This is the direction of Prime Minister Pham Minh Chinh at the Conference of the Government Standing Committee working with state-owned enterprises (SOEs) nationwide on solutions to promote production, business and investment development, taking place on the morning of September 14.
State-owned enterprises contribute 28% of state budget revenue
At the conference, leaders of the Ministry of Planning and Investment presented a summary report on the production, business and investment development situation of state-owned enterprises; solutions to improve operational efficiency and promote investment and development of state-owned enterprises in the coming time.
According to the report, by the end of 2022, Vietnam will have about 478 enterprises in which the State holds 100% of charter capital and about 198 enterprises in which the State holds controlling shares.
Of which, although accounting for only more than 10% in quantity, the parent company group-general corporation (large-scale SOEs) holds 92% of total assets, 93% of total revenue and 92% of pre-tax profit of all SOEs nationwide.
100% state-owned enterprises are holding about 7% of total assets and 10% of equity of all enterprises in the market, accounting for about 25.78% of total production and business capital and 23.4% of fixed assets and long-term financial investments of enterprises. State-owned enterprises contribute about 28% of state budget revenue, accounting for about 7.3% of the labor force of the entire enterprise sector.
By the end of 2022, the total assets of state-owned enterprises nationwide reached VND 3,821,459 billion, an increase of 4% compared to 2021.
In 2023, as of June 30, the total revenue of state-owned enterprises was VND 689,534 billion, reaching 50% of the 2023 plan. Profit before corporate income tax was VND 67,403 billion, reaching 63% of the 2023 plan.
However, many enterprises are facing difficulties, losses, low profit/asset ratio, and operating efficiency is not commensurate with the resources held. Corporations and general companies have not focused on investing in leading and motivating industries and fields. Corporations and general companies have not coordinated, linked, and taken advantage of the strengths of enterprises in the fields to implement large, key projects, especially the issue of arranging capital for projects...
At the Conference, leaders of state-owned enterprises proposed many solutions to remove difficulties in mechanisms and policies, and take advantage of investment cooperation opportunities to make business operations more effective and innovative.
Mr. Dang Hoang An, Chairman of the Board of Directors of Vietnam Electricity Group (EVN), promised the Prime Minister to ensure electricity supply from now until the end of the year. EVN is also focusing on cost optimization solutions, cutting unnecessary expenses to reduce financial burden.
However, according to Mr. Dang Hoang An, the investment sector for energy is very difficult. Investment in energy is very large and essential, but in our institutional system there is no specific mechanism for energy.
Meanwhile, Viettel Chairman and General Director Tao Duc Thang expressed his wish that the Government regularly listens to businesses' difficulties, especially those related to regulations and policies, to promptly detect and remove inadequacies. At the same time, there should be regulations to protect those who dare to think and dare to do, even in state-owned enterprises.
Mr. Thang also said that recently, Vietnam and the United States upgraded their relationship to a comprehensive strategic partnership, so he hopes that the Government will have a clear roadmap, from plans, tasks, and assignments to units, ministries, sectors, and enterprises in coordinating with US partners to receive leading technology, especially high technology and digital technology.
Put yourself in the business's shoes to solve problems
The Prime Minister requested to create all favorable conditions for businesses, put oneself in the position of businesses to solve difficulties and overcome challenges.
Concluding the conference, the Prime Minister stated that the message of the conference is to join hands and unite to overcome difficulties, overcome challenges, promote investment and development, and contribute to achieving the economic growth target in 2023 and the following years. The spirit is to harmonize the interests of the State, the people and enterprises, harmonize benefits and share risks; do not say no, do not say difficult, do not say yes but do not do for enterprises.
The Prime Minister requested ministers, heads of sectors, heads of ministerial-level agencies, and chairmen of provincial and municipal People's Committees to focus on directing administrative reform, decentralization, delegation of power, creating all favorable conditions for businesses, putting themselves in the position of businesses to solve difficulties, overcome challenges, truly share, encourage and motivate those who do the right thing, do well, and resolutely handle those who violate, harass, are negative, avoid and shirk responsibility...
The Ministry of Finance shall promptly complete the dossier and submit it to the Government for reporting to competent authorities for consideration of amendments and supplements to the Law on Management and Use of State Capital Invested in Production and Business at Enterprises.
The Ministry of Planning and Investment proposed to amend and supplement Decree No. 10/2019/ND-CP on the implementation of rights and responsibilities of State owner representatives.
The Ministry of Science and Technology is studying to amend regulations on changing the purpose of using the Science and Technology Development Fund of enterprises to facilitate investment in fields related to science, technology and innovation, ordering new products, investing in creative startups, etc.
The State Capital Management Committee at Enterprises shall strengthen inspection, supervision, urging, and approval of plans and programs, especially production, business, and investment development plans of economic groups and affiliated state-owned corporations, more clearly demonstrating its role in leading, motivating, paving the way, and promoting the development of other economic sectors; fully and promptly perform the tasks of the representative agency of the owner at enterprises according to regulations; proactively and resolutely handle arising problems of economic groups and state-owned corporations under the responsibility and authority of the representative agency of the owner.
Other ownership representative agencies need to be proactive and timely in better grasping the situation, especially the major difficulties and obstacles that are bottlenecks in the production, business and investment activities of enterprises. On that basis, promptly resolve issues within their authority; coordinate and make recommendations to ministries, branches or advise the Government to resolve outstanding issues and newly arising issues.
The Prime Minister also suggested that credit institutions and enterprises have a symbiotic relationship and need to promote the spirit of flexibility and creativity, "in me there is you, in you there is me", together to remove difficulties and bottlenecks in credit and capital sources.
In addition, the Prime Minister emphasized 6 guiding viewpoints to continue to improve operational efficiency and innovate the state-owned enterprise sector.
At the same time, the Prime Minister also pointed out 12 key tasks to improve operational efficiency, innovate the state-owned enterprise sector, promote production, business and investment development.
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