Prime Minister instructs state-owned enterprises to accelerate and grow rapidly

The Directive clearly states: In order to continue to promote the leading role, improve production and business efficiency, promote investment and development of state-owned enterprises, contribute 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 the following key tasks and solutions:

1. For Corporations, General Companies, and State-owned Enterprises: Require focus on thoroughly understanding and strictly implementing the following requirements:

(1) 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.

(2) The state-owned enterprise 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; 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, promote their dominant and leading roles in important economic sectors and fields, meet consumer demand and provide essential goods for the people, serve the cause of economic development of the country and ensure security and national defense, especially ensure energy security; ensure a large balance and supply important products and services for the economy such as electricity, coal, petroleum, basic chemicals, etc.

(3) Recognize and clearly define the tasks and missions of SOEs to promote the rapid and stronger development of our country's economy, but must be sustainable, contributing to the implementation of two 100-year strategic goals (striving to celebrate the 100th anniversary of the founding of the Party by 2030 to become a developing country with modern industry and high average income and by 2045 to celebrate the 100th anniversary of the founding of the country as a developed country with high income); therefore, SOEs must continue to promote their pioneering and leading role in the economy, being the leading vanguard force, specifically:

- We must continue to innovate, change our thinking and ways of doing things according to the motto that resources come from thinking, motivation comes from innovation, strength comes from the people and businesses; the approach and problem solving must be closely following reality, starting from reality, respecting objective reality, taking reality as a measure, innovating ways of doing things, improving efficiency and effectiveness. We must mobilize the strength of the people with the view that the people are the center and the subject of development.

- Corporations, General Corporations, and State-owned enterprises must contribute more in reviewing and synthesizing difficulties, problems, and shortcomings arising in practice, thereby proposing solutions and proposing to competent authorities to amend, supplement, and perfect open institutions in accordance with market rules, including the law of value, the law of supply and demand, and the law of competition.

- Must continue to diversify markets, diversify products, proactively and actively participate in the global supply chain, but ensure stability and sustainable development.

- Actively and proactively research and transfer new technologies to contribute to increasing labor productivity, reducing resource deficit, increasing intellectual content in products, and improving production and business efficiency.

- Strengthen the application of scientific and technological advances, innovation, smart management, and promote digital transformation in all aspects of operation.

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

- Continue to innovate personnel work, recruit and effectively use human resources; train high-quality human resources; attract and promote talents.

2. Require corporations, general corporations and state-owned enterprises to promote patriotism and aspiration, contributing to the country's rapid and sustainable development; must look far and wide, think deeply, do big things with a practical approach, respond flexibly, appropriately and effectively to the rapidly evolving situation. In 2025, in the context of the whole country accelerating and breaking through to reach the finish line, enterprises must accelerate, break through and reach the finish line earlier than other entities. Accordingly, with the spirit of "open institutions, smooth infrastructure, smart governance", state-owned enterprises must proactively develop specific tasks and solutions to develop enterprises, contribute to the goal of economic growth and national development, focusing on pioneering in 06 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 our country's products, promoting the influence of our country, participating in leading games related to global value chains.

3. Request ministries, branches, agencies, People's Committees of provinces and centrally-run cities and representative agencies of owners:

(1) With the view that the State plays a creative role, listens, receives, and promptly synthesizes difficulties and problems in practice as reflected by people and businesses; ministries and branches, based on their assigned functions, tasks, and powers, promptly handle or propose to competent authorities to resolve and remove them, especially regarding mechanisms and policies with the spirit of " 5 clear: clear people, clear work, clear responsibilities, clear time, clear results ".

(2) Focus on designing, building and implementing macroeconomic policies, maintaining political stability and social order and safety to contribute to promoting the development of state-owned enterprises and other economic sectors in the economy; at the same time, it is necessary to ensure macroeconomic stability, control inflation, promote growth and ensure major balances of the economy towards rapid and sustainable development.

(3) Focus on designing and using policy tools to mobilize social resources to the maximum, using public investment to lead private investment, mobilizing all social resources for development, promoting public-private partnership. Research, amend and perfect regulations on investment under the public-private partnership model; research and propose mechanisms and policies that are "leverages and fulcrums" to maximize enterprise resources, promote SOEs in particular and the business sector in general to develop and make breakthroughs.

(4) Continue to thoroughly grasp and perfect mechanisms and policies according to Resolution No. 58/NQ-CP dated April 21, 2023 of the Government on a number of key policies and solutions to support businesses to proactively adapt, recover quickly and develop sustainably by 2025, Resolution No. 158/2024/QH15 dated November 12, 2024 of the National Assembly on the socio-economic development plan for 2025, Resolution No. 01/NQ-CP dated January 8, 2025 of the Government on key tasks and solutions to implement the socio-economic development plan and state budget estimates for 2025, Resolution No. 25/NQ-CP dated February 5, 2025 of the Government on growth targets for sectors, fields and localities to ensure the national growth target in 2025 reaches 8%. or more... Pay attention to the work of building and perfecting institutions and policies; promptly resolve or report to competent authorities to resolve recommendations, remove difficulties and obstacles for businesses, review and cut administrative procedures to save costs for people and businesses, contributing to creating and promoting economic growth and national development.

(5) Resolutely and effectively implement the policy of streamlining and reorganizing the apparatus of agencies and organizations in the political system, ensuring quality and progress according to requirements; urgently perfecting institutions for the operation of the administrative apparatus from the central to local levels in the spirit of Resolution No. 18-NQ/TW and the direction of the Central Government, contributing to improving the capacity and effectiveness of State management of the business sector, including SOEs.

(6) Based on assigned functions and tasks, promptly review and effectively and promptly handle enterprises' recommendations, promptly inform enterprises of the handling results; and at the same time, send the handling results to the Ministry of Finance before March 29, 2025 for synthesis and reporting to the Prime Minister before March 31, 2025.

(7) Ministry of Finance: Urgently report to the Government on the plan to receive and complete the draft Law on Management and Investment of State Capital in Enterprises (replacing the Law on Management and Use of State Capital in Production and Business at Enterprises - Law No. 69/2014/QH13); in which attention should be paid to the issue of decentralization, personnel work, salary policy, increasing charter capital for enterprises... in the spirit of considering 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; in case of violations, handle them according to legal regulations; 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.

(8) State Bank of Vietnam: Research and implement recommendations from relevant banks to apply Basel III standards, a controlled testing mechanism (sand box) with the spirit of creating space for innovation 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, shared risks"; review and classify subjects to cut down procedures and lending conditions to push credit capital faster, more promptly, and more effectively, especially for projects, projects, and fields 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.

4. Assign Deputy Prime Minister Ho Duc Phoc to directly direct; 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 in this Directive, promptly handle arising issues within their authority; promptly report to competent authorities in cases beyond their authority.

5. The Government Office, according to its assigned functions and tasks, monitors and urges ministries, agencies, localities, corporations, general companies, and state-owned enterprises to perform their tasks as prescribed in this Directive.