The State-owned Vietnam Maritime Corporation (VIMC) plans to earn some 10.8 trillion VND (nearly 469 million USD) in revenue this year and post 944 billion VND in consolidated profit, its shareholders’ meeting in Hanoi on April 22 heard.

The State-owned Vietnam Maritime Corporation (VIMC) plans to earn some 10.8 trillion VND (nearly 469 million USD) in revenue this year and post 944 billion VND in consolidated profit, its shareholders’ meeting in Hanoi on April 22 heard.

In the 2021-2025 period, the company will conduct a number of major projects, such as Terminal 4 and 5 at Hai Phong’s Lach Huyen International Gateway Port, upgrades and expansions to Quy Nhon Port, and the second phase of Da Nang’s Tien Sa Port.

VIMC currently holds dominating stakes in 19 subsidiaries and 16 associates and shares in 16 seaport enterprises, and manages and operates more than 13,000 metres of wharves, including at key ports around the country such as Hai Phong Port, Saigon Port, Da Nang Port, and Quy Nhon Port.

It officially began operations as a joint stock company last September, with more than 1.2 billion shares listed.

It generated over 1.4 trillion VND in pre-tax profit from port services last year and more than 1.7 trillion VND from maritime services, 9.8 percent and 12 percent higher, respectively, than the annual goals, despite being challenged by COVID-19, according to VIMC Director General Nguyen Canh Tinh.

Ending the year, VIMC posted total revenue of nearly 651 billion VND but incurred losses of more than 1.1 trillion VND due to large debts remaining from previous years./.