Promoting the role of state-owned enterprises in rapid and sustainable economic development

Consolidate and promote the leading role in important and essential sectors and fields

The Directive clearly states: In order to continue promoting the leading role, improving production and business efficiency, promoting investment and development of state-owned enterprises, contributing to the successful implementation of socio-economic development goals and tasks in 2025, especially contributing to promoting double-digit economic growth, developing the country quickly and sustainably in the following years, the Prime Minister requests the Chairmen of the Board of Members, General Directors of Groups, Corporations, State-owned enterprises, Ministers, Heads of agencies, Chairmen of People's Committees of provinces and centrally-run cities to focus on directing the drastic, synchronous and effective implementation of key tasks and solutions.

In the context of the rapidly changing, complex and unpredictable regional, global and domestic situation, state-owned enterprises are required to change, respond more quickly, more promptly, adapt more flexibly and effectively, and meet the requirements of the new situation.

The SOE sector continues to consolidate and promote its dominant and leading role in important and essential sectors and fields of the economy, contributing to the construction and development of the socio-economic infrastructure system and economic restructuring; it is an important tool to stabilize the macro-economy, cope with market fluctuations, control inflation, carry out national defense and security tasks and implement social security policies.

State-owned corporations and groups continue to maintain their core positions and roles, promoting their leading and leading roles in important economic sectors and fields, meeting consumer needs and providing essential goods for the people, serving the country's economic development and ensuring security and defense, especially ensuring energy security; ensuring a large balance and supplying important products and services for the economy such as electricity, coal, gasoline, basic chemicals, etc.

Recognizing and clearly defining the tasks and missions of SOEs is to promote the rapid and stronger development of our country's economy, but must be sustainable, contributing to the implementation of the two 100-year strategic goals; SOEs must continue to promote their pioneering and leading role in the economy, and be the leading vanguard force.

State-owned enterprises do not just stop at maintaining stability but also need to innovate thinking, be creative in their methods of operation, improve production and business efficiency. Directive 09/CT-TTg emphasizes the spirit of new thinking - new motivation - new strength and encourages enterprises to take advantage of technology, digital transformation and innovation, towards sustainable development and deeper international integration.

Focus on developing infrastructure projects, especially key projects with high spillover effects, contributing to promoting socio-economic development, accelerating investment progress of projects, construction, ensuring construction progress, capital disbursement progress, striving to exceed assigned plans, creating a premise to lead and mobilize social investment capital.

Six pioneering areas

The Directive requires corporations, general corporations and state-owned enterprises to promote patriotism and aspiration, contributing to the country's rapid and sustainable development; to look far and wide, think deeply, and act big with a practical approach, responding flexibly, appropriately and effectively to the rapidly evolving situation. Accordingly, with the spirit of "open institutions, smooth infrastructure, smart governance", state-owned enterprises must proactively develop specific tasks and solutions to develop enterprises, contributing to the goal of economic growth and national development, focusing on pioneering in six areas:

(1) Pioneer in innovation, digital transformation, development and application of science and technology in the spirit of Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo.

(2) Pioneer in making more positive and effective contributions to the three strategic breakthroughs, especially institution building. Institutional breakthroughs are the bottleneck of bottlenecks.

(3) Pioneer in accelerating and breaking through growth, making practical and effective contributions to the country's rapid, inclusive and sustainable growth and development.

(4) Pioneer in developing digital economy, green economy, circular economy, sharing economy, knowledge economy, in investment in research and development.

(5) Actively take the lead in implementing social policies and social security to ensure fairness and progress, leaving no one behind in the country's development process, especially in the social housing program and eliminating temporary and dilapidated houses nationwide.

(6) Pioneer in creating goods and products with Vietnamese brands, participating in global supply chains and value chains, enhancing the value of national brands, enhancing the value of the country's products, enhancing the country's position, participating in leading games related to global value chains.

Decisive Action - Realizing Growth Targets

To realize the set goals, Directive 09/CT-TTg requires ministries, branches, localities and ownership representative agencies to closely accompany SOEs, create favorable conditions in terms of mechanisms and policies and support enterprises to overcome difficulties.

In particular, the Ministry of Finance is assigned to urgently report to the Government on the plan to receive and complete the draft Law on Management and Investment of State Capital in Enterprises. It notes the issues of decentralization, personnel work, salary policy, increasing charter capital for enterprises... in the spirit of reviewing and evaluating the overall efficiency of enterprises, accepting risks; assigning goals, not holding hands, creating favorable conditions for enterprises to promote intelligence, dynamism, creating space for enterprises to be creative and responsible before the law. On that basis, closely coordinate with the Economic and Financial Committee of the National Assembly and agencies of the National Assembly to submit to the Standing Committee of the National Assembly, the National Assembly for approval at the 15th National Assembly session.

The State Bank is tasked with researching preferential credit policies and supporting capital for businesses investing in key areas such as digital transformation and green growth. Specifically, researching and implementing the recommendations of relevant banks to apply Basel III standards and a controlled testing mechanism (sand box) with the spirit of creating space for creativity and evaluating effectiveness.

Direct credit institutions to continue to reduce costs, increase the application of information technology, simplify administrative procedures, review and restructure the organizational apparatus, and be willing to share part of the profits to strive to reduce lending interest rates in the spirit of "harmonized benefits and shared risks"; review and classify subjects to reduce procedures and lending conditions to push credit capital faster, more promptly, and more effectively, especially for projects, programs, and sectors that create momentum for growth, digital transformation, and green growth; while ensuring the safety and rationality of banking operations. Continue to research and implement preferential credit packages to promote economic growth drivers, develop social housing, and create favorable conditions for young people under 35 years old to buy social housing.

The Directive assigns Deputy Prime Minister Ho Duc Phoc to directly command; Deputy Prime Ministers in their assigned fields focus on directing ministries, branches, localities, and owner representative agencies to urgently organize the implementation of assigned tasks, promptly handle arising issues within their authority; promptly report to competent authorities in cases beyond their authority.

The Government issued Resolution No. 58/NQ-CP dated March 21, 2025 dissolving the State Capital Management Committee at Enterprises. The Resolution takes effect from March 21, 2025.

The Government assigned the Ministry of Home Affairs to review and propose the abolition of Decree No. 131/2018/ND-CP dated September 29, 2018 of the Government stipulating the functions, tasks, powers and organizational structure of the State Capital Management Committee at enterprises in accordance with the provisions of law.