Chinh committed that Viet Nam would achieve “Net Zero” in 2050.

CMSC said that SOEs operating in the energy sector would play important roles in promoting energy transition in a cleaner and more sustainable direction, adding that support would be provided to energy SOEs to develop a roadmap towards net zero emissions.

The cooperation with the Energy Transition Partnership, a multi-donor partnership formed by governmental and philanthropic partners to accelerate the sustainable energy transition, would create conditions for the transparent and trustworthy development of the clean energy market in Viet Nam. — VNS

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