The problem of achieving at least 8% growth this year and double digits in the coming period has more specific and feasible solutions from state-owned enterprises. However, feasibility still requires the participation of the entire system.
High growth possible from state-owned enterprise commitment
The problem of achieving at least 8% growth this year and double digits in the coming period has more specific and feasible solutions from state-owned enterprises. However, feasibility still requires the participation of the entire system.
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| Along with the commitments to strive for high growth, representatives of state-owned enterprises attending the Conference hope to soon have a clear legal corridor for this business sector. |
Commitment by numbers and projects
The problem of at least 8% growth in 2025 and double digits in the following period has been present in the investment and business plans of state-owned corporations and groups. Moreover, many solutions were given at the Government Standing Committee's meeting working with state-owned enterprises (SOEs), with the theme "Tasks and solutions to contribute to double-digit economic growth, rapid and sustainable national development", which took place on the morning of February 27.
As the first to speak, Mr. Le Ngoc Son, General Director of the Vietnam Oil and Gas Group (PVN), confidently accepted the task of "increasing investment by at least 15% compared to 2024", even though the situation this year is more unpredictable.
Specifically, PVN will focus on managing the investment portfolio, investment programs and investment projects, closely coordinating with domestic investors, promoting the progress of key projects, including the Lot B Power - Gas Project Chain, Nhon Trach 3-4 Thermal Power Plant Project, Dung Quat Oil Refinery Upgrade and Expansion Project...
“PVN's target of investing in new projects and promoting capital disbursement in 2025 is 60,750 billion VND,” Mr. Son committed.
The Military Industry and Telecommunications Group (Viettel) also gave very positive figures. For the telecommunications sector, the growth rate will be about 8-10% in the period 2025-2030; 25-30% for the digital technology sector and about 30% for high-tech industrial sectors.
In particular, Vietnam Electricity Group (EVN) also contributed to the solution to the problem of GDP growth in 2025 reaching 8% or more by committing to ensure adequate electricity supply in 2025 and the coming years.
“With the high growth target of the economy, the Group expects electricity demand to grow by 12-13% compared to 2024. This is a huge challenge for EVN in particular and electricity enterprises in general,” admitted Mr. Nguyen Anh Tuan, General Director of EVN.
To ensure implementation, EVN commits to focus all resources to promote and complete as quickly as possible, while ensuring the quality of power projects and works. In particular, striving to complete 253 110-500 kV power grid projects to enhance the capacity of transmission and distribution grid infrastructure, meeting the development needs of localities.
At the same time, strive to complete key projects, such as the Hoa Binh Hydropower Plant expansion, Quang Trach I Hydropower Plant connecting to the grid to generate power for unit 1, the 500 kV Lao Cai - Vinh Yen line, the 500/220 kV Nho Quan - Phu Ly - Thuong Tin line, supplying electricity to Con Dao district...
Behind the absolute values
If we only look at the capital demand for the entire Vietnamese economy this year, which is VND4 trillion, then the efforts to concentrate resources on investment projects of the state-owned enterprise sector are really only a part. According to the report of the State Capital Management Committee at Enterprises, in 2024, the consolidated investment value of 19 groups and corporations represented by the Committee is estimated to reach VND160,000 billion (equal to nearly 80% of the annual plan and 130% compared to the same period).
However, if we look at the portfolio of projects of enterprises and more, look at the development solutions that Mr. Tao Duc Thang, General Director of Viettel said are "both renewing the old and maintaining the new space", then the growth resources of this area do not stop at absolute numbers.
“We have received many requests from localities and large enterprises for consulting on digital transformation solutions. This is a growth opportunity for us, but it is also the basis for growth drivers for other localities and enterprises,” Mr. Thang analyzed the development opportunities in the digital technology industry after Resolution 57 of the Politburo on breakthroughs in science, technology, innovation and national digital transformation was issued. Many traditional business areas, such as Viettel's telecommunications, will have the opportunity to contribute to growth, although there is not much room left, thanks to the technology content to have newer and better products.
Similarly, Viettel's commitment to continue establishing large delivery centers at border gates is also seen as contributing to increasing production productivity and the circulation of goods in the economy. Even the goal of 5G coverage in urban areas and industrial parks is calculated in the direction of expanding connectivity for people, thereby promoting opportunities for small and medium enterprises as well as individuals seeking growth from connectivity...
“Although the target is very challenging, 8% this year and double digits in the period up to 2030, we believe it can be achieved when we determine that the products we make must create an ecosystem for other businesses to develop together,” Viettel General Director shared his opinion.
However, in the report of the Ministry of Finance at the Conference, the desire to create spillover effects of the business sector seems to be still very limited.
On the one hand, the reasons are that the operational efficiency is not commensurate with the resources held; competitiveness and science and technology are still limited; investment efficiency has not met expectations; business management tools are still slow to innovate... But on the other hand, the opinions of enterprises show that the policy mechanism still does not seem to really support the large investment plans, innovative and creative investments of this business sector.
Even though Resolution 57 is expected to be a “very important driving force” for the breakthrough growth plans of many businesses, the opinion is still to hope that the guiding documents will be in the direction of “life entering policy”, instead of “forcing policy into life”... And it must be fast, because to achieve current industrial achievements, businesses had to start ten years ago, with many failures.
“We really need a specific mechanism to boldly invest in innovation and creativity,” Mr. Thang shared.
Corridor for State-owned enterprises
The desire to soon have a clear legal corridor for state-owned enterprises continues to be a recommendation mentioned by many businesses.
In the report of the Ministry of Finance, this plan has also been set out, in the direction of completing and submitting to the National Assembly to promulgate the Law on Management and Investment of State Capital in Enterprises (replacing Law 69) to remove difficulties, obstacles, and bottlenecks that have limited the operations of SOEs in the recent past.
In particular, policies are built with a new, clear approach and more power for state-owned enterprises, clearly assigning and strongly decentralizing the management of state capital invested in enterprises, increasing initiative in decisions on using investment capital and purchasing assets to serve the production and business activities of enterprises.
In particular, the separation and demarcation of state management functions from the functions of capital owners and enterprises will reduce the intervention of the owner's representative agency, increase the assignment and decentralization associated with inspection and supervision to enhance autonomy and self-responsibility and limit loss, waste, embezzlement and corruption...
However, businesses have made more specific proposals. The General Director of PVN proposed decentralizing investment decisions to businesses for total investments of up to VND5,000 billion, or 50% of charter capital; the owner's representative agency decides on investment policies of up to VND10,000 billion; the Prime Minister decides on investment policies of over VND10,000 billion.
Mr. Nguyen Anh Tuan, General Director of EVN, even proposed a decentralization plan according to the Enterprise Law, which means creating conditions for businesses to be more proactive, because most of EVN's projects are over 5,000 billion VND...
Mr. Vu Anh Tuan, General Director of Vietnam National Coal - Mineral Industries Group (TKV) continues to propose early approval of the adjustment to increase charter capital to ensure the goal of developing TKV into a strong economic group, contributing to ensuring national energy security, ensuring sufficient charter capital for TKV to have its own capital and mobilize capital from credit institutions to participate and effectively and on schedule implement investment projects to expand production with increasingly high coal output for the economy, as well as ensuring national energy security according to the tasks assigned by the State...
The Prime Minister said that our country is implementing very large programs and projects, such as completing 3,000 km of highways by 2025; building airports, ports, North-South high-speed railways, railways connecting China, urban railways, etc.
In terms of society, there are two major programs: the social housing construction program and the program to eliminate temporary and dilapidated houses nationwide, with the goal of making policies for young people, the disadvantaged, low-income people, and workers to have a place to live. We develop quickly, but must be sustainable and inclusive, leaving no one behind.
The Head of Government affirmed that everyone must make efforts, but efforts and attempts must be methodical, appropriate, scientific and effective. Therefore, the question is how to do it, what do businesses do, what do people do, what does the State do, what does the Central Government do, what does the locality do to achieve the double-digit target?
The Prime Minister emphasized that the State must be creative, businesses must be pioneers, and the people are the foundation and strength; it is necessary to create momentum for the entire nation and mobilize people to participate.
Source: https://baodautu.vn/muc-tang-truong-cao-kha-thi-tu-cam-ket-cua-doanh-nghiep-nha-nuoc-d249636.html
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