Continue to promote the core, leading and pioneering role of state-owned enterprises in the economy.

(MPI) – On March 23, 2024, the Government Office issued Notice No. 116/TB-VPCP on the conclusion of the Government Standing Committee at the Spring Meeting with typical state-owned enterprises nationwide.

Illustration photo. Source: MPI

According to the Announcement, the Prime Minister highly appreciated the Report of the Ministry of Planning and Investment , the opinions of the delegates, and acknowledged the important and positive contributions of the business community in general and state-owned enterprises (SOEs) in particular to the development of the country. After nearly 40 years of renovation, our country has risen strongly after the war, being besieged and embargoed; achieving great achievements of historical significance. The country's foundation, potential, position and international prestige have never been as good as they are today.

The Government always accompanies businesses, including SOEs; focuses on developing SOEs quickly, sustainably, and in the right direction, contributing to implementing the Party's policy that the state economy plays a leading role in the economy, with SOEs playing a pioneering and core role.

SOEs continue to hold large resources in terms of capital, assets, technology, and high-quality human resources, making significant contributions to the state budget, creating jobs for workers, actively participating in social security work, contributing to stabilizing the macro economy, controlling inflation, and ensuring the large balance of the economy. In 2023, despite facing many difficulties, the business results and contributions of SOEs to socio-economic development are remarkable: Total revenue is about 1.65 million billion VND, exceeding the plan by 4%, pre-tax profit is about 125.8 trillion VND, exceeding the annual plan by 8%, and the state budget contribution is estimated at about 166 trillion VND, exceeding the annual plan by 8%.

However, in addition to the achieved results, there are still enterprises with losses, not achieving the set production and business targets; some economic groups and corporations have negative profits, including large-scale enterprises with important roles; operational and investment efficiency is not commensurate with the assigned resources; some projects with large investment capital are not successful, with potential risks, some projects have accumulated large losses for many years, restructuring methods are not effective; overseas investment projects face many difficulties.

The Prime Minister requested ministries, branches, agencies, People's Committees of provinces and centrally run cities, and agencies representing owners and SOEs to thoroughly grasp and implement Directive No. 07/CT-TTg dated February 22, 2024 of the Prime Minister on innovating governance, improving production and business efficiency and strongly promoting investment and development of economic groups, state-owned corporations, SOEs and other relevant instructions and conclusions; focusing on the following contents.

Specifically, promote the core, leading and pioneering role of SOEs in the economy; SOEs need to be the pioneering force, leading in innovation, innovating the management model, restructuring capital sources, restructuring production and supply chains. Continue to improve the operational efficiency and competitiveness of SOEs in the direction of improving quality, specifically researching and cooperating to implement a number of new energy and technology projects following the shifting trends in the world, focusing on renewing traditional growth drivers. Strengthen links with domestic enterprises in other economic sectors, create domestic supply and linkage chains, reduce dependence on foreign countries. Focus on building brands, correctly assessing and promoting the potential differences, outstanding opportunities, and competitive advantages of each SOE to rise from internal strength. Resolutely handle existing problems and weak projects based on considering overall benefits.

For ministries, branches, agencies, People's Committees of provinces and centrally-run cities and representative agencies of owners, be active, proactive and responsible in helping enterprises according to their functions, tasks and powers; create conditions and opportunities for enterprises to develop, "do not wait for enterprises to come and ask for help".

Effectively perform the tasks assigned in Resolution No. 68/NQ-CP dated May 12, 2022 of the Government on continuing to innovate, improve operational efficiency and mobilize resources of SOEs.

The Prime Minister assigned the Ministry of Planning and Investment in the third quarter of 2024 to preside over and coordinate with relevant agencies to study and propose that the Prime Minister assign a focal agency to monitor and synthesize the production, business and investment development situation of SOEs to serve the goal of state management of SOEs; at the same time, promote the role of the Steering Committee for Enterprise Innovation and Development.

The People's Committees of provinces and centrally run cities actively promote good models such as the Becamex IDC Corp; contribute to the building of institutions and monitoring mechanisms to ensure the healthy and effective operation of state-owned enterprises, build a team of cadres and restructure weak enterprises.

The State Capital Management Committee at Enterprises shall be more proactive and active in its activities according to its assigned functions and tasks; based on the preliminary review of the Committee model, it shall proactively coordinate with relevant agencies to propose the completion of regulations related to the functions, tasks, and powers of the Committee and relevant laws./.

Thuc Anh

Ministry of Planning and Investment

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