Revenue of 19 State groups, corporations accounts for 20% of 2022 GDP
The total consolidated revenue of 19 State-owned economic groups and corporations hit 1.871 quadrillion VND (77.9 billion USD) last year, or 20% of the country’s gross domestic product (GDP), up 0.6% from 2018, heard a workshop in Hanoi on September 26.
The total consolidated revenue of 19 State-owned economic groups and corporations hits 1.871 quadrillion VND (77.9 billion USD) last year. (Photo: VNA)
Hanoi (VNA) – The total consolidated revenue of 19 State-owned economic groups and corpor꧃ations hit 1.871 quadrillion VND (77.9 billion USD) last year, or 20% of the country’s gross domestic product (GDP), up 0.6% from 2018, heard a workshop in Hanoi on September 26.
The event was co-hosted by the Vietnam Investment Review and the Commission for Management of State Capital at Enterprises (CMSC) on the occasion of the fifth anniversary of the CMSC. Compared to 2018 when the management of those groups and corporations was transferred to the CMSC, their total consolidated owners' capital hiked from 1.056 quadrillion VND to 1.155 quadrillion by the end of 2022 while the total consolidated equity also increased from 2.360 quadrillion VND to 2.491 quadrillion VND. The annual production and business indicators achieved consistent growth, said head of the CMSC’s General Department Pham Van Son. Speaking at the event, CMSC Deputy Chairman Ho Sy Hung said after five years since its establishment, the CMSC has fulfilled its tasks, mission and responsibilities as the owner's representative agency at the 19 major SOEs. It has actively and proactively worked with State management agencies to address investment difficulties, manage and use State capital and assets, handle land issues and carry out equitisation and State capital divestment. During 2018-2023, the CMSC actively directed and worked with State groups and corporations to deploy investment plans, with a total estimated value of nearly 700 trillion VND. Deputy head of the Enterprise Development Department at the Ministry of Planning and Investment Nguyen Duc Trung said the total revenue of all State-owned enterprises is estimated to reach 1.4 quadrillion VND this year, up 4% compared to the set plan. Their pre-tax profit is estimated at over 117.3 quadrillion VND, marking a 9% increase from target.
The total taxes and other State budget contributions from the sector are forecast to reach nearly 129 trillion VND this year, up 7% from the plan./.
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The total consolidated revenue of 19 State-owned economic groups and corporations hits 1.871 quadrillion VND (77.9 billion USD) last year. (Photo: VNA) 
