Contributions of State-Owned Enterprises and Corporations to the State Budget in 2023

Recently, Prime Minister Pham Minh Chinh chaired a working conference with the State Capital Management Committee for enterprises and 19 corporations and general companies to discuss the implementation of production and business plans for 2024 and promote investment for socio-economic development.

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On February 5, Prime Minister Pham Minh Chinh chaired a working session with the State Capital Management Committee at Enterprises and 19 groups and corporations to implement production and business plans for 2024 and promote investment in socio-economic development. Photo: VGP

According to the report on the operations in 2023, the 2024 production and business plans, and the promotion of investment in socio-economic development of the enterprises under the State Capital Management Committee, in 2023, the total revenue of the parent company of 19 groups and corporations reached nearly VND 1,135 trillion, equal to 105.15% of the 2023 plan.

The profit before tax reached VND 53,256 billion (excluding Vietnam Electricity Group – EVN), equivalent to 166.09% of the 2023 plan and 110.92% compared to the same period in 2022. The contribution to the state budget by the groups and corporations reached over VND 79,252 billion, equal to 199.96% of the 2023 plan and 120.22% compared to the same period in 2022.

Specifically, 15 out of 19 groups and corporations have completed and exceeded the plan for revenue; 16 out of 19 groups and corporations have completed and exceeded the plan for profit before tax (except for Vietnam Airlines, which reduced losses compared to the plan); 16 out of 19 groups and corporations have completed and exceeded the plan for contributing to the state budget.

Moreover, the Committee together with the groups and corporations have made efforts to address difficulties and obstacles in the implementation of many investment projects in energy infrastructure, transportation – logistics in 2023, including many large and important projects, which were delayed for many years.

Some typical projects can be mentioned, such as: Construction of Ben Luc – Long Thanh expressway; Thivaai LNG import port with a capacity of 1 million tons (completed and put into operation since October 29, 2023); investment in the construction of container terminals No. 3 and No. 4 at the Hai Phong International Gateway Port; component project 3 – phase 1 of Long Thanh International Airport; construction of T3 passenger terminal at Tan Son Nhat International Airport; expansion of T2 – Noi Bai International Airport terminal; construction of T2 terminal – Phu Bai International Airport (completed and put into operation since April 28, 2023), and construction of the expansion of Dien Bien Airport (completed and put into operation since December 2, 2023)…

Speaking at the conference, Prime Minister Pham Minh Chinh highly appreciated the efforts and achievements of the State Capital Management Committee for enterprises (the Committee) and 19 groups and corporations in the past time, contributing to the implementation of the country’s socio-economic development plan in 2023.

The Prime Minister mentioned some specific examples of the results, successes, and existing limitations, challenges of the groups and corporations, such as the 500 kV circuit 3 of EVN, which was unable to be implemented for many years but is now being resolutely built and expected to be completed in 6 months; PVN after a period of difficulties, has achieved very positive results in recent years; The Airports Corporation of Vietnam, which has been sluggish in previous years, has been making many efforts to change, especially in the construction of Long Thanh Airport; Vietnam Railway Corporation, after many years of losses, has made effective innovations and has gained profits in 2023; the changes in the implementation of the Lot B – O Mon gas projects after many years of delays…

The Prime Minister also gave an example that in 2023, when the Government directed to increase rice exports while prices were rising, there were also concerns in the context of complex world situation. However, according to the Prime Minister, the life cycle of rice plants nowadays is only about 3 months, and rice reserves are ensured, so we need to take advantage of the opportunity to export. The result is that we have achieved record rice exports, ensured domestic food balance, and contributed to global food security.

In addition to the outstanding achievements, the Prime Minister also noted that the companies must not be complacent, contented with their achievements and results. The Prime Minister pointed out the existing limitations and challenges in the operation of the groups and corporations, such as the still existing difficulties in mechanisms and policies; limited investment for development, the disbursement rate of public investment is lower than the national average; the contribution to GDP growth is not proportionate to the resources; the business investment efficiency is not high.

In 2024, the groups and corporations must achieve higher results than in 2023

Analysing the situation in the coming time, the Prime Minister said that 2024 is of great importance, it is the turning point to implement the 2021 – 2025 economic – social development plan. While the international and domestic situation is expected to continue to have advantages, opportunities, difficulties, and challenges, in which the difficulties and challenges are expected to be more numerous.

“The requirement for 2024 for the whole country and for the groups and corporations is to achieve higher results than in 2023”, the Prime Minister emphasized.

To successfully complete the assigned tasks and objectives in 2024 and in the 2021-2025 period, the State Capital Management Committee at Enterprises and the 19 groups and corporations must have a thorough understanding of the situation and strictly follow the conclusions and resolutions of the Central Party, the National Assembly, and the Government, specifically and concretely in order to carry out the objectives and tasks of 2024 with the theme: “Resolute responsibility, proactive timely, accelerating innovation, sustainable efficiency”; state-owned enterprises must operate according to the market mechanism oriented towards socialism.

Regarding specific tasks in the coming time, the Prime Minister emphasized several tasks such as ensuring there is no power shortage for the groups and corporations, especially the Vietnam Electricity Group; the Vietnam Oil and Gas Group must ensure sufficient oil and gas according to plan; the Coal and Minerals Group must ensure sufficient coal based on long-term planning; the Iron and Steel Corporation must complete the Phase 2 expansion of the Thai Nguyen Steel Plant (TISCO 2) project; Vietnam Airlines must cut losses and address outstanding issues; the Vietnam Oil and Gas Group must not have oil and fuel shortages…

The Prime Minister instructed the relevant agencies to adjust electricity prices in a suitable, gradual, and transparent manner; the Ministry of Industry and Trade should improve the mechanism for managing petroleum business points in a simplified, easy to inspect and monitor manner…

Regarding personnel, the Prime Minister required the right arrangement of personnel based on the standards, conditions, procedures, and regulations of the Party and the State, ensuring transparency, democracy, objectivity, and transparency.

The Prime Minister once again required that the overall achievements and results of the groups and corporations must be higher next year compared to the previous year, specifically in terms of production and business efficiency, investment for development, contribution to the budget, and higher growth than in 2023, better anti-corruption, negative factors, and waste reduction, contribute more to social security, contribute to the realization of the goals of building a powerful and prosperous country, bring increasingly happy and prosperous life to the people.

SOURCEcafef
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