EACH CITY & PROVINCE IN VN WILL HAVE A BECAMEX
On the afternoon of June 15, Vietnamese Prime Minister Pham Minh Chinh chaired a conference focusing on the role of state-owned enterprises in promoting economic growth, stabilizing the macro economy, and ensuring major economic balances.
The Prime Minister emphasized the critical role of state-owned enterprises in regulating production, providing essential goods and services, and supporting socioeconomic recovery. He highlighted the need for these enterprises to act as pillars and pioneers in the economy, especially during challenging times. Chinh urged the development of large-scale, competitive enterprises to lead the industrialization and modernization of the country, referencing Resolution 29, which advocates building significant state-owned and private enterprises with international competitiveness.
Chinh expressed his vision that each ministry and sector should have a successful model like Viettel, and each province and city should have an enterprise like Becamex. He stressed the importance of replicating successful models to enhance economic development.
The Prime Minister outlined “5 pioneers” for state-owned enterprises:
- Innovation and mastery of science and technology.
- Effective international integration and investment.
- Efficient exploitation of national resources and anti-corruption efforts.
- Development and implementation of breakthrough policies for national growth.
- Training high-quality human resources and smart management.
According to the Ministry of Planning and Investment, the consolidated revenue of 19 state-owned groups and corporations in the first five months of 2024 was approximately 823.2 billion VND, with a profit of 28.3 billion VND and a budget contribution of 70.8 billion VND.
From 2020 to 2023, total revenue for state-owned enterprises increased significantly, from 1.61 million billion VND in 2020 to 2.3 million billion VND in 2023. Profits of 60 state-owned enterprises saw a slight overall increase of 10.234 billion VND during this period, despite a slight decrease in 2023.
High-profit corporations included ettel Group, Vietnam National Oil and Gas Group (PVN), Vietnam Coal and Mineral Industry Group (TKV), Airports Company of Vietnam (ACV). However, some corporations, like Vietnam Airlines Corporation and EVN, incurred losses due to COVID-19 and political obligations.