This is one of the messages and a lot of expectations that Prime Minister Pham Minh Chinh shared at the Government’s Spring Permanent Meeting with outstanding state-owned enterprises on March 3.
The Prime Minister believes that in the new integration context, these enterprises need to take the lead in innovation, grasp technology in emerging fields (high technology, semiconductor chips, etc.). State-owned enterprises should not operate individually but need to collaborate with foreign and private corporations to create value chains. This is the basis for this region to diversify markets, products, and supply chains.
In 2023, despite many difficulties in the economy, state-owned enterprises recorded a total revenue of 1.65 million trillion VND, and pre-tax profits of nearly 126,000 billion VND. These targets exceeded the plan by 4-8%. They also hold significant resources in terms of capital, assets, and attract 700,000 workers.
However, the Prime Minister believes that some corporations and state-owned enterprises have not made proper use of resources and have not demonstrated their leadership role. Many overseas investments have encountered difficulties, and some projects have accumulated large losses over many years, with inefficient restructuring. Some units have been involved in malpractice and corruption and need to be dealt with.
The reasons for this are that in some places and at some times, there is passivity and slow reaction to significant changes, and the restructuring is not appropriate. The Prime Minister believes that the spirit of innovation and creativity in some corporations and state-owned enterprises is limited, and there is fear of making mistakes and taking responsibility.
To overcome these challenges, the Prime Minister requests enterprises to innovate, restructure management, organization, and capital sources to improve production and business efficiency. The Prime Minister also emphasizes the role of the State Capital Investment Corporation (SCIC) in the use of capital for investment and development.
Regarding ministries and leaders of the Government, they are required to remove difficulties for enterprises with the spirit of “not waiting for them to ask, to beg, to take action.” The Prime Minister also assigns the Ministry of Planning and Investment to develop a plan for the management of state-owned enterprises, focusing on separating the functions of ownership and state management.
