Economy

Prime Minister requests restructuring of state-owned enterprises to increase initiative

TN (according to Tuoi Tre) March 3, 2024 10:02

On the morning of March 3, the Government Standing Committee held a spring meeting with outstanding state-owned enterprises. Prime Minister Pham Minh Chinh and Deputy Prime Ministers Le Minh Khai and Tran Luu Quang co-chaired the event.

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Prime Minister Pham Minh Chinh attended the meeting. Photo: VGP

In his opening speech, the Prime Minister said that 2024 is the year to accelerate the implementation of the tasks set out in the Resolution of the 13th National Party Congress. In particular, the active contribution of state-owned enterprises is very important.

Regarding the shortcomings, the Prime Minister said that this conference is to exchange and share experiences, remove difficulties, overcome challenges in 2024 to move towards better years to come.

State-owned enterprises play a role in driving growth.

The head of the Government emphasized that state-owned enterprises must actively invest and develop production and business. It is necessary to renew old driving forces such as consumption, investment and export, with a leading and motivating role.

Focus on new industries such as digital transformation, green transformation, circular economy, knowledge economy, sharing economy...

Mr. Chinh also hopes that in difficult times, businesses can prove themselves, both preserving and developing capital, ensuring the lives and jobs of workers, and actively participating in social security on the basis of innovative working methods.

In the context of the country promoting three strategic breakthroughs, he hopes that state-owned enterprises will continue to actively contribute to building and perfecting institutions, developing infrastructure, and developing human resources.

State-owned enterprises need to focus on restructuring three major contents including governance; human resources, apparatus, restructuring capital sources to ensure efficiency; restructuring supply chains, input materials to increase autonomy, and limit imports.

He hopes that businesses will exchange frankly, look straight at the truth, with a constructive spirit, with hope and new motivation. The goal is for state-owned enterprises to promote their leading role, "dare to speak, dare to think, dare to do, dare to take responsibility".

Holding total assets of 3.82 million billion VND

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The Government Standing Committee held a spring meeting with typical state-owned enterprises. Photo: VGP

According to a report by the Ministry of Planning and Investment, by the end of 2023, Vietnam will have 676 state-owned enterprises, including 478 enterprises in which the State holds 100% of charter capital and 198 enterprises in which the State holds controlling shares.

Total assets of state-owned enterprises are VND 3.82 trillion, up 4% compared to 2022; total equity is VND 1.8 trillion. The group of corporations, general companies, and parent-subsidiary companies has total assets of VND 3.51 trillion; equity is VND 1.6 trillion.

The total value of state capital invested in enterprises is 1.69 million billion VND. Total revenue reached 1.6 million billion VND, pre-tax profit was 125,847 billion VND, and budget payment was 166,218 billion VND.

Particularly, 19 corporations and general companies under the State Capital Management Committee at Enterprises and Viettel Group had revenue of 1.3 million billion VND, accounting for 79% of total revenue of all state-owned enterprises.

The total profit generated by enterprises was VND125,847 billion, reaching 108% of the approved plan. Some state-owned enterprises have a high rate of completing profit plans such as Viettel, State Capital Investment Corporation (SCIC) reaching 225% of the plan...

TN (according to Tuoi Tre)
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