A report submitted to the prime minister this week by the Finance Ministry says that 12,455 FDI businesses reported losses last year, although they enjoyed a 13 percent year-on-year increase in revenues to VND847 trillion.

Workers manufacture mechanical components at a factory in the northern Vinh Phuc Province.

The report is a financial analysis of the 2019 performance of 22,603 FDI businesses in Vietnam.

It says 3,545 FDI businesses experienced capital losses last year, accounting for 16 percent of all FDI businesses. Of these, 2,160 still reported increased revenues.

FDI firms in some sectors including metallic production, gas and oil have recorded losses for two consecutive years (2018 and 2019). Meanwhile, their peers in industries like automobiles and motorbike manufacturing, food production, medicine, education, science and technology have reported good profit margins.

Firms from Europe, including countries like Denmark, France, Luxembourg and the Netherlands, have the highest total return on equity, while those making the largest FDI pledges to Vietnam - South Korea, Japan, Taiwan, and British Virgin Islands - have a "reasonable" total return.

Businesses from China and Hong Kong, among the top 10 foreign investors, have recorded low return on equity, while those from Australia, Brunei, Indonesia and Turkey reported losses.

Over VND210.2 trillion has been collected from FDI businesses last year as domestic taxes, excluding crude oil, which is a 13 percent increase compared to 2018, according to the General Department of Taxation under the finance ministry.

However, the report says many businesses are still not very effective at using resources and capital provided through FDI, and issues like tax evasion and transfer pricing still exist, causing losses to the state budget.

Nguyen Thi Kieu Anh adds more flavours to Chu rice noodle

(BGO)- When I was talking to Director of Dau Anh Chu rice Noodle Cooperative Nguyen Thi Kieu Anh (born in 1986) in Canh village, Nam Duong commune, Luc Ngan district, her phone continuously rang. Our talk was interrupted by her customers’ phone call to order the products.

Việt Nam in top five markets globally for cost efficiency

The US, New Zealand and Canada are the most attractive countries for employer investment based on 200 factors that evaluated skills availability, cost efficiency, regulation and productivity, while Việt Nam is among the top five in cost efficiency, according to ManpowerGroup Talent Solutions’ Total Workforce Index (TWI).

Source: VnExpress