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PM calls on SOEs to contribute more to economy

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh has urged State-owned enterprises (SOEs) to improve their performance and play a greater role in fueling economic growth.

He was speaking at a meeting held in Hanoi yesterday, February 5, with leaders of the Commission for Management of State Capital at Enterprises (CMSC), and senior executives of 19 SOEs to review their performance in 2023 and discuss action plans for 2024.

In 2023, 15 out of 19 SOEs beat their revenue targets while 16 out of 19 earned more pre-tax profit than estimated.

These SOEs made substantial contributions to the country’s socioeconomic development by initiating key infrastructure projects in energy and transportation sectors. Projects like Ben Luc-Long Thanh expressway, the LNG 1 MMTPA Thi Vai warehouse, and the expansion of the Haiphong International Gateway Port were among their notable achievements.

However, PM Chinh pointed out certain shortcomings at some SOEs, including delays in the implementation of the 500-kV circuit 3 power transmission line project by the Vietnam Electricity Group (EVN).

He stressed the importance of improving SOEs’ efficiency and their contributions to the country’s GDP and State budget.

In 2024, the Government leader outlined several tasks for SOEs, including ensuring an adequate supply of electricity, oil, gas, and coal, completing key infrastructure projects, and enhancing operational efficiency and profitability.

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