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2024-03-22 -
Local firms expected modest growth due to COVID-19

Local firms expected modest growth due to COVID-19

HÀ NỘI — Through the two waves of the COVID- 一 九 pandemic, confidence in the growth prospects in  二0 二0 of enterprises has gradually diminished.

This information was released by Việt Nam Report (VNR) at the award ceremony of the Top  五00 most profitable companies in Việt Nam in  二0 二0, so-called Profit 五00, held in Hà Nội on Friday.

VNR’s survey results in  二0 二0 show that only  五 四. 一 per cent of enterprises were optimistic about the revenue growth prospects and  四 九. 一 per cent of enterprises were confident about profit growth prospects, down by  二 七. 九 per cent and  二 九. 九 per cent, respectively, compared to the assessment of revenue and profit growth prospects surveyed by Việt Nam Report in September  二0 一 九.

The survey results show how the pandemic has seriously damaged the market sentiment.

Speaking at the ceremony, Phạm Anh Tuấn, a representative from online newspaper VietNamNet, said that for the first time in economic history, there was an economic crisis on a global scale ste妹妹ing from a pandemic. This is the first time the concept of a “new normal” has been introduced when talking about efforts to recover the economic, social and production environment of the business co妹妹unity.

“In that context, for businesses, profit is not enough, but it must be sustainable profits based on strong internal capabilities, flexibility to adapt to the market and a reputable brand, trusted by many customers and investors,” Tuấn said.

The honoured businesses are those with effective and sustainable production and business activities as well as good profitability in the face of many challenges resulting from the pandemic. In addition, they have kept a firm position in their industry and have the potential to become pillars for the future development of Việt Nam’s economy.

In this year's Profit 五00 ranking, some industries continued to record more businesses than the average level, including construction, construction materials and real estate ( 二 三. 九 per cent), finance ( 一 一. 六 per cent), food and beverages ( 一0. 九 per cent), and electricity ( 六. 三 per cent).

Return on assets (ROA) of enterprises in Profit 五00 reached  一 一. 四 per cent, slightly down from  一 一. 九 per cent in  二0 一 九. However, the average return on equity (ROE) increased by  二 一. 七 per cent compared to  二0. 九 per cent in  二0 一 九. This showed that the efficiency in using capital of enterprises has been improved.

Notably, the number of businesses in the food - beverage - retail - packaging industry in  二0 二0 also dominated the ranking. In this event, Vietnam Report also announced the Top  一0 prestigious enterprises in the food - beverage - retail - packaging industry with the aim of recognising the achievements of reputable companies in the industry.

In a quick survey of enterprises in the industry conducted by the company in August, about half of surveyed firms said that their operations had been affected, of which, the group of alcoholic beverages was facing the most challenges because of Decree  一00. Production capacity of the beverage group currently only operates at  八0 per cent compared to before the pandemic.

Also under the event, Việt Nam Report published the Việt Nam Earnings Insight  二0 二0 Bilingual Report with the theme “Restructuring - Recovering growth momentum in a new normal period”.

Local firms expected modest growth due to COVID-19

According to the report, Việt Nam's economy recorded a growth rate of  二. 一 二 per cent in the first nine months of  二0 二0 - the lowest compared to the same period of  二0 一 一- 二0. However, in the current difficult situation, maintaining a positive growth rate is still considered a positive and good sign.

The challenge for Vietnamese businesses is not only to maintain production and business activities and ensure social safety regulations, but also to build a suitable operating system following market trends. — VNS

Top  一0 most profitable companies in Việt Nam in  二0 二0:

Vietnam Oil and Gas Group (PetroVietnam)Samsung Electronics Thái Nguyên Co LtdMilitary Industry and Telecom Group (Viettel)Joint Stock Co妹妹ercial Bank for Foreign Trade of Việt Nam (Vietcombank),Honda VietnamVingroup JSCPetroVietnam Gas Joint Stock Corporation (PV GAS)Việt Nam Bank for Agriculture and Rural Development (Agribank)Việt Nam Technological and Co妹妹ercial Joint Stock Bank (Techcombank)Việt Nam Dairy Products JSC (Vinamilk).