Workers produce garment for export. (Illustrative photo: VNA) In his directive signed on February 22, the government leader attributed Vietnam’ssignificant achievements in 2023 partly to important contributions by SOEs.
Last year, their total revenue was estimated at over 1,652quadrillion VND (67.1 billion USD) and their pre-tax profit around 125.8quadrillion VND, 4% and 8% higher than the respective targets. The firmscontributed about 166 quadrillion VND to the state budget, 8% higher than thetarget, statistics show.
SOEs have increasingly shown their leading role in importantand essential sectors of the economy, helping stabilise the macro-economy,control inflation, boost growth, guarantee major economic balances, and promotesocio-economic development and national defence, he noted.
However, PM Chinh also pointed out certain shortcomings,saying some SOEs have yet to fully capitalise on the state resources, capital,and assets assigned to them or meet investment disbursement targets; someposted losses; their competitiveness, science - technology application,innovation, and digital transformation remain limited; and corporate governancereform is still slow.
Given this, he demanded SOEs, especially their presidents,general directors/directors, and the persons representing the state capital atthose firms to improve their awareness and sense of responsibility towards the managementof the state capital and assets entrusted to them.
He told them to promote the self-reliance spirit,proactiveness, creativity, and the readiness to think big, act bold, and bear responsibilityfor the sake of national interests.
The SOEs were asked to fruitfully and efficientlycarry out the plan on enterprise restructuring for the 2021 - 2025 period,their development strategies, annual and five-year production, business, andinvestment plans, along with related tasks and directions issues by theGovernment and the PM.
They were also asked to step up nationally keyprojects in important fields to create momentum for sectors and the entire economyto grow, carry out timely capital disbursement to accelerate investmentprojects, and consider increasing investment in innovation and emergingsectors.
The enterprises need to prioritise resources fortheir core business fields, address the scattering and ineffectiveness of investment,improve the innovation capacity, reform and align their corporate governance modelswith international practices, re-organise apparatuses, enhance competitivenessin the domestic and international markets, and create foundation for buildingdevelopment orientations and strategic visions for the next period, theGovernment leader demanded.
Healso ordered them to overfulfill production and business targets to make the biggestpossible contributions to guaranteeing major balances of the economy,stabilising the macro-economy, generating revenue for the state budget,creating jobs and ensuring the life of workers, and implementing socialsecurity policies.
In addition, PM Chinh asked SOEs to continueupholding their way-paving and leading role in the economy and ensure thatthey are the pioneer force in terms of innovation, digital transformation,and economic recovery.
In his directive, the PM also assigned tasks to SOEs operatingin certain fields, ministries, sectors, the People’s Committees of provincesand centrally-run cities, and the agencies representing the state capital atthose businesses./.
VNA
