The Government has just sent the National Assembly a report on investment, management and use of state capital in enterprises nationwide in 2023.

In this report, the Government reported on the financial situation and production and business performance in 2023 of 671 State-owned enterprises (473 enterprises in which the State holds 100% of charter capital and 198 enterprises in which the State holds more than 50% of charter capital) as of December 31, 2023. These enterprises hold total assets of nearly 3.9 million billion VND.

The results show that pre-tax profit in 2023 reached VND 211,198 billion, down 13% compared to 2022.

These enterprises have a debt of more than 2 million billion VND, an increase of 2% compared to the beginning of 2023. Of which, short-term debt accounts for 57% of the total debt of state-owned enterprises.

The report shows that hundreds of state-owned enterprises are making losses. Specifically, 72/671 (accounting for 11% of the total number of state-owned enterprises) still incurred losses during the year, with a total loss of VND33,703 billion.

In addition, 134/671 (accounting for 20% of the total number of state-owned enterprises) still have accumulated losses, with a total accumulated loss of VND 115,270 billion.

“Examining” the operations of 78 corporations, general companies, parent-subsidiary companies with 100% state-owned charter capital , with total assets of up to 2.87 million billion VND, the Government’s report noted: Pre-tax profits of enterprises were over 153 trillion VND. Enterprises with pre-tax profits of over 5,000 billion VND were mainly large-scale enterprises.

However, there are still 18 corporations, general companies, parent-subsidiary companies with accumulated losses of 60,394 billion VND and 8 parent companies with accumulated losses of 54,341 billion VND.

In addition, the loss incurred according to the consolidated reports of 5 corporations, general companies, and parent-subsidiary companies is 26,958 billion VND; the loss incurred according to the reports of 3 parent companies is 23,533 billion VND.

“8/78 parent companies were identified as failing to preserve equity (after setting aside provisions as prescribed, the business results of the enterprise were at a loss, including cases of accumulated losses).

Total amounts payable to the State budget reached VND 250,781 billion, down 7% compared to 2022.

Enterprises with large tax and other payments to the State budget include: PVN (VND 87,751 billion); Viettel (VND 37,764 billion); Vinacomin (VND 24,744 billion); EVN (VND 23,467 billion); Vietnam Tobacco Corporation (VND 16,949 billion)...

Meanwhile, data from 198 enterprises in which the State holds more than 50% of charter capital shows that there are 2 parent companies with negative equity: Parent company - Construction Mechanical Corporation; Parent company - Vietnam Airlines Corporation.

Of the 198 enterprises in this category, 31/198 enterprises (accounting for 15.6%) incurred a total loss of VND 6,610 billion. The parent company - Vietnam Airlines Corporation alone incurred a loss of VND 4,789 billion.

In addition, there are 45/198 enterprises (accounting for 23%) with a total accumulated loss of VND 52,766 billion. In terms of parent companies alone, there are 3 parent companies with accumulated losses worth VND 35,471 billion.