SOEs urged to enhance role in implementation of strategic breakthroughs

Prime Minister Pham Minh Chinh on March 3 called on state-owned enterprises (SOEs) to engage more intensively in the implementation of strategic breakthroughs regarding institutional perfection, personnel training and infrastructure development.

Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: SGGP)

At a meeting with outstanding SOEs nationwide, the Government leader shared difficulties facing businesses in general and SOEs in particular last year.

He also lauded the sound, timely leadership and instruction by the Party Central Committee, efforts by the entire political system, the involvement of people and businesses, including significant contributions by SOEs, as well as cooperation and support from international friends to Vietnam in socio-economic development, making the country an economic bright spot globally.

Chinh asked the participants to propose solutions to challenges, and stressed the need to renew the existing growth drivers of investment, consumption and export, while promoting new ones such as digital transformation, green transition, circular economy, and knowledge-based economy.

The assets and resources of state enterprises should be brought into full play, and these firms should truly play a key role in the national economy, the leader continued.

The government always accompanies businesses, whether private or state-owned, to overcome difficulties and challenges together and spur development, he pledged.

The PM also commended SOEs for their efforts in utilizing cutting-edge technologies, and improving production and business efficiency, with many large firms at the forefront of new technologies.

Pointing to limitations and weaknesses of SOEs in administration, production and business, and competitiveness, Chinh requested them to make changes by their own mindset and expertise, as well as lessons learned from the world.

He also emphasised the need for them to conduct restructuring in administration, finance, production, business, and supply chains, respect competition and market rules under state management, and raise their competitiveness and resistance to shocks, both internal and external.

The leader urged accelerating the implementation of major, key national projects in important, strategic fields, saying SOEs must play the pioneering role in innovation and digital transformation.

Ministries, agencies and localities were also asked to boost administrative reform, better the business environment, and work to untangle knots for businesses, and facilitate their operations.

The Ministry of Planning and Investment reported that as of the end of 2023, Vietnam counted 676 state-owned enterprises, operating in various sectors.

At the beginning of 2023, their total assets were valued at VND3.82 quadrillion (US$154.93 billion), including nearly VND1.7 quadrillion of State capital.

Last year, their combined revenue stood at VND1.65 quadrillion, and the total amount of taxes and other payables to the budget reached VND166.21 trillion, the ministry said.

On this occasion, the PM launched an emulation movement to implement tasks set for this year.

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