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SOEs urged to focus on development investment

VGP - Prime Minister Pham Minh Chinh has tasked 19 State-owned groups and corporations under the Commission for Management of State Capital at Enterprises (CMSC) to speed up socio-economic development investment in 2024.

February 05, 2024 5:30 PM GMT+7
SOEs urged to focus on development investment- Ảnh 1.

Prime Minister Pham Minh Chinh meets with leaders of 19 State-owned groups and corporations, Ha Noi, February 25, 2024 - Photo: VGP/Nhat Bac

The Government chief made the request on February 5 while chairing a working session with the Commission for Management of State Capital at Enterprises (CMSC) and 19 groups and corporations to discuss measures to promote socio-economic development investment in 2024.

The SOEs were asked to analyse and assess their performance in 2023 and propose tasks and solutions to promote business and production in 2024, contributing to boosting socio-economic development this year and following years.

They were requested to review and propose any necessary changes to institutions, mechanisms, policies and laws to enhance the operational efficiency of the groups and corporations.

The Government chief urged the SOEs to renovate the three growth driving forces namely investment, export and consumption and supplement new ones such as green growth, digital transformation, green transformation, circular economy, knowledge economy and sharing economy.

Last year, the 19 firms’ total revenue reached VND1.13 quadrillion, equivalent to 105.1 per cent of this year’s target. The pre-tax profit reached approximately VND53.26 trillion, representing 166.1 percent of the target this year and 110.9 percent of last year’s result.

The 19 groups include the Viet Nam National Oil and Gas Group (PetroVietnam), Viet Nam Electricity (EVN), Viet Nam National Coal and Minerals Holding Group (Vinacomin), Viet Nam Post and Telecommunication Group (VNPT), MobiFone, Viet Nam Airlines, Airport Corporation of Viet Nam (ACV), Viet Nam Railway, Viet Nam Expressway Corporation (VEC), Viet Nam National Shipping Lines (Vinalines), Viet Nam National Petroleum Group (Petrolimex), Viet Nam National Chemical Group (Vinachem), Viet Nam National Tobbacco Corporation (Vinataba), Viet Nam Rubber Group (VRG), Viet Nam National Coffee Corporation (Vinacafe), Viet Nam Forest Corporation (Vinafor), Viet Nam Northern Food Corporation (Vinafood 1), Viet Nam Southern Food Corporation (Vinafood 2) and State Capital Investment Corporation (SCIC)./.