On 19/8, CafeF announced the state budget contributions of the top 10 private enterprises in the retail distribution sector for 2024. The total contribution exceeded 12,000 billion VND, with PNJ alone contributing over 2,100 billion VND. Last year, PNJ recorded net revenue of 37,823 billion VND and a profit after tax of 2,113 billion VND, representing increases of 14.1% and 7.2% respectively compared to 2023.
Previously, CafeF announced PNJ's inclusion in the top 30 of the Private 100 ranking (Vietnam's largest taxpayers among private enterprises in 2024). PNJ is the only jewelry retailer on this list.
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PNJ is recognized as the top taxpayer in the retail sector. Photo: Viet Hung |
PNJ is recognized as the top taxpayer in the retail sector. Photo: Viet Hung
The CafeF Lists organizers noted the significance of this achievement, given the challenging year for the jewelry industry. Increased gold prices fueled investment and hoarding, leading to a decrease in resales and putting pressure on the supply of raw materials.
Meanwhile, overall jewelry purchasing power decreased as consumers prioritized essential goods. Many traditional gold businesses scaled back operations or left the industry entirely.
Experts believe the 2024-2025 period is a time of market selection. Businesses that navigate this period successfully generally possess strong foundations, transparency, and excellent service, positioning them for stronger future growth.
In 2024, despite a decline in the jewelry market, PNJ achieved positive growth by expanding its network to gain market share and launching new collections for specific customer segments.
For example, the company introduced Mancode by PNJ, a line designed specifically for men, based on in-depth research and understanding of this demographic's preferences. Effective marketing and communication campaigns helped the company defy the downward trend and increase sales during peak seasons.
Le Tri Thong, Vice Chairman of the Board of Directors and CEO of PNJ, stated, "While the Vietnamese and global economies continue to face challenges, the PNJ team is committed to 'leveling up and regenerating' ourselves to achieve breakthroughs in the headwinds of 2025. This approach enhances our long-term competitiveness in the jewelry sector and allows us to 'expand our territory' into new product categories, aligning with our PNJ 2030 strategic vision."
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PNJ Next Jewelry Center in Ho Chi Minh City. Photo: Viet Hung |
PNJ Next Jewelry Center in Ho Chi Minh City. Photo: Viet Hung
According to CafeF, within the Private 100 list, non-financial enterprises with tax contributions exceeding 1,000 billion VND hold leading positions in their respective industries and achieved positive results in the past year.
Paying taxes is not only a legal obligation but also demonstrates corporate social responsibility. PNJ's significant tax contributions reflect the scale of its operations and its business performance, building trust with investors, partners, and customers. This contribution also promotes the sustainable development of the retail sector and the national economy.
Beyond financial contributions, PNJ champions the comprehensive and balanced application of the three pillars of ESG (Environment, Social, and Governance) in its sustainable development strategy.
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The "Cinderella's Dream" project supports disadvantaged girls. Photo: Viet Hung |
The "Cinderella's Dream" project supports disadvantaged girls. Photo: Viet Hung
Over the past 37 years, the company has implemented numerous community projects and programs, including Cinderella's Dream, Warm Hands Connected, the 0 Dong Mini Supermarket, Raising Awareness of Autism in Vietnamese Children, and Happy Young Families.
The company also collaborates with authorities at all levels on social welfare activities, contributing to improving well-being and promoting sustainable development in local communities.
Dong Ve
