According to Plan 141/KH/BCĐTKNQ18, 19 state-owned corporations and groups will be transferred to ministries and industry management when the State Capital Management Committee at Enterprises (CMSC) ceases its operations.
SCIC records highest profit since its establishment
The State Capital Investment Corporation (SCIC) has exceeded its 2024 business plan and achieved positive, comprehensive results in all aspects of its operations.
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| In 2024, SCIC's contribution to the state budget is estimated at VND 11,117 billion, equal to 167% of the annual plan. |
Specifically, total accumulated revenue is estimated at VND 10,447 billion, equal to 118% of the 2024 plan and 151% over the same period in 2023.
Of which, dividend revenue is estimated at VND 8,977 billion, equal to 156% of the 2024 plan; financial revenue is estimated at VND 1,026 billion, equal to 110% of the 2024 plan; SCIC completed the sale of capital at 6 enterprises, recording revenue of VND 435 billion.
Pre-tax profit is estimated at VND 11,140 billion, equal to 166% of the 2024 plan. After-tax profit is estimated at VND 10,707 billion, equal to 164% of the 2024 plan and 167% compared to the same period in 2023. State budget contribution is estimated at VND 11,117 billion, equal to 167% of the yearly plan.
This is also the highest profit that the Corporation has achieved since its establishment, contributing to the completion of 5/6 targets of revenue, profit, payment to the state budget, return on equity (ROE), and return on assets (ROA) in accordance with the Production, Business and Investment Development Plan for the period 2021 - 2025.
Regarding the work of receiving the right to represent the state capital ownership at enterprises, in 2024, SCIC received the right to represent the state ownership at Quang Nam Electricity Construction Joint Stock Company with state capital of VND 5.4 billion on a charter capital of VND 27 billion.
Currently, SCIC is focusing on implementing governance and restructuring work at large-scale and complex corporations and groups such as Vietnam Steel Corporation (VNS), Phase 2 Production Expansion Project (Tisco 2 Project) of Thai Nguyen Iron and Steel Joint Stock Company (Tisco), Viet Trung Minerals and Metallurgy Company Limited (VTM), Vietnam Textile and Garment Group (Vinatex), Vietnam Airlines Corporation ( Vietnam Airlines )...
Ending 4 consecutive years of losses, Vietnam Airlines estimates record profit of more than 7,300 billion VND
Vietnam Airlines Corporation's consolidated revenue is estimated at VND114,741 billion in 2024, up 23% year-on-year. Notably, the airline recorded a pre-tax profit of VND7,324 billion - the highest level in history and marking the end of four consecutive years of losses.
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| Vietnam Airlines sets revenue target of VND95,600 billion in 2025 |
Last year, the airline transported 22.7 million passengers, up 8% compared to 2023. Notably, the cargo transport segment reached 314,700 tons, a sharp increase of 40% over the same period.
Entering 2025, Vietnam Airlines set a more cautious target with a revenue plan of VND95,600 billion and pre-tax profit of VND2,176 billion, down 17% and 70% respectively compared to the 2024 estimate. The airline plans to transport 25.4 million passengers and 336,300 tons of cargo.
Recently, the National Assembly approved a plan to increase capital by VND22,000 billion for Vietnam Airlines, divided into two phases. In the first phase, SCIC will represent the Government to buy VND9,000 billion worth of shares. In the second phase, the maximum scale is VND13,000 billion, with the State transferring the right to buy shares to the enterprise.
To discuss this plan, Vietnam Airlines will hold an extraordinary meeting on January 21, 2025.
Pacific Airlines – a subsidiary of Vietnam Airlines – also received support when its late tax payment penalty was eliminated until the end of 2024. However, from 2025, this low-cost airline will have to strictly comply with tax regulations.
The State Audit will closely monitor the management and use of capital at Vietnam Airlines in the 2024-2025 period.
PVN surpasses 1 quadrillion VND in revenue
Vietnam Oil and Gas Group (PVN) has just announced its estimated figures for 2024. Accordingly, PVN has broken the Group's revenue record for the third consecutive year, surpassing the 1 million billion VND mark in 2024.
According to Mr. Le Ngoc Son, General Director of PVN, the production and business activities of the entire Group in 2024 will remain stable. The results achieved are comprehensive in all key indicators such as gasoline, electricity, fertilizer production, etc., all of which have grown quite well compared to the same period in 2023.
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| PVN's financial targets were all completed exceeding the 2024 plan by 34% to 3.4 times. |
Mr. Son said that PVN's key production targets were all completed and exceeded the annual plan by 6-24%, reaching the target 22 days to over 80 days ahead of schedule. Compared to 2023, PVN has 4 key production targets that have increased, including: Urea production increased by 4.6%; electricity production increased by 25.8%; gasoline production (including Nghi Son Refinery and Petrochemical Plant - NSRP) increased by 6.7%; NPK production increased by 19.5%.
Financial targets were also completed by 34% to 3.4 times the annual plan, reaching the target 3-7 months ahead of schedule and growing strongly compared to 2023. In particular, the Group's revenue in 2024 exceeded 1 million billion VND, up 36% compared to the pre-COVID-19 period, and 6% higher than the previous year, while consolidated revenue also grew by 9%. The figure of 1 million billion VND is equivalent to 9% of the country's GDP. The budget contribution target also increased by 9%.
PVN has also entered the offshore wind power industry, participating in the global energy chain, opening up new development space in 2024.
As of November 30, 2024, PVN has contributed capital in 27 enterprises (including 2 units which are LLCs with 100% charter capital owned by the Group; 12 joint stock companies with controlling capital contribution; 13 joint ventures and associates), 14 affiliated units, and 18 specialized departments. The management of these enterprises is mainly carried out through 259 managers.
VNPT's total revenue in 2024 is estimated at 58,540 billion VND
Vietnam Posts and Telecommunications Group (VNPT) estimates total revenue for the year at VND58,540 billion, of which parent company revenue is VND41,995 billion.
In the context of difficult challenges, VNPT will continue to strengthen the capacity of telecommunications and information technology infrastructure in the direction of updating new technologies such as artificial intelligence (AI), IoT, Cloud, 5G... and especially information security.
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| VNPT has officially announced the provision of VinaPhone 5G service, operating on the 3,700 - 3,800 MHz band. |
By 2024, VNPT's international Internet connection capacity will increase by 20%, VNPT's trunk and inter-provincial transmission network will increase by 20%, and fiber optic Internet will reach 100% of communes, wards and 96% of villages and hamlets nationwide.
In addition to continuing to improve the capacity of the 4G network, VNPT has officially launched the VinaPhone 5G service. To date, Vinaphone 5G has been present in 63 provinces and cities nationwide.
In 2024, VNPT has been looking for new products, promoting revenue sources from new growth areas. The information security sector grew by 58% over the same period; the artificial intelligence sector increased by 60%. With the drastic implementation of the 2G subscriber conversion program, VNPT is also the network operator with the fewest remaining 2G subscribers, with a subscriber conversion rate of 94%.
Within the framework of the 2025 Plan Implementation Conference, VNPT officially announced the provision of VinaPhone 5G service, operating on the 3,700 - 3,800 MHz frequency band. With the advantage of large bandwidth and low latency, VinaPhone 5G brings the fastest internet speed in Vietnam, the actual commercial speed can be up to 1.5 Gbps, 10-20 times faster than 4G.
Vietnam Rubber Industry Group earns more than 3,700 billion VND in profit
Mr. Le Thanh Hung, General Director of VRG, said that despite many difficulties, in 2024, Vietnam Rubber Industry Group (VRG) will continue to develop stably, sustainably, preserving and developing state capital.
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| VRG has 81,000 employees, with an average income of over 11 million VND/person/month in 2024. |
VRG has exceeded production and business targets compared to the assigned plan, maintaining jobs and stable income for over 81,000 employees, with an average income of over 11 million VND/person/month.
Accordingly, VRG's consolidated revenue for the whole year of 2024 is estimated at VND 26,307 billion, equal to 105.2% of the plan and up 6.5% over the previous year. Consolidated profit after tax is estimated at VND 3,746 billion, equal to 109% of the plan and 11% higher than in 2023. The Group's expected budget contribution in 2024 is VND 6,100 billion, 54% higher than the plan.
In 2024, VRG has pioneered and been a typical example in green growth and sustainable development of the rubber industry. The Group is promoting an inclusive and circular green transformation process, ensuring sustainability throughout the entire supply chain, joining hands for the environment, being friendly and actively contributing to society and the community.
VRG has 34 member companies developing sustainable forest management plans for a total area of 286,901 hectares; of which, 18 companies have been granted Sustainable Forest Management Certificates according to VFCS/PEFC with an area of 215,624 hectares. Of which, 17 companies have been granted Sustainable Forest Management Certificates according to VFCS/PEFC-FM standards for a total area of approximately 120,610 hectares of rubber. 38 natural rubber processing factories, wood processing factories and rubber industrial products have achieved PEFC-CoC on the product chain of custody.
TKV's profit targets exceed plan
In 2024, Vietnam National Coal - Mineral Industries Group (TKV) continued to implement synchronous, flexible and drastic solutions.
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| Revenue in 2024 of the Vietnam National Coal - Mineral Industries Group is estimated to reach 167.23 trillion VND |
The results of implementing most of the targets on production output, consumption, revenue; especially the targets on profit, salary and employee benefits, financial targets were all completed and exceeded the plan.
Total revenue of the Group is estimated at 167.23 trillion VND; State budget contribution is over 25.5 trillion VND; average salary of the Group is estimated at 17.5 million VND/person/month, equal to 106.6% of the plan. Of which, coal production is 18.4 million VND/person/month, equal to 107.9% of the plan.
In the 2025 plan, TKV strives to produce over 3.8 million tons of imported coal; consume 50 million tons; import 13.2 million tons; total revenue of 172,795 billion VND; profit of over 3.4 trillion VND; average salary of over 17.5 million VND/person/month.
MobiFone exceeds plan for both profit and budget payment
The two most important targets for 2024, profit and payment to the state budget, have been completed by MobiFone Telecommunications Corporation beyond the assigned plan.
Of which, pre-tax profit is estimated to exceed 20.1% of the plan, and state budget payment exceeds 56.7% of the assigned plan.
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| The most prominent mark of MobiFone Telecommunications Corporation in 2024 is the decision to upgrade and convert to 5G technology. |
Both of the above indicators have grown compared to the same period in 2023, demonstrating the Corporation's tireless efforts in stopping the downward trend, gradually recovering and growing in the context of a difficult market.
MobiFone's digital services sector also witnessed strong growth in many products and services. Notable among them were the MobiFone Meet platform which grew by 1050%, Cloud services which grew by 312%, mobiAgri services which grew by 49% and MobiFone invoice which grew by 58%.
The most prominent mark of MobiFone Telecommunications Corporation in 2024 is the decision to upgrade and convert to 5G technology.
Currently, MobiFone has completed the overall plan for 5G technology upgrade conversion, including business - technical - investment - communication - human resources and training plans.
The Group is implementing investment procedures to broadcast more than 3,100 5G stations to ensure 5G coverage in key markets and ensure the provision of 5G network services in 63 provinces and cities. At the same time, MobiFone is also implementing a roadmap to turn off 2G waves and move subscribers to 3G/4G networks. Up to now, MobiFone has turned off more than 10,000 2G stations, accounting for nearly 50% of the 2G stations on the network.
ACV to achieve revenue of over VND 21,000 billion in 2024
In 2024, the Airports Corporation of Vietnam (ACV) said that the total number of passengers passing through ACV's affiliated airports reached 109 million, of which 41 million were international passengers and 68 million were domestic passengers. The total number of parcels passing through the ports was 1,505 thousand tons. The total number of take-offs and landings was 663 thousand.
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| ACV's total revenue in 2024 will reach VND 21,466 billion, equivalent to 106% of the year's plan. |
ACV's total revenue in 2024 is expected to reach VND21,466 billion, equivalent to 106% of the annual plan, up 8% compared to 2023. Pre-tax profit is estimated at VND11,981 billion, equivalent to 128% of the annual plan, up 35% compared to 2023.
Financial indicators are maintained healthy, ensuring growth and development of State equity at ACV. State budget contribution reached 4,489 billion VND.
Regarding the implementation of the task of investing in developing airport infrastructure, for Component Project 3 - Long Thanh International Airport, the progress of project items is closely following the direction of the Government. It is expected that the entire rough construction site will be completed in 2025.
In 2024, ACV signed a contract with Incheon Airport Joint Venture to provide the service of “Consulting on management and operation of Long Thanh International Airport”. This is an important step contributing to ensuring the goal of preparing and being ready to transfer operations, making Long Thanh International Airport operate smoothly and safely from the first day of operation.
The project to build Passenger Terminal T3 - Tan Son Nhat International Airport is being determined by ACV and other units to strive to bring the project to completion on April 30, 2025 (2 months shorter than the contract), celebrating the 50th anniversary of the liberation of the South and national reunification.
ACV is continuing to implement investment preparation steps for key projects in the transport sector such as: Passenger Terminal T2 Project - Cat Bi International Airport; Passenger Terminal T2 Construction Project - Dong Hoi Airport; Ca Mau Airport Expansion and Upgrade Project which has been approved by the Prime Minister for investment policy.
(1) State Capital Investment Corporation;
(2) Vietnam Oil and Gas Group;
(3) Vietnam Electricity Group;
(4) Vietnam National Petroleum Group;
(5) Vietnam Chemical Group;
(6) Vietnam Rubber Industry Group;
(7) Vietnam National Coal and Mineral Industries Group;
(8) Vietnam Posts and Telecommunications Group;
(9) MobiFone Telecommunications Corporation;
(10) Vietnam Tobacco Corporation;
(11) Vietnam Airlines Corporation;
(12) Vietnam National Shipping Lines;
(13) Vietnam Railway Corporation;
(14) Vietnam Expressway Development Investment Corporation;
(15) Vietnam Airports Corporation;
(16) Vietnam Coffee Corporation;
(17) Southern Food Corporation;
(18) Northern Food Corporation;
(19) Vietnam Forestry Corporation;
Source: https://baodautu.vn/vietnam-airlines-vnpt-tkv-pvn-truoc-thoi-diem-chia-tay-cmsc-d236287.html
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