Majority of groups, corporations fulfil 2019 targets

A majority of groups and corporations fulfilled 2019 targets assigned by the Committee for Management of State Capital at Enterprises (CMSC), heard a conference in Hanoi on January 16.

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At the event (Photo: VNA)

CMSC Vice Chairman Ho Sy Hung said the total revenue of 19 groups and corporations surpassed 1.48 quadrillion VND (64.2 billion USD) in 2019, up 6.4 percent year-on-year. Their before-tax profit went up 28 percent to over 99.8 trillion VND.

Their revenue to the State budget surpassed 221 trillion VND, up 17.6 percent from 2018.

The CMSC pointed out that several works are less efficient, causing losses of State capital and assets, while restructuring, equitisation and divestment in State-owned enterprises (SOEs) remain slow.

Speaking at the event, Prime Minister Nguyen Xuan Phuc asked the enterprises to perform better in terms of revenue and governance, as well as promptly deal with existing difficulties.

CMSC Nguyen Hoang Anh said the committee will continue suggesting amendments and supplements to laws to facilitate restructuring, equitisation and divestment; strengthen managerial staff and representatives of State capital at SOEs, as well as rotate and deploy qualified personnel between the CMSC and SOEs.

VNA