Profits at many enterprises are forecast to grow 20-30 per cent in 2022 and many have officially announced goals including high profit growth.

The Dabaco Group (DBC) has approved its business plan and investment policy for 2022. It sets a target of revenue reaching VND22.56 trillion ($997.27 million) and after-tax profit more than VND918 billion ($43.4 million). The DamSan JSC, meanwhile, has set a sales target of VND2.22 trillion ($98.14 million), with pre-tax profit to be nearly VND121 billion ($5.34 million).

Another enterprise setting higher targets this year is the Becamex IDC Corp (Becamex), which has approved a production and business plan that includes total revenue of VND6.81 trillion ($301.46 million), up 5 per cent compared to 2021.

Vietinbank aims to increase total assets by 5-10 per cent, credit growth by 10-14 per cent, and mobilized capital by 10-12 per cent. The Sao Ta Food Joint Stock Company (FMC) is attempting to grow revenue and profit by 5-10 per cent. The Ocean Group Joint Stock Company (OGC) has set a revenue target of VND56.19 trillion ($2.47 billion), while the CIC39 Corporation (CIC39) targets VND600 billion ($26.51 million) in revenue, an increase of 23 per cent compared to 2021.

Revenue is forecast to be much higher this year thanks to broad vaccine coverage, the recovery of production, and better business activities. Moreover, strict social distancing measures are no longer applied and export growth is more positive.