The Cabinet continued its monthly meeting in Hanoi on September 6 by discussing a project to renovate and improve the efficiency of State-owned enterprises (SOEs).

According to Minister of Planning and Investment Bui Quang Vinh, the project focuses on summarising the renovation, development and improvement in efficiency of SOEs since 2001 to ensure the State sector’s core role in Vietnam ’s socialist-oriented market economy.

This will be a basis for the Government to put forward its ideas as well as the way forward over the next 10 years, he said.

After analysing the achievements, shortcomings and limitations of SOEs, the project continued to affirm the role the State sector plays, in which SOEs are an important force that helps the State direct and regulate the economy.

Ensuring that SOEs are under control and responsible are both necessary during reforms but they must also be placed under a close and effective supervision mechanism.

Strengthening the leadership of the Party and promoting the mastery of workers and the role of mass organisations at all levels are also important for improving the efficiency of SOEs’ operations.

The project’s objective, by 2020, is to complete the reforms, restructuring, development and improvement of efficiency and competitiveness of SOEs, so that they can provide essential public services, meet the necessary demands for defence and security and implement national development tasks.

Speaking at the discussion, Prime Minister Nguyen Tan Dung said that improving the efficiency of SOEs is a difficult job, as there are many different points of view and approaches on the issue.

Therefore, we must be objective in assessing our achievements and shortcomings,” he noted.

He also asked the Ministry of Planning and Investment and ministries and agencies to clarify the criteria in order to make objective and scientific assessments on the role, operational efficiency and contributions of SOEs.-VNA