PM asks SOEs to promote econimic growth

Prime Minister Pham Minh Chinh has instructed State-owned enterprises (SOEs) to strive more to make stronger contribution to sustainable and rapid development of the economy.  

Chairing a conference between permanent Cabinet members and leaders from SOEs in Hanoi on February 27 to identify measures to achieve the double-digit growth target, the PM asked enterprises, especially SOEs, to implement six pioneering initiatives in innovation, digital transformation, and  development and application of science and technology; in making more positive and effective contributions to the three strategic breakthroughs of institutions, infrastructure, and human resources;

PM Chinh also highlighted the importance of the SOEs' pioneering role in developing the digital economy, green economy, circular economy, sharing economy, knowledge economy, and creative economy; and in creating high value-added goods, joining global value, supply, and production chains, expanding regionally and internationally to enhance national competitiveness and brand.

According to the Ministry of Finance, in 2023, Vietnam had 671 SOEs, including 473 with 100% state-owned charter capital and 198 others in which the state holds more than 50% of the charter capital.

Their total assets amounted to nearly VND3.9 quadrillion ($152.6 billion), with total revenue exceeding VND2.6 quadrillion, pre-tax profit reaching VND211 trillion.