State-owned enterprises asked to pioneer innovation and international integration

Prime Minister Pham Minh Chinh speaks during a meeting with leaders of state-owned enterprises (Photo: VNA)

Prime Minister Pham Minh Chinh, during meetings with executives from over 150 largest state-owned enterprises, Prime Minister Pham Minh Chinh asked state-owned enterprises (SOEs) to play a pioneering role in innovation, application and improvement of science and technology within Industry 4.0, as well as international integration and effective foreign investments on June 15.

Public enterprises should also lead in the effective use of the country’s resources, actively promoting the prevention and fight against corruption and other negative phenomena; researching, proposing and implementing groundbreaking mechanisms and policies aimed at developing the country; and training high-quality human resources and intelligent management in business development, Chinh said.

He asked the leaders of state-owned groups and corporations to keep in mind the leading role of the state economy and state-owned enterprises as a major and important force for achieving socio-economic development tasks, maintaining stable macroeconomic growth and maintaining the stability of the main balances of the economy.

The government leader urged state-owned enterprises to focus on digital transformation, green transformation and circular economy, particularly on 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 support and accompany them.

Ministries and sectors should continue to improve the legal framework for the management of SOEs and develop special procurement mechanisms for their products, as well as incentives related to financial and administrative procedures, and review and remove 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 a complex and unpredictable world situation, the macroeconomy is stable and the inflation rate is under control, and thanks to the decisiveness and drastic guidance of the government and the Prime Minister, the main balance is ensured.

Total revenues to the state budget in the first five months of this year. amounted to 52.8% of estimates, an increase of 14.8% year-on-year, while import and export revenues increased by 16.6% compared to the same period last year, and the industrial production index was estimated to increase by 8.9% year on year. Many international organizations are happy about Vietnam’s promising economic growth prospects in 2024.

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

However, several SOEs suffered losses, capital disbursement in several large enterprises was delayed, while SOEs’ share of investment in new areas such as clean energy and semiconductors remained low and their competitive ability and application of advanced technologies and innovation, green transition and digital transformation have shown limitations./.

VNA