Party General Secretary Nguyen Phu Trong has called on 75,000 party members employed by corporations and banks to work harder to accomplish their objectives of business and production development.

Speaking at a meeting to review the last five years of the Party Committee of the Central y-run Business Bloc in Hanoi on Aug. 22, Trong was full of praise for the achievements gained by the Party Committee and its affiliates nationwide in the context of the global economic and financial crisis and difficulties and challenges that many state corporations had been coping with.

"Despite all this you have accomplished the tasks that the Party and Government assigned you. You have supplied essential commodities to the national economy and provided jobs for many people to ensure stable incomes," Trong said.

He said State corporations play a key role in helping the Party and Government regulate the market and stabilise the macroeconomy while promoting national economic development and defending the homeland.

In the past five years since April 2007 when the Party Committee of the Central y-run Business Bloc was established, annually, State corporations and groups have contributed about 40 percent of GDP – a key factor to ensure the success of social security programmes.

Trong said the bloc has made remarkable progress, particularly in the fields of personnel planning and training for future leaders.

However, he also criticised weaknesses in Party building work in many parent and affiliate companies.

"Production efficiency at many state corporations and banks has not met their potential given the amount of State investment and advantages they have been given. Many corporations have invested in non-core business activities causing huge losses to the State while undermining the reputation of State enterprises."

He asked all business party committees to pay more attention to the work of party building – a very important task laid down in Resolution 4 of the Party Central Committee.

"Strong party building work will ensure the effective implementation of political tasks assigned by the Party and Government, and promote business and production development," Trong said.

In his report, Bui Van Cuong, alternat member of the Party CC and Secretary of the Party Committee of the Central y-run Business Bloc, said that at present the bloc had nearly 75,000 party members in 1,108 affiliate party committees and 4,798 party cells nationwide.

"We have realised our key role in national socio-economic development. We have successfully completed many projects, particularly in the northwestern and Central Highlands regions," Cuong said.

In the past five years, State corporations and groups have extended support of 1,480 billion VND (72.2 million USD) to 54 of the 62 poorest districts in the country, and contributed 6 trillion VND (292.7 million USD) to national social security programmes.-VNA