State-run corporations invest nearly 22.6tr dong in non-core sectors

13-Sep-2011 Intellasia | Vietbiz24 | 7:01 AM Print This Post

Vietnam’s state-owned groups and corporations have recently reported on its investment activities whereby 21 out of 31 enterprises and banks invested some over 22.59 trillion dong in non-core sectors, notably, six of them invested with over one trillion dong each.

Regarding the investment activities, some enterprises reached over 80 percent of their investment plan such as Vietnam National Oil and Gas Group (PetroVietnam-PVN), Vietnam Post and Telecommunications Group (VNPT), Vietnam Railways Corp, Vietnam Maritime Corp and Electricity of Vietnam (EVN).

Some others reached low investment value such as Vietnam Aviation Corp (39 percent), Vietnam Cement Corp (49 percent) and Song Da Group (59 percent).

Particularly, 21 out of 31 state-owned enterprises invested over 22.59 trillion dong in non-core sectors, of which, six of them invested over one trillion dong each.

PetroVietnam posted the biggest non-core investments with 6.69 trillion dong, accounting for 3.76 percent of its chartered capital, Vietnam Rubber Industry Group with 3.7 trillion dong or 19.8 percent of its chartered capital, EVN with 2.1 trillion dong or 2.8 percent of its chartered capital.

These firms mainly invested fields of finance and insurance (13 firms with total investments of 10.7 trillion dong). 13 others invested in securities with a total capital of 1.3 trillion dong.

Eight invested in real estate, industrial zones and construction with over 3.754 trillion dong, of which Vietnam Rubber Industry Group reported the biggest investment with 1.5 trillion dong.

 


Category: Business

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