VOV.VN - Vietnam Report JSC and online newswire VietNamNet co-hosted a ceremony on October 22 in Hanoi in order to unveil the Top 500 most profitable enterprises in Vietnam (Profit500), along with the leading 10 most reputable companies in the food, beverage, retail, and packaging sectors for this year.

A new decree released by the Government will allow State-owned commercial banks to save cash to increase their strength instead of paying dividends to shareholders.

The Vietnam Oil and Gas Group (PetroVietnam) has reported an oil output of 8.64 million tonnes in the first nine months of this year, 9.4% higher than the set target.

Providing a 30% income tax cut to all businesses regardless of scale will not be of much benefit since most are making losses, analysts warn.

The Vietnam Report has just announced the Profit 500 list, featuring the top 500 most profitable enterprises in Vietnam this year.

The pre-tax profit of the banking system in the second half of this year is estimated to fall 22.1% compared to the same period last year due to an increase in provisions for risky loans in the wake of the COVID-19 pandemic.

The Vietnam Oil and Gas Group (PetroVietnam) on September 1 reported an oil equivalent output of 7.76 million tonnes in the first eight months of this year, 8.2% higher than the set target.

Vietjet Aviation Joint Stock Company (HoSE: VJC) recorded lower-than-expected loss of VND1.44 trillion (about US$62 million) for its air transport activities in the first half of 2020.

The Vietnam National Textile and Garment Group (Vinatex) set a goal of achieving VND381.6 trillion (US$16.4 billion) in consolidated pre-tax profit in 2020, during its annual general meeting of shareholders on August 18.

There has been a major reshuffle in profit rankings at the top of the banking industry due to the effects of the pandemic and provisioning for bad debts.