PVI climbs up list of 500 most profitable companies

PVI head office in Hà Nội. The non-life insurance company is among the most 500 profitable in Vietnam Report. — VNS Photo

HCM CITY — Leading insurer PVI Insurance Corporation has made it to Profit500 list.

The list, drawn up by Vietnam Report and VietnamNet online newspaper, contains the country’s top 500 companies in terms of profits.

PVI is ranked 75th, a jump of 21 places from last year.

A survey by Vietnam Report in August said 54 per cent of companies saw profits come down in the first half, while 31 per cent suffered major losses.

Seeing the difficulties caused by the COVID-19 pandemic and the global economic and political instability, many Vietnamese companies changed their business strategy in 2020. In the event, nearly 70 per cent of surveyed companies said they achieved 50 per cent of the annual target.

In the first nine months PVI earned profits of VND300 billion (US$13 million) from insurance business, or 116 per cent of the annual target, and leads the insurance market in terms of profits.

The Profit500 list, which is jointly organised by Vietnam Report and VietnamNet online newspaper, aims at honouring companies who are capable of generating healthy profits and contributing to the overall economic development of Việt Nam, thus supporting the promotion of Vietnamese brands both at home and abroad. — VNS

Hà Nội honours 36 key industrial products

Economy

CPTPP, UKVFTA to boost UK – Việt Nam trade relations

Economy

EVN signs contract for national grid power supply project for Côn Đảo

Economy

Canada Brand campaign begins

Economy

Bình Dương takes advantage of opportunities from EVFTA, UKVFTA

Economy

New trade policies of the UK Government to ease Việt Nam's exports

More on this story

Economy

Charity programme mobilised from 12,000 sponsors

The "Cặp lá yêu thương" (A Beloved Couple of Leaves) charity volunteer programme has mobilised VNĐ52 billion (US$216,000) from more than 12,000 sponsors nationwide in the past five years.

Economy

VIB's pre-tax profit surges 52% in Q3

As of September 30, 2020, the bank's total assets reached over VNĐ213 trillion while its credit over VNĐ151 trillion, up 14.2 per cent year-over-year, tripled the industry average, according to the data.

Economy

Hà Nội Gift Show to feature 400 pavilions

Up to 400 pavilions will be set up at the Hà Nội Gift Show 2020, scheduled for October 15-18, heard a press conference held by the Ministry of Industry and Trade late last week.

Economy

Banks to keep profits on new decree

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

Economy

Investors find VN ports, logistics attractive

With its annual growth of 12-14 per cent, the logistics sector, especially seaports, is becoming attractive to both domestic and foreign investors, experts said.

Economy

Tax cut welcome but not enough: businesses

The Government's 30 per cent corporate income tax cut was a step in the right direction but it could have been more inclusive by offering support to small businesses that were in desperate need of cash due to the difficulties caused by the COVID-19 pandemic, said business leaders and industry experts.