State-owned enterprises hold key positions, promoting economic development

That was one of the emphasized contents of Prime Minister Pham Minh Chinh at the Government Standing Conference working with state-owned enterprises nationwide on solutions to promote production, business and investment development.

The online conference took place on the morning of September 14 at the Government Headquarters, chaired by Prime Minister Pham Minh Chinh and Deputy Prime Ministers. Also attending were leaders of central ministries and agencies, representatives of 680 enterprises nationwide. The conference was broadcast live to 63 provinces and centrally-run cities. At the Binh Thuan bridge, Vice Chairman of the Provincial People's Committee Nguyen Minh chaired, with the participation of relevant departments, agencies and state-owned enterprises in the province.

*Vice Chairman of the Provincial People's Committee Nguyen Minh chaired at Binh Thuan bridge point.*

Speaking at the opening of the conference, Prime Minister Pham Minh Chinh emphasized that the Party and State have determined that state-owned enterprises (SOEs) hold a key position and are an important material force of the state economy , contributing significantly to stabilizing the macro-economy and promoting socio-economic development. In the first 8 months of 2023, despite being greatly affected by the world situation, the socio-economic situation in August and the first 8 months maintained growth momentum in many areas. In addition to the achieved results, growth still faces many difficulties, especially in the processing and manufacturing industry.

*Production and business at Binh Thuan Forestry One Member Co., Ltd.*

According to the Ministry of Planning and Investment, by the end of 2022, Vietnam will have about 478 enterprises with 100% state capital and about 198 enterprises with controlling shares held by the state. Currently, if excluding defense, security and agricultural and forestry enterprises, there are only 77 large-scale state-owned enterprises, including 6 economic groups; 53 state-owned corporations, and 18 companies operating under the parent company - subsidiary model. State-owned enterprises are holding large resources in terms of capital, assets, technology, and high-quality human resources, contributing significantly to the state budget.

In Binh Thuan alone, the Provincial People's Committee said that the estimated revenue realized in the first 8 months of 2023 of state-owned enterprises includes: Lottery One Member Co., Ltd. is 4,313.45 billion VND, reaching 97.07% of the annual plan; Irrigation Works Exploitation One Member Co., Ltd. is 64.715 billion VND, reaching 34.06%; Binh Thuan Forestry One Member Co., Ltd. is 38.099 billion VND, reaching 60.46%. Song Dinh Forestry One Member Co., Ltd. is 1,813 billion VND, reaching 31.39% of the 2023 plan. In addition, the estimated revenue realized by August 31 of state-owned joint stock companies includes Binh Thuan Water Supply and Drainage Joint Stock Company is 180.214 billion VND, reaching 62.23% of the annual plan. Binh Thuan Urban Environment and Services Joint Stock Company 60,357 billion VND, reaching 67.12% of the 2023 plan... Regarding the proposals and recommendations of enterprises, the People's Committee of Binh Thuan province said that currently, the regulations on making, submitting, approving, deciding, and publicizing business plans, financial plans, and criteria for evaluating and classifying enterprises have not been unified and have specific instructions, overlapping in the approval authority, and even the implementation time at localities has not been unified. In the list of preferential bank loans, it is proposed that the Government intervene and support the inclusion of the list of forest planting and wood processing to receive medium and long-term loan support at banks to help forestry enterprises and banks connect and support for development...

*The project is managed and exploited by Irrigation Works Exploitation Company Limited.*

Concluding the conference, Prime Minister Pham Minh Chinh emphasized that SOEs play a very important role in leading, pioneering, paving the way, maximizing their resources to focus on investment and development in various fields, contributing to promoting growth. SOEs are at the forefront of innovation, improving competitiveness, focusing on digital transformation, green transformation, circular economy, sharing economy, and emerging industries. The Government, ministries, branches, localities, and representative agencies of owners must accompany and stand shoulder to shoulder with enterprises.

*Prime Minister Pham Minh Chinh directed at the conference.*

Accordingly, the Prime Minister directed that restructuring of SOEs must be close to the actual situation, not only focusing on restructuring capital, but also improving labor productivity, capital efficiency, and improving the material and spiritual life of workers. SOEs must participate more actively and effectively in major programs and projects of the State. In particular, authorities at all levels will implement a 3-month periodic mechanism to organize meetings and dialogues so that SOEs can promptly share their difficulties, problems, thoughts, and aspirations, with a spirit of utmost openness, utmost listening, utmost responsibility...

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