EVN tops SOE debtor list

The country’s leading power supplier, Electricity of Vietnam Group (EVN), tops the list of loss-making state-owned enterprises (SOE) with massive debts of more than thousands of billion dong, Nguoi Lao Dong newspaper reported.
According to the preliminary business report for the state economic sector in the first eight months of this year issued by the Party organization of centrally-run enterprises, EVN expected a 11.67-trillion dong (US$583.5 million) loss, followed by Vietnam Shipbuilding Industry Group (Vinashin) and Vietnam National Petroleum Corporation (Petrolimex), which posted losses of 3.09 trillion dong and 1.2 trillion dong, respectively.

The report also shows that businesses in the agriculture and oil and gas sectors possess the highest growth rates, while those in the transportation and construction sectors record the lowest.

Vietnam Oil and Gas Corporation (PetroVietnam) tops the list of the best state-run earners, paying its employees an average monthly wage of VND16.2 million.

In the runner-up positions are Vietnam Rubber Association, Vietnam Textile and Apparel Association, Vietnam National Coffee Corporation, and the commercial bank group, whose profit growth rates are between 15 and 20 percent. – Tuoitre

Tags: EVN

Posted by VBN on Sep 14 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry