Hanoi (VNS/VNA) – Vietnam aims to see at least 30 State-owned enterprises (SOEs) with net revenue exceeding 1 billion USD each by 2030, according to a finance ministry strategy on developing the State economic sector.
The goal is stated in a political report from the Party Committee of the Ministry of Finance (MoF) submitted to the MoF’s Party Congress for the 2025-30 term, according to the MoF's news portal.
According to the plan, five years from now, the SOE sector aims to see at least 25 SOEs with equity or capitalisation values exceeding 1 billion USD, of which 10 SOEs will have equity or capitalisation values exceeding the 5 billion USD mark.
Vietnam currently has 76 enterprises in the Fortune 500 Southeast Asia list, with some SOEs holding high positions.
The report notes that by the end of 2024, the total assets of 671 SOEs reached more than 5.6 quadrillion VND (about 215 billion USD), up 45% compared to 2023. Both revenues and pre-tax profits of the SOEs also showed good growth, with nearly 3.3 trillion VND and 227.5 trillion VND recorded, respectively.
To promote the State economy, the Government is developing a State Economic Development Project to effectively use public resources and contribute to achieving a double-digit growth target.
In the 2026-30 period, Vietnam aims to achieve GDP growth of at least 10% per year, an average income of 8,500 USD, public debts of around 45% of GDP and inflation of 4-4.5%.
Registered FDI is expected to be 200-300 billion USD, with a localisation rate of more than 40% by 2030./.
SOEs’ growth crucial for nation’s sustainable development: PM
The PM highlighted the important role played by SOEs in the national economy, noting that although the number of groups and corporations represents only a small percentage of the nearly 1 million businesses operating in Vietnam, they hold a key position as a significant material force of the economy, and production and business activities in main economic and technical sectors.
