VIMID as the TOP 9 Private enterprises with the highest State budget contribution in the Distribution–Retail Sector

According to a recent report published by CafeF, Vietnam Machine Investment Development Joint Stock Company (VIMID – stock code: VVS) has been honored among the Top 9 private enterprises with the largest state budget contributions in the distribution–retail sector for 2023. This recognition places VIMID alongside major corporations such as Masan Group, PNJ, DOJI, Mobile World (Thế Giới Di Động), FPT Retail, Digiworld, Petrosetco, and Tasco.

TOP 9 Private enterprises with the highest State budget contribution in the Distribution–Retail Sector

Contributing to the state budget is one of the key indicators used to assess a company’s contribution to national development. Recognizing this, CafeF compiled the TOP PRIVATE 100 list — an annual ranking that honors private enterprises across Vietnam with state tax payments exceeding 100 billion VND.

From this comprehensive list, CafeF further categorized companies by industry sectors and highlighted the Top 100 private enterprises with the highest state budget contributions. Within this ranking, Vietnam Machine Investment Development Joint Stock Company (VIMID) proudly secured its place among the Top 9 private enterprises in the distribution–retail sector, standing shoulder to shoulder with some of Vietnam’s most prominent corporations including Masan Group, PNJ, DOJI, Mobile World, FPT Retail, Digiworld, Petrosetco, and Tasco.

VIMID – One of the Top 9 Private Enterprises with the Highest State Budget Contribution in the Distribution–Retail Sector

Source: CafeF

In 2023, these nine enterprises collectively contributed over VND 10.6 trillion to the State budget. Among them, the Vietnam Machine Investment Development Joint Stock Company (stock code: VVS) made a significant contribution of several trillion VND to the State budget in 2023 and the first half of 2024. According to VIMID’s Q1 & Q2/2024 financial reports, aside from contributing over VND 330 billion to the State budget, the company recorded accumulated revenue of VND 1,849 billion in the first two quarters of 2024. Its pre-tax profit showed a sharp increase, reaching over VND 25.8 billion. During the same period, post-tax profit totaled VND 20.6 billion, equivalent to over 61% of the annual revenue target and more than 92% of the annual pre-tax profit target for 2024.

VIMID’s Board of Directors attributed this strong growth in profit during Q1 and Q2/2024 primarily to a rise in sales revenue, driven by the acceleration of public investment disbursement and the resumption of major logistics and infrastructure projects nationwide. These developments have fueled the demand for new commercial vehicles among logistics businesses and project contractors. Additionally, the company’s effective reduction of financial expenses has also contributed significantly to VIMID’s outstanding growth momentum in the first half of 2024.

VIMID’s Commitments for present and future

For more than a decade of establishment and growth, Vietnam Machine Investment Development Joint Stock Company (VIMID – stock code: VVS) has continuously strived to expand its business operations, create stable jobs and income for hundreds of employees, and make positive contributions to the community and society. In addition, VIMID has consistently maintained transparency in its operations, openly reporting its revenue and contributing thousands of billions of VND to the State budget.

For more than a decade of establishment and growth, Vietnam Machine Investment Development Joint Stock Company (VIMID – stock code: VVS) has continuously strived to expand its business operations, create stable jobs and income for hundreds of employees, and make positive contributions to the community and society. In addition, VIMID has consistently maintained transparency in its operations, openly reporting its revenue and contributing thousands of billions of VND to the State budget.

Mr. Nguyen Vu Tru, CEO of VIMID, shared: “With transparency, integrity, and a strong commitment to legal compliance in all production and business activities, as well as in fulfilling our obligations and responsibilities to the community, VIMID is not only an efficient and responsible enterprise but also a trusted partner of customers, business associates, shareholders, employees, and the broader community. We take great pride in contributing to the country’s overall development through practical actions — from fulfilling our tax obligations to actively participating in community and social welfare initiatives.”

VIMID’s ongoing commitment to compliance, transparency, and community development

Looking ahead, VIMID will continue to expand its business operations, broaden its market presence, and enhance service quality to ensure the success of its customers. The company remains dedicated to contributing to the nation’s socio-economic growth through strict compliance with the law, responsible tax contributions, and active participation in social and community initiatives.

With a vision for sustainable development, VIMID aims to:

• Become the No.1 distributor of medium and heavy-duty trucks in Vietnam and rank among the Top 3 truck distributors nationwide in the 2021–2025 period;

• From 2026 to 2030, evolve into a leading industrial truck corporation, pioneering the application of artificial intelligence, robotics, and clean energy in Vietnam and across the region.