Total pre-tax profits at 18 out of 19 State-owned groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) is estimated at VND39.219 trillion (nearly $1.6 billion) this year, exceeding the annual plan by 73 per cent and equal to 117 per cent of the figure posted in 2021.

Reporting on the production and business performance of the groups and corporations in 2022, CMSC Vice Chairman Nguyen Ngoc Canh said Electricity of Vietnam was the only group to record a loss of VND31 trillion ($1.3 billion), due to its inability to raise power prices.

The remainder reported estimated total revenue of VND1.12 quadrillion ($42 billion), equal to 114 per cent of the annual plan and 133 per cent of the figure in the previous year, Mr. Canh told a conference held by CMSC on December 15 to review operations in 2022 and set tasks for 2023.

Of note, he said, some groups and corporations have made major efforts and seen positive achievements, surpassing numerous production and business targets compared to previous years, including the Vietnam Oil and Gas Group (PetroVietnam), the Vietnam National Petroleum Group (Petrolimex), the Vietnam National Chemical Group (Vinachem), and the Vietnam National Coal and Mineral Industries Group (Vinacomin), among others.