State-owned enterprises implement "5 pioneers" to contribute to national development

Photo caption — Prime Minister Pham Minh Chinh arrives at the Prime Minister's Conference to work with state-owned enterprises

Also attending the conference were Deputy Prime Ministers Le Minh Khai and Le Thanh Long; leaders of central ministries and branches and more than 150 economic groups, enterprises and state-owned commercial banks.

Important contribution to the country's economic development

At the conference, leaders of ministries and sectors, especially business leaders, focused on assessing the situation, role and contribution of state-owned enterprises to socio-economic development; in particular, giving advice and proposing tasks and solutions for the whole country to effectively implement two important goals: controlling inflation and promoting growth.

The conference noted that in the context of the world situation continuing to develop in a complicated and unpredictable manner, while the domestic economy still has internal problems, the Government and the Prime Minister closely follow the situation, direct and manage decisively and closely. Therefore, the macro-economy is basically stable, core inflation is under control, and major balances are ensured.

State budget revenue in the first 5 months is estimated to reach 52.8% of the yearly estimate, up 14.8% over the same period. Total import-export turnover in the first 5 months increased by 16.6% over the same period; trade surplus was 8.01 billion USD. The index of industrial production (IIP) in May is estimated to increase by 3.9% over the previous month and by 8.9% over the same period. Many international organizations continue to positively assess and forecast optimistically about Vietnam's economic growth in 2024. In the overall results of the whole country, there are important contributions from state-owned enterprises.

In 2023 alone, the total revenue of state-owned enterprises will reach more than 1,652 trillion VND, reaching 104% of the plan; profit will be more than 125 trillion VND. Of which, 19 corporations and general companies under the State Capital Management Committee at Enterprises and Viettel Group will have a revenue of more than 1,300 trillion VND, accounting for 79% of the total revenue. The total amount of taxes and payments to the State budget of the state-owned enterprise sector is more than 166 trillion VND, reaching 108% of the approved plan.

In the first 5 months of 2024, the consolidated revenue of 19 corporations and general companies under the State Capital Management Committee at Enterprises is estimated at more than VND 823 trillion, equal to 112% over the same period; Pre-tax profit is estimated at more than VND 28 trillion, equal to 133% over the same period; the value of payment to the state budget is estimated at more than VND 70 trillion.

However, the production and business activities of some enterprises are still at a loss; the disbursement results of investment capital of many large-scale state-owned enterprises have not met the plan; the proportion of investment in leading and motivating industries and fields, especially in new fields such as clean energy production, chip, microchip, semiconductor, hydrogen production... have not been considered and prioritized; the competitiveness, application of science and technology and innovation, green transformation, digital transformation of state-owned enterprises are still limited; innovation in corporate governance is still slow...

Concluding the conference, Prime Minister Pham Minh Chinh conveyed the greetings and best wishes of General Secretary Nguyen Phu Trong to the delegates attending the conference; hoping that State-owned enterprises would promote the spirit of initiative and creativity, achieve more success, and fulfill their tasks well for the country and people.

Expressing gratitude to state-owned enterprises for their important contributions to the country's socio-economic development since the beginning of the term, especially in 2024, contributing to the implementation of the Government's important tasks, Prime Minister Pham Minh Chinh pointed out that 2024 is a year of acceleration, extremely important for the implementation of the 5-year socio-economic development plan 2021 - 2025. From now until the end of the year, in addition to some basic advantages, it is forecasted that the situation will continue to develop rapidly and complicatedly, posing more difficulties and challenges.

In that context, to maximize the advantages of resources and mobilize the maximum participation and contribution of state-owned enterprises in promoting growth, stabilizing the macro-economy and ensuring major balances of the economy, the Prime Minister requested leaders of corporations and general companies to thoroughly grasp a number of viewpoints and orientations on innovation and improving the operational efficiency of the state-owned enterprise sector.

The Prime Minister emphasized that it is necessary to always clearly identify the leading role of the State economy and State-owned enterprises as the core important force for the task of socio-economic development, promoting stable macroeconomic growth and ensuring major balances; requiring the promotion of the spirit of autonomy, self-responsibility, creativity and patriotism, and responsibility of cadres, civil servants, public employees, and State-owned enterprises to carry out this noble task and mission, focusing on digital transformation, green transformation, circular economy, especially in the semiconductor chip manufacturing industry, artificial intelligence, etc.

Along with that, continue to effectively implement the approved restructuring projects, development strategies, annual and 5-year production, business and investment development plans of enterprises; thoroughly handle long-standing backlog issues; focus on improving the efficiency of production and business activities of State-owned enterprises in a fundamental, comprehensive, systematic and sustainable manner; accelerate the progress and improve the quality and efficiency of investment and development projects of State-owned enterprises to promote the 3 traditional growth drivers, new growth drivers, as well as 3 strategic breakthroughs; prioritize the formation and development of ethnic enterprises and large-scale enterprises to promote the pioneering role of a number of important industries and fields with competitive advantages and the ability to lead the process of industrialization, electrification and modernization of the country.

State-owned enterprises implement 5 pioneering

Wishing that each industry has an enterprise like the Military Industry - Telecommunications Group (Viettel); each locality has an enterprise like the Industrial Development and Investment Corporation (Becamex), Prime Minister Pham Minh Chinh requested State-owned enterprises to be pioneers, including: Pioneering in innovation, application and mastery of science and technology in the era of industry 4.0; Pioneering in international integration and effective investment abroad; Pioneering in effectively exploiting the country's resources, along with actively promoting the prevention and fight against corruption and negativity; Pioneering in researching, proposing and implementing breakthrough mechanisms and policies to develop the country, including enterprise development, socio-economic development along with social security; Pioneering in training high-quality human resources and smart governance in enterprise development.

Assigning specific tasks to State-owned enterprises in each industry and field such as: electricity and petroleum supply; food; public services..., the Prime Minister requested ministries, branches and localities to reform administrative procedures, improve the investment and business environment, create favorable conditions for enterprises; closely monitor, support, coordinate and accompany enterprises, including State-owned enterprises, in the spirit of "thinking honestly, speaking honestly, doing honestly, having real effectiveness, people benefiting truly" and "saying must do, committing must do, implementing must have practical and specific results".

The Prime Minister also assigned specific tasks to each ministry and sector, including continuing to perfect the legal framework for State-owned enterprise management; having a special mechanism for ordering State-owned enterprises; clearly identifying the agency representing the ownership of a number of large-scale enterprises; continuing to promote decentralization and delegation of authority; granting autonomy and self-responsibility to enterprises; having a number of incentives on finance and administrative procedures, linked to the role and responsibility of State-owned enterprises; considering having a policy package with a large enough scale, suitable and feasible to support enterprises, especially "leading" enterprises, ethnic enterprises and promoting new growth drivers, new industries and fields such as: chips, semiconductors, digital transformation, green transformation; reviewing and removing difficulties and obstacles to promote the implementation of large and key investment projects...

Informing that the Government and the Prime Minister are always receptive and listen to the recommendations of enterprises, including state-owned enterprises, Prime Minister Pham Minh Chinh hopes and believes that with the core role of corporations and general companies in managing and using the country's enormous resources; with the solidarity, unity, high determination, great efforts, and drastic actions of ministries, branches, and localities, state-owned enterprises will continue to promote the achieved results, steadfastly overcome all difficulties and challenges, and strive to excellently complete the general task of 2024, which is to promote growth, control inflation, maintain macroeconomic stability, and ensure major balances of the economy in accordance with the spirit of "growing from one's own hands, minds, and horizons; turning nothing into something, turning difficult into easy, turning the impossible into possible; discussing, not retreating".

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