Politics

State-owned firms asked to help motivate growth of other economic sectors

Prime Minister Pham Minh Chinh has asked the Commission for Management of State Capital at Enterprises (CMSC) to build and implement future development strategies for State-owned groups and corporations under its management, with a view to better clarifying their role in leading, motivating and promoting the growth of other economic sectors.
State-owned firms asked to help motivate growth of other economic sectors ảnh 1Prime Minister Pham Minh Chinh addresses the working session (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh has asked the Commission for Management of State Capital at Enterprises (CMSC) to build and implement future development strategies for State-owned groups and corporations under its management, with a view to better clarifying their role in leading, motivating and promoting the growth of other economic sectors.

Speaking at a working session with the commission and 19 groups and corporations under its management in Hanoi on February 5, PM Chinh instructed that the commission should focus on removing legal obstacles to create a favourable legal framework for the SOEs, while intensifying supervision and power control. 

He required that the SOEs must pay more attention to investment in development with clear focus and priority, and restructure their administration, finance, input materials and fields of operation in line with the development trends. 

The CMSC and the 19 State-owned groups and corporations must strictly follow conclusions and resolutions of the Party Central Committee, the National Assembly and the Government in implementing their goals and tasks for 2024, the PM said, adding that the groups and corporations must operate in line with the socialist-oriented market mechanism. 

State-owned firms asked to help motivate growth of other economic sectors ảnh 2Illustrative image (Source: VNA)
Last year, the total revenue of the 19 groups and corporations reached nearly 1.13 quadrillion VND (46.34 billion USD), equivalent to 105.15% of the yearly plan.

Their combined pre-tax profit hit 53.25 trillion VND (excluding Vietnam Electricity) was equal to 166.09% of the 2023 plan and 110.92% compared to the same period in 2022. The groups and corporations paid 79.25 trillion VND to the State budget, reaching 199.96% of the plan for the year and equivalent to 120.22% of the figure recorded in the same period of 2022.

Particularly, of the 19 groups and corporations, 15 completed and surpassed their revenue plans, 16 reached and exceeded their pre-tax profit plans, and 16 completed and surpassed their State budget payment plans.

However, PM Chinh pointed out that the firms have shown a number of shortcomings, including limited development investment, inadequate contributions to the GDP compared to asset values, and modest business and investment efficiency.

He demanded that ministries, sector and the CMSC coordinate closely to promptly handle problems related to the enterprises. 

At the same time, the PM emphasised the need to prevent and combat corruption, negative phenomena and group interest, and improve the living conditions for labourers.

He also reminded the groups and corporations of the need to ensure the supply of electricity, coal, petrol, and materials for production industries as well as transportation activities and national security and defence./. 
VNA
#Prime Minister Pham Minh Chinh #Commission for Management of State Capital at Enterprises (CMSC) #SOEs #market mechanism #supply of electricity #Vietnam #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam, China boost cooperation in SOE reform, development

Vietnam, China boost cooperation in SOE reform, development

Vietnam’s Committee for Management of State Capital at Enterprises (CMSC) and the State-owned Assets Supervision and Administration Commission of the State Council of China (SASAC) held a conference on reform and development of State-owned enterprises (SOEs) in Beijing on March 18.
State Capital Investment Corporation development strategy approved

State Capital Investment Corporation development strategy approved

Deputy Prime Minister Le Minh Khai has signed a decision approving the development strategy of the State Capital Investment Corporation (SCIC) until 2030 with a vision to 2035, as well as the business and investment plan of the firm until 2025, aiming to turn it into a financial investment organisation with the leading equity scale in Vietnam.

See more

Vietnamese Prime Minister Le Minh Hung (centre) meets with Head of the Republic of Tatarstan Rustam Minnikhanov (right). (Photo: VNA)

Vietnamese Prime Minister meets with Head of Republic of Tatarstan in Kazan

PM Hung emphasised that Vietnam always treasures ​​its traditional friendship and Comprehensive Strategic Partnership with Russia, and wants to maintain and strengthen cooperation in various fields for the common benefit of both nations, and for stability and development in the region and the world.

Standing Vice President of the Ho Chi Minh National Academy of Politics Le Hai Binh presents a gift to Bodo Ramelow, Vice President of the German Bundestag. (Photo: VNA)

Vietnam, Germany deepen educational cooperation

German businesses operating in Vietnam have consistently expressed their satisfaction with the country's dynamic and stable economy, as well as their confidence in its long-term growth prospects, said Vice President of the German Bundestag Bodo Ramelow.

General Secretary of the Communist Party of Vietnam (CPV) Central Committee and State President To Lam (right) receives Lao Deputy Prime Minister and Minister of Justice Khamphan Phommathat. (Photo: VNA)

Top leader calls for stronger Vietnam–Laos judicial cooperation

The top leader stressed that ministries, sectors and localities of the two countries, including the two justice ministries, had made important contributions to the bilateral ties. Vietnam consistently regards strengthening relations with Laos as a strategic priority and stays ready to share development experience with its neighbouring nation.

Politburo member, Secretary of the Party Central Committee and head of the committee's Commission for Information, Education and Mass Mobilisation Trinh Van Quyet holds a meeting with Canadian Ambassador to Vietnam Jim Nickel on June 16, 2026. (Photo: VNA)

Vietnam, Canada seek deeper cooperation in media, education and innovation

Vietnam is taking a range of coordinated measures to unlock new drivers of development as it works towards achieving its two centenary goals. Along this journey, the country places great importance on cooperation with Canada, particularly in science and technology, innovation, and the training of all-level officials.

Prime Minister Le Minh Hung is welcomed at Gabdulla Tukay Kazan International Airport in Kazan, the capital of the Republic of Tatarstan, Russia on June 16 afternoon (local time). Photo: VNA

Prime Minister arrives in Kazan to attend ASEAN–Russia Commemorative Summit

As an important bridge between Russia and ASEAN, Vietnam has consistently been among the most active supporters for expanding Russia’s cooperation with ASEAN. The country has proposed numerous initiatives and recommendations to strengthen ASEAN–Russia relations and has supported Russia’s more active participation in ASEAN-led mechanisms.

Vietnamese Minister of Justice Hoang Thanh Tung (R) and Lao Deputy Prime Minister and Minister of Justice Khamphan Phommathat meet in Hanoi on June 16. (Photo: VNA)

Vietnamese, Lao justice ministers vow deeper collaboration during talks

Vietnamese Minister of Justice Hoang Thanh Tung urged deeper exchanges of experience in legal development, enforcement, judicial reform, personnel training, and digital transformation, as well as coordinated steps to fast-track the approval and launch of the Vietnamese Government’s technical assistance project to strengthen the capacity of Lao judicial officials.

An overview of the 36th meeting of States Parties to the United Nations Convention on the Law of the Sea (Photo: VNA))

Vietnam presides over opening session of 36th meeting of States Parties to UNCLOS

Against the backdrop of mounting challenges facing the oceans, including climate change, marine pollution, biodiversity loss, maritime security concerns, and the impacts of emerging technologies, Permanent Deputy Foreign Minister Nguyen Minh Vu called for stronger international cooperation and greater resource mobilisation to protect the oceans and ensure a peaceful, secure, and sustainable marine environment.

NA Chairman Tran Thanh Man speaks at the conference (Photo: VNA)

Conference mulls over legislative roadmap for 16th NA’s term

In his keynote speech, NA Vice Chairman Nguyen Khac Dinh presented the conclusion as a strategic vision for legal reform in the new development period. It spells out concrete goals, nine major orientations, six bundles of tasks and solutions, and assigns specific duties to the relevant bodies.

Prime Minister Le Minh Hung departs Hanoi on June 16, 2026 to attend the ASEAN–Russia Commemorative Summit and conduct bilateral activities in Kazan, Russia from June 16 to 18. (Photo: VNA)

PM departs for ASEAN – Russia Commemorative Summit

PM Hung’s participation in this summit once again reflects Vietnam’s consistent foreign policy of independence, self-reliance, resilience, peace, friendship, cooperation and development, as well as the diversification and multilateralisation of external relations in line with the spirit of the 14th National Party Congress.