This was one of the key points emphasized by Prime Minister Pham Minh Chinh at the Government's Standing Committee meeting with state-owned enterprises nationwide on solutions to promote production, business, and investment development.
The online conference took place on the morning of September 14th at the Government Headquarters, chaired by Prime Minister Pham Minh Chinh and the Deputy Prime Ministers. Also in attendance were leaders from central ministries and agencies, and representatives from 680 businesses nationwide. The conference was broadcast live to 63 provinces and centrally-administered cities. At the Binh Thuan branch, Vice Chairman of the Provincial People's Committee Nguyen Minh presided, with the participation of relevant departments, agencies, and state-owned enterprises in the province.
In his opening remarks at the conference, Prime Minister Pham Minh Chinh emphasized that the Party and State of Vietnam have determined that state-owned enterprises (SOEs) hold a key position and are an important material force of the state economy , making a significant contribution to macroeconomic stability and promoting socio-economic development. In the first eight months of 2023, despite being significantly affected by the global situation, the socio-economic situation in August and the first eight months maintained its growth momentum in many areas. Alongside the achievements, growth still faces many difficulties, especially in the processing and manufacturing industries.
According to the Ministry of Planning and Investment, by the end of 2022, Vietnam still had approximately 478 enterprises wholly owned by the State and about 198 enterprises in which the State held a controlling stake. Currently, excluding defense, security, and agriculture/forestry enterprises, there are only 77 large-scale state-owned enterprises remaining, including 6 economic groups; 53 state-owned corporations; and 18 companies operating under a parent-subsidiary company model. State-owned enterprises hold significant resources in terms of capital, assets, technology, and high-quality human resources, making substantial contributions to the state budget.
In Binh Thuan province alone, the Provincial People's Committee reported that the estimated revenue for the first eight months of 2023 for state-owned enterprises was as follows: Lottery Company Limited: VND 4,313.45 billion, reaching 97.07% of the annual plan; Irrigation Works Exploitation Company Limited: VND 64.715 billion, reaching 34.06%; Binh Thuan Forestry Company Limited: VND 38.099 billion, reaching 60.46%; Song Dinh Forestry Company Limited: VND 1.813 billion, reaching 31.39% of the 2023 annual plan. In addition, the estimated revenue of state-owned joint-stock companies as of August 31st included Binh Thuan Water Supply and Drainage Joint-Stock Company: VND 180.214 billion, reaching 62.23% of the annual plan. Binh Thuan Urban Environment and Services Joint Stock Company achieved 60.357 billion VND, reaching 67.12% of the 2023 plan… Regarding proposals and recommendations from businesses, the People's Committee of Binh Thuan province stated that currently, regulations on the preparation, submission, approval, decision-making, and public disclosure of business plans, financial plans, and business ranking indicators lack uniformity and specific guidance, with overlapping approval authority, and even inconsistent implementation timelines across localities. In the list of preferential bank loans, the province requested the Government to intervene and support the inclusion of forest planting and wood processing as eligible categories for medium and long-term loans from banks, thereby facilitating connection and support between forestry businesses and banks for development…
In his concluding remarks at the conference, Prime Minister Pham Minh Chinh emphasized that state-owned enterprises (SOEs) play a crucial role in leading, pioneering, and maximizing their resources to focus on investment and development in various fields, contributing to economic growth. SOEs are at the forefront of innovation, enhancing competitiveness, focusing on digital transformation, green transformation, circular economy, sharing economy, and emerging industries. The government, ministries, localities, and owner's representative agencies must work closely with these enterprises.
Accordingly, the Prime Minister directed that the restructuring of state-owned enterprises (SOEs) must be closely aligned with the actual situation, focusing not only on capital restructuring but also on improving labor productivity, capital efficiency, and the material and spiritual well-being of employees. SOEs must participate more actively and effectively in major state programs and projects. Furthermore, all levels of government should implement a mechanism of holding meetings and dialogues every three months to allow SOEs to promptly share their difficulties, obstacles, concerns, and aspirations, with a spirit of utmost openness, attentiveness, and responsibility…
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