The Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex or VCG) plans to eliminate and amend some business lines to open more room for foreign investors, to 49 percent.
The Vinaconex building on Lang Ha street in Hanoi (Photo: VNA)
Hanoi (VNS/VNA) – The Vietnam Construction and Import-Export JointStock Corporation (Vinaconex or VCG) plans to eliminate and amend some businesslines to open more room for foreign investors, to 49 percent.
The move aims to diversify ownership forms at VCG, increasing liquidity andimproving the attractiveness of VCG shares.
Details of the plan will be released at the company's 2019 annual generalshareholders' meeting to be held on June 28.
The company now has three industries that limit the ownership rate of foreigninvestors at zero percent, which are wholesale of tobacco and rustic tobaccoproducts, supply and management of labour resources and other retail sale ofnew goods in specialised stores.
In 2019, Vinaconex plans to earn consolidated revenue of 10 trillion VND (428.4million USD) and after-tax profit of 743 billion VND, up by 16 percentyear-on-year.
Last year, Vinaconex earned 9.7 trillion VND in revenue, down more than 10 percentcompared to 2017, of which the revenue from industrial production was 886billion VND, down 7 percent compared to the same period of the previous year.
Revenue from commercial services reached 721 billion VND, down 3.4 percent.
Post-tax profit decreased by more than 60 percent compared to 2017, to 639billion VND.
With the results achieved, the company spent more than 530 billion VND to paydividends at a rate of 12 percent. — VNS/VNA
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The Vinaconex building on Lang Ha street in Hanoi (Photo: VNA) 
