State-owned enterprises asked to be pioneers in innovation, int’l integration

June 16, 2024 - 15:11
Nineteen groups and corporations, under the management of the Commission for the Management of State Capital at Enterprises (CMSC) posted a combined before-tax profit of over VNĐ28 trillion (more than US$1 billion) and contributed more than VNĐ70 trillion  to the state budget.
Prime Minister Phạm Minh Chính meets SOEs' executives in Hà Nội on Saturday. — VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính requested that State-owned enterprises (SOEs) play a pioneering role in the future of innovation in Việt Nam.

He called on them to take the lead in science and technology, in international integration and effective foreign investment, while meeting with executives from over 150 major SOEs on June 15.

SOEs should also lead the way in effectively tapping the country's resources, actively promoting and combating corruption, while researching and implementing breakthroughs in ways to develop the country. They should lead the way in training a highly skilled workforce and smart management, said the Government leader.

He asked leaders of State-owned groups and corporations to be the core of the economy, a force to implement socio-economic development tasks, to maintain stable macroeconomic growth and the way of keeping the economy stable.

The Government leader urged SOEs to focus on digital transformation, green transformation and creating a circular economy, particularly in the semiconductor manufacturing and artificial intelligence (AI) industries.

Assigning specific tasks to SOEs in each industry and field, the PM asked ministries, sectors and localities to reform administrative procedures, improve the business and investment environment and create favourable conditions for and always support and accompany businesses, including SOEs.

Ministries and sectors should continue to improve the legal framework for managing SOEs and design special mechanisms for ordering their products as well as incentives related to finance and administrative procedures and review and address difficulties and obstacles to speed up the implementation of key investment projects.

At the conference, leaders of ministries, sectors and enterprises evaluated the roles and contributions of SOEs to socio-economic development and proposed solutions to curbing inflation and bolstering growth.

With the complex and volatile global situation, the country's macro-economy has been stable with inflation under control and major balances ensured thanks to the Government and Prime Minister’s resolve.

Total state budget collection in the first five months of this year accounted for 52.8 per cent of the target, up 14.8 per cent year-on-year while import-export revenues rose 16.6 per cent from the same time last year and the index of industrial production was estimated to grow 8.9 per cent year-on-year. Many international organisations have relished the positive prospects for Việt Nam's economic growth in 2024.

State-owned enterprises made great contributions to the nation’s achievements, with 19 groups and corporations under the management of the Commission for the Management of State Capital at Enterprises (CMSC) posting a combined before-tax profit of over VNĐ28 trillion (more than US$1 billion) and contributed more than VNĐ70 trillion to the state budget.

However, several SOEs suffered losses, capital disbursement at several large-scale firms lagged behind plans, while the SOEs' proportion of investment in new areas such as clean energy and semiconductors remained low, while some showed limitations in digital transformations. — VNS