President Nguyễn Xuân Phúc meets leaders of outstanding State firms in Hà Nội ahead of the Vietnam Entrepreneurs Day. — VNA/VNS Photo

HÀ NỘI — State-owned enterprises should play a more active role in promoting development in disadvantaged localities, President Nguyễn Xuân Phúc said on Monday. 

At a meeting with leaders of outstanding State firms in Hà Nội ahead of the Vietnam Entrepreneurs Day (October 13), the leader stressed that enterprises have helped to deal with socio-economic challenges while playing a pioneering role in protecting socialism.

The leader praised the Party Committee of the Central Business Bloc, and Party Committees of groups, corporations and banks for their leadership in Party building and the fulfillment of political tasks.

The businesses contribute more than 20 per cent of the national budget collection annually, and take the lead in social welfare, he emphasised.

Pointing to limitations and challenges faced by State firms, the President asked the Party Committee of the Central Business Bloc and Party organisations to work harder in order to prevent losses and negative phenomena.

He also urged enterprises to accelerate restructuring, digital transformation and scientific-technological application, and make better forecasts based on domestic and world situation analysis to make use of opportunities and reduce risks.

The business administration system should be upgraded to meet modern standards, and competitiveness of the enterprises improved, he said, suggesting the issuance of indexes to monitor and evaluate production and business efficiency.

Phúc noted that the State firms should take the lead in research and innovation, build an ecosystem of small- and medium-sized enterprises, form value chains, and optimise the domestic market to integrate into the world.

He called for more contributions from the firms to maintaining macro-economic stability and ensuring security for the national economy, particularly energy and food security, and environmental protection.

The Party Committee reported that the combined revenue of the entire bloc in the first nine months of this year was estimated at VNĐ1.54 quadrillion (US$64.47 billion), up nearly 39 per cent.

The enterprises contributed nearly VNĐ225 trillion to the State budget, a rise of some 24 per cent.

Notably, they provided nearly VNĐ32.2 trillion for the COVID-19 fight and contributed close to VNĐ5 trillion to social welfare. — VNS