Hanoi (VNA) - Property and retailgiant Vingroup saw sharp increases in its earnings for 2016, according to thecompany’s post-audit combined financial report.
Vingroup said in its financial statement on March 28 that combined net revenuerose nearly 70 percent year on year to 57.6 trillion VND (2.52 billion USD) for2016, and post-tax profit jumped 134 percent to 3.5 trillion VND from 2015’snumber.
The sharp increases in the group’s earnings result from rising revenues acrossall of its brands such as Vinhomes, Vincom Retail and retail store chainVinmart and Vinmart .
Among those segments, property business sales value was nearly 37.3 trillionVND, a yearly increase of 76 percent; sales in hospitality, tourism andentertainment activities hit 4.25 trillion VND, a rise of 49 percent from 2015;and sales growth from other segments varied from 25 percent to 115 percentcompared to the previous year’s figures.
At the end of last year, Vingroup recorded total assets of 180.45 trillion VNDand total equity of 45.26 trillion VND.
In 2016, Vingroup introduced more than 30 real estate projects across thecountry, with major sites located in Hanoi, HCM City and Hai Phong.
The property and retail giant also launched the property brand VinCity, whichtargets middle-income customers. The new property project will be implemented inseven big cities and provinces, including Hanoi, HCM City, Hai Phong and NhaTrang.
In 2016, Vingroup also expanded its market coverage with 32 shopping centres,6,000 hotel rooms and 1,000 retail stores across the country.
In September 2016, Vingroup announced it had transformed Vinmec and Vinschoolunits into social companies, and committed profits from the two businesses tosocial development projects.-VNA
A 660 billion VND (29 million USD) Vinmec international general hospital owned by Vingroup was launched in Ha Long city, the northern province of Quang Ninh on December 6.
The conglomerate VinGroup will sell its entire ownership in the logistics service firm Phat Loc Express and Trading JSC (Phat Loc Express), VinGroup said in a statement.
The property and retail conglomerate Vingroup JSC (Vingroup) has denied information that it plans to sell its supermarket chain VinMart+ to the US convenience store giant 7-Eleven.
The HCM City People’s Committee has given Vingroup Joint Stock Company (Vingroup JSC) the go-ahead to invest in a sports and entertainment complex in District 2’s new Thu Thiem urban area.
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Illustrative image (Source: VinGroup) 
