Enhancing the role of the state economic sector - a view from Vietnam Airlines' practice

That is the content of the upcoming conference (November 10), jointly organized by the Editorial Board of the Communist Magazine, the State Capital Management Committee at Enterprises and the Party Committee of the Central Business Bloc in Hanoi with the theme: "Enhancing the role of the state economic sector in the socialist-oriented market economy in Vietnam - from the practice of Vietnam Airlines Corporation". It is urgent to strengthen the "health" of state-owned enterprises. The state economy plays a leading role, is the foundation for the development of industries and economic sectors in the national economy. Through the Party Congresses, the role of the state economy and state-owned enterprises has always been affirmed.

The reality of nearly 40 years of Doi Moi shows that, in addition to the mission of maintaining the socialist orientation for the market economy, the state economy has promoted its role in developing special sectors of the economy, making an important contribution to protecting national security and defense, acting as a counterweight in international competition, shouldering many social policies, ensuring social security, etc. State-owned enterprises, as the core part of the state economy, always hold an important position in the economy. Aviation is a particularly important industry, the lifeblood of the nation. Not only in economic development, aviation also plays an important role in security, military and national sovereignty issues. In Vietnam, as international integration becomes deeper and deeper, the role of aviation in promoting economic growth is increasingly affirmed. To become a new economic and tourism center of stature in Asia and the world, Vietnam needs focused investment to have a strong enough aviation enterprise, with a flight network and fleet large enough to be competitive with other centers in the region, realizing the goal of making Vietnam a regional center. As a state-owned enterprise, along with the brand of the National Airline, Vietnam Airlines Corporation is the right enterprise to implement the national strategy of developing Vietnam into a regional center. In the process of developing the country, integrating and opening up in recent years, Vietnam's aviation industry has continuously developed and achieved many achievements. However, the severe consequences of the Covid-19 pandemic along with the general difficulties of the economy have made it impossible for Vietnam Airlines Corporation to overcome the current difficulties and challenges on its own. The parent company's equity continues to be negative, accumulated losses remain high, the financial situation of Vietnam Airlines Corporation is still unbalanced, and the due and overdue debts are still very large. Therefore, it is necessary to continue to have solutions to overcome difficulties and innovate, improve the operational efficiency of Vietnam Airlines Corporation to overcome the crisis, recover soon and develop sustainably. In order to enhance the role of the state economic sector in the socialist-oriented market economy in Vietnam, it is extremely necessary to strengthen the financial health and competitiveness of state-owned enterprises in general, and of Vietnam Airlines Corporation in particular. This process requires the support of all levels of government as well as the efforts of the aviation industry itself. With that spirit, the Editorial Board of the Communist Magazine, the State Capital Management Committee at Enterprises and the Party Committee of the Central Enterprises Bloc jointly organized the workshop: " Enhancing the role of the state economic sector in the socialist-oriented market economy in Vietnam - from the practice of Vietnam Airlines Corporation ". Solving bottlenecks , bringing sustainable development to the aviation industry The Organizing Committee of the conference received nearly 30 presentations from experts, scientists, leaders and managers in different fields, focusing on 3 main groups of issues. Firstly , clarifying and affirming the position and role of state-owned enterprises in the socialist-oriented market economy. Secondly, assessing the current state of operations of state-owned enterprises in general, Vietnam Airlines Corporation in particular, clarifying achievements, limitations and bottlenecks. Thirdly, proposing, recommending and providing solutions for the reform of state-owned enterprises in general, Vietnam Airlines Corporation in particular. To achieve the goal of becoming an advanced airline, one of the leading airlines in the ASEAN region and Vietnam Airlines becoming a prestigious brand of Vietnam in the regional and international markets, the discussions at the Workshop focused on clarifying the following key groups of solutions: First , the State needs to promote the completion of the legal framework for the operation of the Vietnamese aviation industry in general and Vietnam Airlines Corporation in particular. Continue to support the sustainable development of the aviation industry through restructuring, improving solvency and debt settlement. Have policies to encourage, facilitate and support airlines to buy more aircraft, develop their fleets, and expand routes to meet development needs in the new situation. Second , resolve bottlenecks and obstacles to development for Vietnam Airlines Corporation. Support market expansion and improve competitiveness. At the same time, comprehensively assess the operating mechanism of state-owned enterprises in the industry and its impact on the development of the industry as well as the national economy, thereby identifying the key points that need to be improved in the coming period. Third , study the mechanism for assigning tasks to large-scale state-owned enterprises to implement large-scale investment projects that have a spillover effect, creating momentum for the country's socio-economic development. In the period of 2024 - 2025, one of the important national key projects that requires the presence of state-owned enterprises in the aviation sector is the Long Thanh International Airport project. As an enterprise with experience and strengths in the aviation industry, assigning state-owned enterprises such as Vietnam Airlines Corporation to participate in the Long Thanh International Airport project will promote the effectiveness of the project, facilitate trade, import and export and attract foreign investment. Source: https://daibieunhandan.vn/nang-cao-vai-tro-cua-thanh-phan-kinh-te-nha-nuoc-nhin-tu-thuc-tien-vietnam-airlines-post395722.html