The Politburo’s Resolution 79 on the development of the state business sector has set a goal of having one to three state-owned enterprises (SOEs) among the world’s top 500 corporations by 2030. SOEs as backbone of Vietnam’s economy The Politburo has just issued Resolution 79 on the development of the state-owned economic sector, emphasizing the need to restructure, build, and strengthen SOEs so they can lead and shape the market. The resolution underscores that over 80 years of development, and especially nearly four decades of the national renovation process, the state sector has maintained a central role in driving growth and safeguarding national defense, security, and social objectives, yet it continues to face numerous shortcomings and limitations. The policy and legal framework for the state sector has evolved slowly, and the management and utilization of state assets and resources remain inefficient. Many SOEs are not operating commensurately with their mandates or resource bases and have yet to take the lead in innovation or in steering key strategic industries. Against this backdrop, the resolution sets out solutions centered on key state resources, including land, mineral resources, infrastructure assets, the state budget, national reserves, SOEs, and public service units. Specifically, it underscores […]