Two giant State-owned corporations, Vietnam National Petroleum Group (Petrolimex) and Vietnam Steel Corporation (VNSTEEL), achieved record profits last year, according to a conference held by the Party Organisation of the Central Enterprises Bloc (CEB).
VNSTEEL was estimated to have increased its revenue by 6 per cent to touch 18.3 trillion VND, making pre-tax profit of 600 billion VND, a year-on-year rise of 108 percent.
Hanoi (VNA)꧑ - Two giant State-ownedcorporations, Vietnam National Petroleum Group (Petrolimex) and Vietnam SteelCorporation (VNSTEEL), achieved record profits last year, according to aconference held by the Party Organisation of the CentralEnterprises Bloc (CEB).
Petrolimexearned more than 6.2 trillion VND in profit, reaching 158 percent of its yearlytarget, and a return on equity (ROE) rate of 50 percent. Meanwhile, VNSTEEL wasestimated to increase its revenue by 6 percent to touch 18.3 trillion VND,making pre-tax profit of 600 billion VND, a year-on-year rise of 108 percent. CEBreported that the revenue of its 33 corporations and groups was estimated at 1.429quadrillion VND (63.15 billion USD) last year, 92.8 percent of the previousyear. Of which, over 195 trillion VND was sent to the State budget, equal to 87percent compared with 2015. Earningsof the Vietnam National Oil and Gas Group (PetroVietnam) were reported to havedropped due to decreased oil price. It’s estimated to have reached 440 trillionVND in revenue and 24.2 trillion VND in pre-tax profits in 2016. The group isexpected to send 86 trillion VND to the State budget, 74.7 percent of thefigure in 2015. Althoughthe bloc’s revenue dropped, there were still effective operations of businessesin service areas such as Vietnam Post and Telecommunications Group,Vietcombank, State Capital Investment Corporation, Vietnam Airlines, Petrolimexand VNPost. Speakingat the conference, Chairman of the Party Central Committee’sCommission for Economic Affairs Nguyen Van Binh required the CEB’s staff, Partymembers and workers to resolve the shortcomings of last year, including lowresults of business and production; a number of investment projects wereineffective or incurred big losses; backward technology; and weaknesses incorporate administration, divestment of the State capital and restructuring. Bình saidthe State businesses were a key part of the State economy, playing an importantrole in the country’s development. Therefore, it is necessary to continueaffirming their key role in the State economy, ensuring the most effectiveresults in operation, production and business.-VNA
Vietnam is a safe and attractive destination for all foreign investors and international tourists, stated President Truong Tan Sang at the Vietnam Economy-Tourism Cooperation Forum held in Prague on May 11.
Entrepreneurs running around 100 start-ups will present their products and innovative ideas to convince investors to invest in their businesses at the 2016 Start-up Exchange to be held in HCM City.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
VNSTEEL was estimated to have increased its revenue by 6 per cent to touch 18.3 trillion VND, making pre-tax profit of 600 billion VND, a year-on-year rise of 108 percent. 
