Ho Chi Minh City: Removing difficulties and supporting state-owned enterprises to develop

238 problems related to departments and branches

At the meeting, the leader of the Department of Finance said that in the City, there are currently 47 100% State-owned enterprises in the City facing 276 petitions related to many areas such as: tax, customs, market management, capital contribution, capital transfer, divestment, land management, investment project implementation and policy mechanisms... Of which, 238 petitions are under the authority of departments, branches and sectors; 38 petitions are under the authority of the People's Committees of districts, towns and Thu Duc City.

Ho Chi Minh City leaders require state-owned enterprises to proactively develop plans to achieve growth of 8% or more in 2025, aiming for double-digit growth in the 2026-2030 period. (Photo: Finance Magazine)

The above difficulties are also the reason why the economic efficiency of state-owned enterprises has recently shown signs of decline, not commensurate with the capital and assets invested by the State. Besides, there are also objective factors such as: The constraints of policy mechanisms and subjectivity in management and organization of the apparatus.

On that basis, SOEs also proposed merging companies with similar functions to create stronger capital sources, while requesting financial resources to support SOEs with more development motivation.

Many SOEs in the area also shared that they are facing difficulties in competing with the private sector due to slow decision-making processes, lack of flexibility in capital and asset management, as well as the burden of debt payment obligations to local agencies. These issues have reduced the ability of SOEs to contribute to the City's economic growth.

Strengthening support solutions and facilitating development

In order to remove difficulties and improve the operational efficiency of state-owned enterprises, the Department of Finance proposed that the City People's Committee direct departments and branches to promptly resolve difficulties and recommendations of enterprises, provide guidance documents and report periodically before the 20th of each month. For the People's Committees of districts and Thu Duc City, before July 1, the units need to review and completely pay off outstanding debts related to the District Public Service Company Limited.

Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that in the long term, the City will restructure SOEs in a streamlined, efficient and easy-to-manage direction. At the same time, the Department of Finance will coordinate with the City Research and Development Institute to hire experts to develop a SOE restructuring project. Accordingly, the project will classify SOEs by group, capital ownership and function, ensuring that they are suitable for reality and bring high efficiency. The project is expected to be completed in September 2025.

The City leaders also requested that SOEs proactively develop plans to achieve growth of 8% or more in 2025, aiming for double-digit growth in the 2026-2030 period. Along with key solutions such as: cost savings, technology application, restructuring the apparatus and effectively managing capital and assets. At the same time, the City encourages SOEs to propose creative solutions, putting the interests of the City and the people first, avoiding waste and privatization of public assets.

Vice Chairman of the City People's Committee Nguyen Van Dung also emphasized the important role of SOEs in stabilizing and developing the socio-economy, and pledged that the City's leaders will continue to organize meetings to listen and resolve difficulties. Mr. Dung also requested that departments and branches quickly advise on restructuring policies, ensuring a larger scale of operations and in accordance with environmental security requirements after merging administrative units.

Through synchronous solutions and determination from the leaders of Ho Chi Minh City, SOEs are expected to soon overcome difficulties, promote their leading role and contribute more positively to the sustainable development of the City in the coming time.

According to Finance Magazine
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Source: https://thoidai.com.vn/tp-ho-chi-minh-thao-go-kho-khan-ho-tro-cac-doanh-nghiep-nha-nuoc-phat-trien-213603.html