State-owned enterprises wanted to be pioneers of innovation and international integration

Prime Minister Phạm Minh Chính meets with the authorities of state-owned enterprises on Saturday in Hà Nội. — Photo by VNA/VNS Dương Giang

HÀ NỘI – Prime Minister Phạm Minh Chính has asked state-owned enterprises (SOEs) to play a pioneering role in the future of innovation in Vietnam.

During a meeting with executives from over 150 large state-owned enterprises on June 15, he urged them to take a leading role in science and technology, international integration and effective foreign investment.

SOEs should also lead in the efficient use of the country’s resources, actively promoting and combating corruption, while exploring and implementing groundbreaking ways to develop the country. They should take the lead in training highly skilled labor and intelligent management, the government leader said.

He asked the leaders of state groups and corporations to be the backbone of the economy, a force implementing the tasks of socio-economic development, to maintain stable macroeconomic growth and a way to maintain the stability of the economy.

The government leader urged state-owned enterprises to focus on digital transformation, green transformation and creating a circular economy, especially in the semiconductor and artificial intelligence (AI) manufacturing industries.

Assigning specific tasks to state-owned enterprises in each industry and field, the Prime Minister asked ministries, sectors and municipalities to reform administrative procedures, improve the business and investment environment and create favorable conditions for enterprises, including state-owned enterprises, and always supports and accompanies them.

Ministries and sectors should continue to improve the legal framework for the management of state-owned enterprises and develop special procurement mechanisms for their products, as well as incentives related to financial and administrative procedures, and review and eliminate difficulties and obstacles to accelerate the implementation of key investment projects.

At the conference, leaders of ministries, sectors and enterprises assessed the role and contribution of state-owned enterprises to socio-economic development and proposed solutions to reduce inflation and strengthen growth.

In the face of a complex and unstable global situation, the country’s macroeconomy is stable, inflation is under control and, thanks to the determination of the government and the Prime Minister, significant balance is ensured.

Total revenues to the state budget in the first five months of this year amounted to 52.8%. target, which means an increase of 14.8%. year on year, while income from imports and exports increased by 16.6%. compared to the same period last year, and the industrial sector index estimated production to increase by 8.9 percent year-on-year. Many international organizations are happy about Vietnam’s positive economic growth prospects in 2024.

State-owned enterprises have made a huge contribution to the country’s achievements, and 19 groups and corporations under the leadership of the Commission for the Management of State Capital in Enterprises (CMSC) recorded a combined pre-tax profit of over VNĐ 28 trillion (over USD 1 billion) and contributed to the budget countries over VNĐ 70 trillion.

However, several SOEs suffered losses, capital disbursement in several large enterprises was delayed compared to plans, while the share of SOE investments in new areas such as clean energy and semiconductors remained low and in some cases showed limitations in digital transformation. —VNS