Vingroup contributes nearly 2.2 billion USD to the state budget in 2024, more than 15 provinces combined, over half from land tax

In 2024, Vingroup contributed nearly 56.163 trillion VND (approximately 2.2 billion USD) to the state budget, an 82% increase compared to 2023. This amount exceeds the total contributions of 15 provinces with the lowest contributions. Over half of this figure, about 28.797 trillion VND, came from land use and rental taxes, increasing 5.8 times compared to the previous year. Other contributions included corporate income tax of 11.833 trillion VND (up 72%), value-added tax of 5.710 trillion VND, and other various taxes totaling 5.999 trillion VND. From 2018 to 2024, Vingroup has contributed nearly 234 trillion VND to the state budget. Vingroup also reported a total revenue of 189.068 trillion VND and a profit of 5.276 trillion VND, increasing by 17% and 157% respectively from the previous year. On the stock market, VIC shares have surged, raising the market capitalization to over 228 trillion VND, indicating Vingroup has re-entered the list of the top three most valuable companies.