Effective tool for macroeconomic regulation

The report released at the Conference shows that in 2024, the country will have 671 SOEs, including 473 enterprises in which the State holds 100% of the charter capital, and 198 enterprises in which the State holds more than 50% of the charter capital. In 2024, the total assets of SOEs will be more than 5.6 million billion VND, equity capital of nearly 3 million billion VND, total revenue of nearly 3.3 million billion VND, pre-tax profit of more than 227 thousand billion VND. Thus, although the number of SOEs, also known as corporations and general companies (TCty) only accounts for a small proportion of the total of nearly 1 million enterprises operating in our country; they play an important role and position, holding important material forces of the economy, affirming the view that the state economy plays a leading role.

From policies, guidelines, viewpoints, reality, to social concepts, we must admit that when mentioning SOEs, or corporations, they have great power, which is very admirable. Therefore, many private enterprises also use the phrase "corporation" in their enterprise names such as "Group Joint Stock Company...", "Group LLC...", in the hope that their enterprises will develop and become as strong as SOEs. According to legal regulations (Clause 1, Article 2 of Decree 69/2014/ND-CP), economic groups and corporations have parent companies organized in the form of single-member LLCs owned by the State; or the parent company is a joint-stock company, LLC with two or more members with controlling shares and capital contributions from the State. The Government is the agency that considers, selects and proposes the establishment of corporations. Such a clear analysis shows that SOEs carry both great responsibilities and glorious missions.

Over the past time, the role of the state-owned enterprise sector has continued to be affirmed and promoted as an effective tool for the State to regulate and stabilize the macro-economy; create motivation, lead and develop enterprises in other economic sectors, support and overcome shortcomings of the market economy, contributing to promoting the country's socio-economic development.

In 2025, the Government strives to achieve the GDP growth target of 8% and double-digit growth in the following years, the role of SOEs is increasingly important. SOE projects focus on important and key sectors and fields of the economy, contributing to the implementation of the socio-economic development goals of the whole country. With their strength and role, SOEs can lead the establishment of technical standards, digital models, and effective operating procedures to guide the entire industry.

At the Conference, the Prime Minister noted that in the development process, people are the most important factor; and in SOEs, the staff is the most important. Also at the Conference, the Prime Minister twice noted that in the new context, SOEs must coordinate with each other, learn from each other, support each other and with private enterprises better, and make joint efforts to "make a storm out of a few", creating breakthrough developments. Along with responsibility, patriotism, and exemplary pioneering spirit, SOEs will certainly not disappoint the trust and expectations of the Party, the State, and the People.

Huynh Ngoc Hieu

Source: https://baophapluat.vn/cong-cu-huu-hieu-dieu-tiet-kinh-te-vi-mo-post545524.html