The Prime Minister requested to continue promoting the pioneering and leading role of state-owned enterprises in the economy; state-owned enterprises need to be the pioneering and leading force in innovation, digital transformation, and economic restructuring associated with growth model innovation.
On the morning of March 3, in Hanoi, the Government Standing Committee held a spring meeting with typical state-owned enterprises (SOEs). Prime Minister Pham Minh Chinh and Deputy Prime Ministers Le Minh Khai and Tran Luu Quang co-chaired the event.
In his concluding remarks, Prime Minister Pham Minh Chinh affirmed that the Government is always by the side of SOEs, FDI enterprises and domestic private enterprises; emphasizing the viewpoint of developing SOEs quickly, sustainably and in the right direction, contributing to the implementation of the policy of the state economy playing a leading role in the economy, in which SOEs play a pioneering and core role.
The Prime Minister delivered a concluding speech at the Government Standing Committee's spring meeting with typical state-owned enterprises - Photo: VGP/Nhat Bac
The mission of state-owned enterprises is to promote their pioneering, leading and exemplary roles.
The Prime Minister emphasized that we are on the right track following the Party's guidelines and policies, the State's policies and laws, with a theoretical system and a path of development towards socialism that has been basically completed, in line with Marxism-Leninism, Ho Chi Minh's thought, historical and cultural traditions, the country's conditions and circumstances, and the practical situation and requirements of each revolutionary stage.
The Prime Minister requested that SOEs need to creatively apply the State's guidelines, policies, and laws, based on their functions, tasks, powers, responsibilities, patriotism, national pride, and perseverance in overcoming difficulties and challenges.
Analyzing the mission of state-owned enterprises, the Prime Minister stated: The state economy plays a leading role, so the mission of state-owned enterprises is to promote the pioneering, leading, exemplary role, worthy of the trust of the Party, State and people, to be an important, core force, a key position, promoting and leading economic development, worthy of the efforts and sacrifices of previous generations, to be proud of and promote the glorious tradition through many generations, the efforts and achievements in recent years.
Appreciating the reports and comments of the delegates, the Prime Minister acknowledged the important and positive contributions of the business community in general and SOEs in particular to the development of the country. Emphasizing the great and historical achievements of the country after nearly 40 years of renovation, rising strongly after war, siege and embargo, our country has never had such a foundation, potential, position and international prestige as today, the Prime Minister also affirmed the very basic achievements and results of SOEs with the spirit of pursuing, keeping up, progressing together and surpassing, with many specific examples of SOEs rising up in the face of difficulties.
There are many difficulties in 2023, but the total revenue of SOEs will reach about 1.65 million billion VND, exceeding the plan by 4%, pre-tax profit will be about 125.8 trillion VND, exceeding the annual plan by 8%, and the state budget contribution will be estimated at about 166 trillion VND, exceeding the annual plan by 8%.
State-owned enterprises continue to hold large resources in terms of capital, assets, technology, and high-quality human resources, contributing significantly to the state budget and creating jobs for workers. State-owned enterprises contribute about 28% of the state budget revenue, attracting about 0.7 million workers.
State-owned enterprises continue to do well in preserving and developing capital and assets, making efforts to apply modern technology and management, improving production and business efficiency. Some large enterprises, groups and corporations have advanced in new technology, pioneered in the application of science and technology, and innovated. The business activities of some large groups and enterprises have made much progress. State-owned enterprises contribute to training high-quality human resources.
The Prime Minister also stated: Production and business activities of state-owned enterprises are basically stable, but there are still some enterprises making losses, some corporations and general companies have not achieved their production and business plan targets, some corporations and general companies have negative profits, including large-scale enterprises with important roles.
Prime Minister talks with delegates attending the Conference - Photo: VGP/Nhat Bac
Although SOEs, especially corporations and general companies, have made great efforts to implement new investment projects, they are still not commensurate with the resources assigned to them; investment efficiency is not as expected, overseas investment is facing difficulties, some projects with large investment capital are not successful, there are potential risks, some projects have accumulated large losses for many years, and restructuring methods are not effective.
Competitiveness and science and technology are still limited, not meeting the requirements of being the core force of the state economy, especially in the context of the 4th industrial revolution. Business administration innovation is still slow, not really oriented towards international principles and practices, production and business costs are still high, technology and business administration tools are still slow to innovate.
The results of public investment disbursement are limited, not reaching the national average in 2023. The proportion of investment in leading and motivating industries and fields, especially new industries such as clean energy production, renewable energy, high technology, semiconductor chips, hydrogen has not been prioritized, and there are no large-scale investment projects to create breakthrough momentum and spillover effects.
Some enterprises have committed violations, corruption, and negativity, and must be dealt with. State-owned enterprises have not yet demonstrated a leading role.
The reason is that in some places and at some times, we are still passive and confused in the face of major changes, policy responses are not timely, restructuring is not appropriate to the situation; the spirit of innovation in some corporations and general companies is still limited, there is still fear of mistakes and responsibility, and some policies and regimes are not suitable.
The Prime Minister emphasized the need to learn from experience, point out the causes of shortcomings, strictly handle those who make mistakes and violate, but not to falter because of that; must be politically sensitive, economically astute, scientifically and technologically profound, turn the situation around, and change the state using all available thinking and experience combined with the world's experience; must be more proactive in proposing new ways of doing things to accelerate and overcome.
According to the Prime Minister, state-owned enterprises must confidently move forward, not be arrogant in victory, not be discouraged in defeat, create new motivation, new spirit, new achievements, new victories. It is important to promptly detect difficulties and obstacles, promptly respond to policies, develop mainly based on science and technology, innovation, taking people as the center, the subject, the goal, the driving force, and the resource for development.
The Prime Minister believes that SOEs will definitely succeed as their leaders have held many different positions, experienced many difficulties and challenges to mature, and have enough capacity and qualifications to handle sudden and arising problems.
The Prime Minister emphasized that SOEs need to restructure their governance, specifically restructuring their operating apparatus to be lean, effective and efficient...- Photo: VGP/Nhat Bac
Promoting the pioneering and leading role in the economy
In the coming time, the Prime Minister requested to continue to thoroughly grasp and effectively implement Directive No. 07/CT-TTg of the Prime Minister dated February 22, 2024 on innovation in governance, improving production and business efficiency and strongly promoting investment and development of corporations, general companies, state-owned enterprises and other relevant instructions and conclusions.
Emphasizing some additional contents, the Prime Minister requested to continue promoting the pioneering and leading role of SOEs in the economy; SOEs need to be the pioneering and leading force in innovation, digital transformation, and economic restructuring associated with growth model innovation.
Continue to improve the operational efficiency and competitiveness of SOEs in the direction of improving quality, specifically researching and cooperating to implement a number of new energy and technology projects following the shifting trends in the world, focusing on renewing traditional growth drivers (investment, export, consumption), while promoting new growth drivers related to digital transformation, green transformation, circular economy, knowledge economy, sharing economy, and climate change response.
Strengthening links with domestic enterprises of different economic sectors, creating domestic supply chains, reducing dependence on foreign countries.
Promote digital transformation and application of science and technology, encourage the formation of innovation centers in enterprises, create breakthrough momentum, improve productivity, quality, efficiency and competitiveness; promote effective implementation of restructuring projects, development strategies, annual and 5-year production, business and investment development plans that have been approved, reviewed, supplemented and adjusted to suit the situation.
Review and evaluate the current status of enterprises and investment projects, increase investment to improve innovation capacity, innovate management models in a modern direction, in line with international practices; streamline the apparatus, continue to restructure member units, divest capital in weak, loss-making, ineffective units, maintain holdings, increase capital in production and business enterprises in line with the main industry.
Focus on building brands, correctly assessing and promoting the potential differences, outstanding opportunities, and competitive advantages of each SOE to rise up. Resolutely handle existing problems and weak projects based on considering overall benefits, not local benefits.
Emphasizing that the right strategy will help overcome challenges, the Prime Minister emphasized the need to restructure governance, specifically restructuring the operating apparatus to be lean, effective and efficient, restructuring the workforce towards improving quality and reducing quantity; restructuring capital, ensuring safety, developing capital, focusing on investment and development; restructuring production and business towards closely following the market, respecting the laws of supply and demand, the laws of competition; improving competitiveness and resilience to economic shocks both domestically and abroad; ensuring growth, thereby contributing to overall growth, the state budget, and improving the lives of workers.
Do a good job of disbursing public investment capital; promote the implementation of key national projects, unleash the resources of state-owned enterprises at the same strategic level, overcome the situation of scattered, dispersed, and fragmented investment, ensure focus, attract social investment, and mobilize social resources. The Prime Minister gave an example, the construction of the 500 kV line 3 Quang Trach-Pho Noi must mobilize the strength of localities and enterprises, create competition, and fight monopoly in the construction of this power transmission line.
Prime Minister talks with delegates attending the Conference - Photo: VGP/Nhat Bac
The Prime Minister noted promoting the role of the State Capital Investment Corporation (SCIC); using capital for development investment.
"What I most want, the message I want to convey is that SOEs must play a pioneering and leading role in innovation, science and technology, and emerging industries; on that basis, diversify markets, products, supply chains, and link with foreign corporations, groups, and private groups to create value chains, not doing business alone in the current context of integration," said the Prime Minister.
Regarding ministries and branches, the Prime Minister requested that based on their functions, tasks and powers, they must be active, proactive and responsible in helping businesses, creating conditions and opportunities for businesses to develop, "not waiting for businesses to come and ask for help, then doing things", effectively coordinating with businesses to remove difficulties, overcome challenges, promote strengths, limit weaknesses, move forward, keep up and rise up, and accelerate development.
Ministries and branches continue to perform the assigned tasks in Resolution No. 68/NQ-CP dated May 12, 2022 of the Government on continuing to innovate, improve operational efficiency and mobilize resources of SOEs, focusing on economic groups and corporations in socio-economic development; Directive No. 12/CT-TTg dated May 6, 2023 of the Prime Minister on tasks and solutions to innovate the operations of the State Capital Management Committee at enterprises and improve operational efficiency, promote investment resources of 19 affiliated economic groups and state corporations.
The Prime Minister assigned the Ministry of Planning and Investment to preside over and develop a project on state management of state-owned enterprises, in the direction of separating the ownership function and the state management function; the State Capital Management Committee at Enterprises to review the Committee model, propose to perfect related regulations and be more proactive and active in its operations.
Localities must also actively participate, promote and multiply good models such as Becamex Binh Duong; contribute to the building of institutions, building staff, and building monitoring mechanisms to ensure the healthy and effective operation of state-owned enterprises.
Inheriting President Ho Chi Minh's vision that "the state-owned economy is a form of ownership of the entire people, it leads the national economy and the State must ensure its priority development", at the same time developing state-owned enterprises to ensure competition according to the market mechanism; promoting the core role of state-owned corporations and groups, using the country's large resources, creating motivation and foundation for socio-economic development and being a tool to lead and orient other economic sectors, the Prime Minister believes that with the existing capacity and experience, the correct guidelines of the Party, the management of the State, state-owned enterprises will continue to maintain and promote the momentum of development, the ideology must be clear, the determination must be high, the actions must be drastic, the work must be focused, the work must be completed thoroughly, for the strength and prosperity of the country, for the happiness and prosperity of the people.
Source: VGP
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