Business last week: Resolution 68 gives impetus to private enterprises

Resolution 68 was issued, businesses responded

The highlight of the business last week was the issuance of Resolution 68 of the Politburo on private economic development. The Resolution includes 5 main guiding points, in which it completely eliminates perceptions, thoughts, concepts, and prejudices about the private economy.

With this Resolution, a series of large private enterprises such as Vingroup, Thaco, Hoa Phat, FPT ... quickly embarked on large, national-scale investment projects, joining hands to develop the country's economy.

Businessmen believe that Resolution 68 creates a new vitality, adding motivation, enthusiasm and positive energy to the business community.

Doan Di Bang's husband's company profile distributing shampoo revoked

This week, the Drug Administration of Vietnam (Ministry of Health) decided to suspend circulation, recall and destroy the entire batch of Hanayuki Shampoo (300g bottle) due to not meeting quality standards.

Hanayuki Shampoo distribution company of Doan Di Bang's husband was established in 2021, specializing in cosmetics business.

A series of large enterprises such as Petrolimex, PV Oil, Binh Son have gloomy business.

Many oil and gas giants reported lower first-quarter results than the same period last year. Petrolimex and PV Oil both lost more than 80% of their profits compared to the same period last year. On the contrary, these companies have abundant cash.

Many businesses announced their first quarter business results (Photo: Manh Quan).

How is the 5-year investment of Ms. Nguyen Thanh Phuong's company?

Vietcap Securities Joint Stock Company (stock code: VCI) temporarily earned nearly VND 1,442 billion in profit in the first quarter with investment in IDP shares (Lof International Dairy Company).

Vietcap invested in IDP shares since 2020 with a value of nearly 441 billion VND, unchanged from the present. Lof International Milk plans to reduce this year's profit by 50-59% compared to last year, and increase debt by the end of 2024.

"Boss" Hoang Quan talks about the challenge of building 40,000 social housing units

Hoang Quan is a unit specializing in investing and trading in social housing projects in the South, having registered to implement 50,000 products in this segment in the period of 2022-2030 to accompany the Government's target of 1 million units.

Mr. Truong Anh Tuan - Chairman of Hoang Quan - said that the company has currently completed 10,000 units, with 40,000 units remaining. The goal by 2030 is to complete the remaining number, which is about 7,000-8,000 units per year, with the development requirement of "fast, many, good, cheap" and integrating a utility ecosystem.

To build these 40,000 apartments, Mr. Tuan said Hoang Quan needs 200 hectares of land, but currently only has 50 hectares. From land fund to legal procedures, construction permits are also a challenge for businesses.

Tycoon Dang Thanh Tam's company suddenly made 20 times more profit.

In the first quarter of the year, Kinh Bac Urban Development Corporation - JSC (stock code: KBC) recorded net revenue of VND3,117 billion, more than 20 times higher than the same period last year, mainly from land and infrastructure leasing activities. Real estate transfer revenue also skyrocketed.

After deducting expenses, this real estate company's after-tax profit was VND849 billion, while in the same period last year it lost nearly VND77 billion.

The company that wanted to buy Mr. Dung's project "Lo Voi" unexpectedly made a profit but had less than half a billion in cash left.

Danh Khoi Group Joint Stock Company (stock code: NRC) unexpectedly made a profit of more than VND 664 million in the first quarter of the year, after consecutive losses in the previous two quarters of 2024. In the whole year of 2024, the company also lost more than VND 137 billion.

Despite the profit, Danh Khoi's profit still decreased by 75% compared to the same period last year.

As of March 31, the company had nearly VND456 million in cash, down VND14 million from the beginning of the year. Most of its short-term and long-term assets were receivables (totaling VND1,625 billion, accounting for 87% of total assets).

Bao Viet has big profits, how to pay the boss?

Bao Viet reported a profit of over VND700 billion in the first quarter of the year. The highest salary belongs to the acting Chairwoman of the Board of Directors, Tran Thi Dieu Hang, at nearly VND90 million/month. The remuneration of some other bosses is over VND17 million/month.

Source: https://dantri.com.vn/kinh-doanh/doanh-nghiep-tuan-qua-nghi-quyet-68-tiep-dong-luc-cho-doanh-nghiep-tu-nhan-20250511071238705.htm