Increasing the efficiency of State-owned corporations has long been recognised as vital to Vietnam’s economic sector, and this was reinforced once more during a working session between representatives from State-owned groups and corporations and the steering committee responsible for reviewing the success of reforms.

For five years, State groups have been implementing a resolution reached during the Party Central Committee’s sixth plenum, which targets the perfection of a socialist-oriented market economy mechanism.

During the meeting, participants discussed the role of the public sector in building the economy, and debated how they can best achieve success in line with socialist principles.

They exchanged feedback about the difficulties they have faced in their attempts to improve management, including the difficulties in accessing State funding and implementing equitisation.

State-owned groups and corporations in Vietnam operate in a large scale, with several complex management structures. They are actively working to restructure themselves in order to improve efficiency, help stabilise the macro economy and boost economic growth.-VNA