Today: 24/03/2023 07:01:51 (GMT+7)

Vietnamese businesses earn billion-dollar profits in 2022, despite challenges

Despite the global recession in 2022, several Vietnamese firms still recorded strong growth and earned billions of dollars in profits.

In 2022, most businesses faced economic fluctuations and difficulties caused by the impact of the Russia-Ukraine war and high inflation. However, some companies in Vietnam still managed to perform well.

Vietnamese businesses, billion-dollar profits, despite challenges, global recession, strong growth, highest profits

The headquarter of military-run telecom giant Viettel in Hanoi.

The fluctuations in the market brought opportunities for the Vietnam Oil and Gas Group (PVN) to set many records, including the highest profits in 61 years.

Last year, the revenue and consolidated profit of this oil and gas giant shot up to VND931.2 trillion (US$39.5 billion) and VND82.2 trillion ($3.5 billion), respectively.

CEO Le Manh Hung said PVN achieved these gains partly because of the oil price hikes in 2022.

Military-run telecom giant Viettel recorded its highest profit since 2017 with a pre-tax profit of VND43.1 trillion.

Last year, Viettel recorded growth in all areas, including telecommunications, foreign investment, digital transformation technology and high-tech industrial production.

Consolidated revenue of the group increased by 6.1% to VND163 trillion.

In the banking industry, Vietcombank continued to hold the top position in profits earned, with earnings increasing by 40% against 2021 to VND36.77 trillion.

The three remaining banks in the "Big 4" group also experienced strong growth last year, recording profits of nearly US$1 billion, with BIDV’s profit rising 80% to VND22.56 trillion while that of Vietinbank increased 15% to VND20.5 trillion and of Agribank up 40% to VND20 trillion.

PM invites Belgians to up Vietnam business investment
Prime Minister Pham Minh Chinh has called on Belgian businesses to invest more in Vietnam as a politically stable country where win-win partnerships can be formed.
Bac Giang delivers timely assistance to business and labour
(BGO) – Bac Giang province now has 11 difficult businesses due to current inflation and global economic crisis, reported the provincial Confederation of Labour.
PM Chinh calls for international solidarity at ASEAN-EU Business Summit
Prime Minister Pham Minh Chinh has called for promoting international solidarity and multilateralism at the ASEAN – E.U. Business Summit in Belgium.
PM attends Vietnam-Luxembourg business forum
Prime Minister Pham Minh Chinh attended a business forum as part of his visit to Luxembourg on December 9 (local time).
US to help Vietnamese businesses trade globally
The U.S. will help smaller Vietnamese businesses join global markets, said a U.S. trade official who already views the Southeast Asian nation as an integral part of his country’s supply chain.

Source: VnExpress

Vietnamese businesses, billion-dollar profits, despite challenges, global recession, strong growth, highest profits
New comment has just been added. Click here
Sort:NewBest News