Need to promote the inspirational role of state-owned enterprises

The Prime Minister requested that it is necessary to identify and promote the leading, motivating and inspiring role of state-owned enterprises in the economy ; effectively exploit the assets and resources they hold.

Prime Minister: Need to promote the inspirational role of state-owned enterprises

Prime Minister Pham Minh Chinh delivered the opening speech at the Conference. (Photo: Duong Giang/VNA)

On March 3, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired the Government Standing Committee meeting with typical state-owned enterprises nationwide, launching an emulation movement to implement tasks in 2024, contributing to the successful completion of Resolution No. 01/NQ-CP of the Government.

Attending the conference were Deputy Prime Ministers Le Minh Khai and Tran Luu Quang; Ministers, heads of ministerial-level agencies and government agencies; leaders of Hanoi and Ho Chi Minh City, and 130 typical state-owned enterprises nationwide.

In his opening speech, Prime Minister Pham Minh Chinh said that 2023 has passed in the context of complicated developments in the world situation, affecting the global economy and Vietnam, including difficulties for businesses in general and state-owned enterprises in particular.

Thanks to the wise and timely leadership and direction of the Party Central Committee, specifically, directly and regularly by the Politburo and the Secretariat, headed by General Secretary Nguyen Phu Trong; the efforts of the entire political system, the participation of the people and businesses, including important contributions from state-owned enterprises, the cooperation and support of international friends, our country's socio-economy has achieved important and comprehensive results in all fields, becoming a bright spot in the global economy.

The Government identified 2024 as the year of acceleration to successfully implement the 5-year Socio-Economic Development Plan 2021-2025, so the Prime Minister requested delegates to discuss, analyze the situation, evaluate results, share experiences, propose tasks and solutions, remove difficulties, overcome challenges to complete the tasks of the year and the coming time.

Stakeholders need to identify and promote the leading, motivating and inspiring role of state-owned enterprises in the economy; effectively exploit assets and resources that state-owned enterprises are holding; and renew old motivations for investment, consumption and export.

At the same time, it is necessary to promote new driving forces for Digital Transformation, Green Transformation, circular economy, knowledge economy; care for and ensure the lives of officials, civil servants and workers; ensure social security; compete fairly, develop together; promote cooperation with foreign partners...

The Prime Minister hopes that State-owned enterprises will participate more deeply in implementing three strategic breakthroughs in institutional improvement, human resource training, and infrastructure development.

In particular, ministries, branches and enterprises should study and implement restructuring in terms of governance, finance, input, supply chain of enterprises..., developing state-owned enterprises to truly be the key economic component of the economy.

According to the Ministry of Planning and Investment, by the end of 2023, Vietnam will have 676 state-owned enterprises (478 enterprises in which the State holds 100% of charter capital and 198 enterprises in which the State holds controlling shares), present in many industries and fields with important roles and positions in the economy.

By early 2023, the total assets of state-owned enterprises nationwide reached VND 3,821,459 billion, the total equity of state-owned enterprises reached VND 1,807,999 billion. The total value of state capital invested in these enterprises is VND 1,699,125 billion.

According to the Ministry of Planning and Investment, synthesizing data from 605/676 state-owned enterprises that sent reports, it is estimated that the production and business results in 2023 will basically exceed the set plan.

Of which, total revenue is 1,652,442 billion VND; total pre-tax profit by the end of 2023 is 125,847 billion VND. Total tax and other amounts payable to the budget is 166,218 billion VND. In addition, revenue from dividends and after-tax profits payable to the budget in 2023 is 60,275 billion VND, reaching 110% of the approved plan...

However, the production, business and investment development activities of state-owned enterprises still have some limitations and shortcomings. Some enterprises are losing money; the competitiveness, application of science and technology and innovation of large-scale enterprises are still limited. Innovation in corporate governance in production and business management is still slow. New projects of state-owned enterprises are deployed and implemented in small numbers, and investment efficiency has not met expectations./.

Pham Tiep/Vietnam News Agency

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