VIETNAM MULTIMEDIA CORPORATION

VIETNAM MULTIMEDIA CORPORATION (VTC), officially registered under Business ID 0100110006, is a state-owned one-member limited liability company established on 10 January 2011 and registered with the Ha Noi Department of Planning and Investment.

Headquartered at No. 67B, Ham Long Street, Hoan Kiem District, Ha Noi, VTC operates under 100% ownership of the Ministry of Information and Communications, as shown in the shareholder section of the report. The corporation employs approximately 700 staff and plays a strategic role in Vietnam’s television broadcasting and digital media landscape.

Leadership and Governance

The corporation is chaired by Luu V. H., with Nguyen N. B. serving as Acting General Director and Duong T. L. as Deputy General Director. As a state-owned enterprise (SOE), VTC operates within the regulatory and strategic framework of Vietnam’s national communication policy.

Financial Performance Overview

In 2024, VTC reported:

• Total Assets: USD 43.9 million

• Total Sales: USD 68.27 million (▲ 9.37% YoY)

• Profit: USD 1.05 million (▲ 12.05% YoY)

• Owner’s Equity: USD 10.63 million (unchanged YoY)

• Working Capital: USD 2.05 million (▼ 11.72% YoY)

Revenue rebounded strongly in 2024 after a decline in 2023, while profit continued to improve steadily for two consecutive years. Although profit margins remain relatively modest for a media corporation of this size, earnings show consistent upward momentum.

A notable structural observation is that equity has remained unchanged for two consecutive years, suggesting capital stability but limited reinvestment growth. Meanwhile, working capital declined, indicating tighter short-term liquidity compared to previous periods.

Strategic Position

VTC operates across a wide range of media and digital services, including television broadcasting, online entertainment, e-pay, e-commerce, telecommunications, and content production. This diversified model positions the corporation as a key player in Vietnam’s evolving digital ecosystem.

Despite being state-owned, the company demonstrates commercial revenue generation and positive profit growth, which distinguishes it from many traditional SOEs that struggle with profitability.

Overall Assessment

VIETNAM MULTIMEDIA CORPORATION remains financially stable, legally active, and strategically important within Vietnam’s communication infrastructure. While profitability is improving, margin strength and liquidity management remain areas to monitor.

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