From a pillar of stability to a driving force.

The issuance of Resolution No. 79-NQ/TW by the Politburo strongly affirmed the leading role of the state-owned economy in the new development phase. Facing the demands of restructuring and deep integration, this sector needs to continue comprehensive reforms to improve efficiency and create momentum for development.

Positive contribution

The province currently has 9 state-owned enterprises, including 2 enterprises with 100% state capital: Tuyen Quang Lottery Company Limited, Ha Giang Lottery Company Limited, and 7 enterprises where the state holds 50% or more of the capital: Tuyen Binh Forestry Company Limited, Son Duong Forestry Company Limited, Chiem Hoa Forestry Company Limited, Yen Son Forestry Company Limited, Tuyen Quang Water Supply and Drainage Joint Stock Company, Ha Giang Urban Environment Joint Stock Company, and Ha Giang Road Construction Joint Stock Company II.

Officials from Tuyen Quang Power Company operate the power grid system, ensuring a stable electricity supply for residents and businesses in the area.

Mr. Nguyen Quang Huy, Deputy Director of Tuyen Quang Water Supply and Drainage Joint Stock Company, said that as one of the enterprises that underwent equitization since December 2017, the company is currently supplying clean water to over 45,000 customers, with a water consumption volume of over 8.0 million m3/year, total revenue of over 76 billion VND, ensuring stable employment for 238 workers, with an income of over 10.1 million VND/person/month.

Over the years, the company has focused on implementing several sets of solutions to improve corporate governance efficiency, gradually perfecting its governance model towards transparency, clearly defining responsibilities between the Board of Directors and the Executive Board; promoting the application of modern management tools and science and technology in production and business operations; digitizing customer services; investing strategically in the water supply system; and strictly controlling costs to reduce water loss. As a result, revenue and profits have maintained stable growth, and state capital has been preserved and developed.

In line with Resolution 79, the state-owned economy not only plays a leading role in terms of scale, but more importantly, it guides, directs, and creates a foundation for other economic sectors to develop together. In the process of restructuring key industries, especially processing, manufacturing, and high technology, the province considers this a crucial foundation for creating significant added value, solving employment problems, promoting labor structure transformation, and sustainably increasing budget revenue. Industrial parks and economic zones in the province, such as Long Binh An Industrial Park, Son Nam Industrial Park, and Binh Vang Industrial Park, have been comprehensively invested in technical infrastructure, transportation, electricity, water, and logistics, creating a favorable environment to attract domestic and foreign investors.

At Tuyen Quang Power Company, Mr. Tran Xuan Hao, Deputy Director of the company, stated: The unit is well aware of its responsibility not only to ensure a stable and safe electricity supply to serve socio-economic development, but also to contribute to regulating and guiding the market according to the State's direction. In reality, during peak periods or natural disasters and epidemics, the role of state-owned enterprises is further affirmed as they always proactively allocate resources and are ready to serve political tasks and ensure social welfare.

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Playing a leading role

In its development strategy for the period 2025-2030, the province aims to restructure its industrial sector towards modernization and sustainability, gradually reducing dependence on natural resources, while strongly promoting processing, manufacturing, high technology, and renewable energy. The province strives for an average annual growth rate of 10.5% in its gross provincial product (GDP) during this period. These are ambitious targets requiring the concerted efforts of the entire political system, the business community, and the people, but they also serve as a driving force for the province to shift its growth model towards in-depth development, improving the quality and competitiveness of its economy.

Over the years, the state-owned economic sector has continued to play a crucial role in essential areas such as infrastructure, finance, public services, and energy, contributing to GRDP growth, ensuring social security, and stabilizing the local economy. Several state-owned enterprises and enterprises with state capital have effectively played a pivotal role in key industries, contributing to maintaining the major balances of the provincial economy, especially in the context of market fluctuations and the need for post-pandemic recovery.

According to the Department of Finance's assessment, currently, in the province, enterprises with 100% state-owned capital and enterprises with over 50% state-owned capital under the management of the Provincial People's Committee are operating efficiently, preserving state capital invested in the enterprises, fulfilling their obligations to the state budget; ensuring employment for workers; complying with regulations regarding employee benefits, paying taxes and social insurance; and submitting reports as required.

However, realistically, this sector still has quite a few limitations, such as the fact that the production and business efficiency of some enterprises is not commensurate with the resources they possess. Some enterprises also suffer from inefficient management and slow technological innovation…

Given this reality, restructuring, reforming, and improving the efficiency of state-owned enterprises has been identified as a key task. Currently, the province is decisively directing the restructuring of state-owned enterprises in accordance with the central government's guidelines, linked to the province's infrastructure and industrial development strategy. This includes focusing on perfecting the institutional framework and mechanisms for managing state capital, clearly separating the functions of state management and the functions of representing the owner. This is identified as a breakthrough to improve the efficiency of the state-owned economic sector.

Simultaneously, we will accelerate the restructuring of state-owned enterprises, coupled with the innovation of governance models and the application of modern governance standards in accordance with international practices, aiming for 100% of state-owned corporations and enterprises to adopt advanced governance principles. We will focus resources on key, essential sectors with high spillover effects, such as strategic infrastructure and energy, and strongly promote innovation and digital transformation within state-owned enterprises.

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For state-owned enterprises, this is an opportunity to transform from a state-owned economic sector that still "plays a stabilizing role" into a pioneering force, leading and paving the way for development, contributing to a strong breakthrough in Tuyen Quang's economy in the new development phase.

Text and photos: Quoc Viet

Source: https://baotuyenquang.com.vn/kinh-te/202604/tu-tru-cot-on-dinh-den-dong-luc-dan-dat-09b53b4/