SCIC reports $286 million in pre-tax profit for 2020

January 16, 2021 - 07:49

The State Capital Investment Corporation (SCIC) announced on Thursday that its pre-tax profit increased 36 per cent in 2020 compared to the year prior, hitting an estimated VNĐ6.58 trillion (around US$286 million).

SCIC posted revenue of over VNĐ7.94 trillion, up 15 per cent. — Photo economy.vn

HÀ NỘI — The State Capital Investment Corporation (SCIC) announced on Thursday that its pre-tax profit increased 36 per cent in 2020 compared to the year prior, hitting an estimated VNĐ6.58 trillion (around US$286 million).

The corporation posted revenue of more than VNĐ7.94 trillion, up 15 per cent.

It contributed some VNĐ9.33 trillion to the State budget, 2.7 times higher than the annual plan.

General Director Nguyễn Chí Thanh revealed the goals set by the corporation for 2021, saying it will prioritise investment in a number of key sectors, fields, and projects.

The divestment of State capital in the SCIC’s enterprises was implemented in line with legal regulations, ensuring publicity and transparency, achieving high efficiency, and preserving and developing State capital, Thanh said.

It sold stakes in 253 companies in 2015-2020 and part of shares in 14 others, collecting more than VNĐ42.1 trillion.

Its investment disbursement has totalled VNĐ14.97 trillion over the last five years. — VNS

Việt Nam, China ink protocol on railway transport cooperation

Economy

133 enterprises honoured with National Quality Awards 2021-2023

Economy

PM orders swift resolution of challenges for renewable energy projects

Economy

Việt Nam’s growth prospects remain resilient amid global challenges: forum

Economy

1,200 apartments in two projects in Hà Nội open for purchase by foreign nationals

Economy

Market declines for the third consecutive session

More on this story

Economy

KIDO Foods’ profit jumps 10 per cent

Kido Frozen Foods Joint Stock Company (Kido Foods) has announced a growth of nearly 10 per cent in after-tax profit for 2020, reaching nearly VNĐ157 billion (US$6.8 million) despite facing many challenges caused by COVID-19.

Economy

Industrial real estate is bright spot in 2020 market

The industrial market is the only real estate sector that has enjoyed positive progress in both rental rates and occupancy rates during the COVID-19 pandemic.

Economy

Agricultural exports set to join more global value chains as new FTAs take effect

Vietnamese farm produce exporters are expected to benefit from increased participation in global value chains as a result of the Regional Comprehensive Economic Partnership (RCEP) and the UK-Việt Nam Free Trade Agreement (UKVFTA), speakers said yesterday at a conference in HCM City.

Economy

Vietnamese food producers should embrace changing trends to survive

The HCM City Department of Industry and Trade held a conference on Thursday to review the activities and performance of the food and foodstuff sector in 2020 and consider plans for the new year.

Economy

Market edges higher on the back of large-cap stocks

Việt Nam's stock market rose on Friday as investors still focused on banking and real estate sectors.

Economy

Export turnover via An Giang’s border gates hits US$1.31 billion in 2020

Export turnover through border gates in the Mekong Delta province of An Giang exceeded US$1.31 billion in 2020, a year-on-year increase of 8 per cent, according to the provincial Department of Customs.

Economy

Việt Nam exports 1.37 billion medical masks in 2020

Domestic firms shipped over 1.37 billion medical face masks of various types abroad throughout 2020, according to statics compiled by the General Department of Việt Nam Customs.

Economy

Bắc Ninh rolls out red carpet for South Korean firms

The authorities of northern Bắc Ninh Province always create favourable conditions for foreign businesses, including those from the Republic of Korea (RoK), Secretary of the provincial Party Committee Đào Hồng Lan has said.