HCMC – Vietnam has set a target of having at least 30 state-owned enterprises (SOEs) generate more than US$1 billion in net revenue each by 2030, under its new strategy for developing the state-owned economy.
The goal was outlined in the political report of the Finance Ministry’s Party Committee submitted to its 2025-2030 congress, the ministry’s online portal said.
Accordingly, the state sector is aiming for at least 25 enterprises with equity value or market capitalization above US$1 billion by 2030, including 10 exceeding US$5 billion.
The country also targets no fewer than 30 SOEs generating over US$1 billion in net revenue by then.
For the private sector, the ministry aims to have two million operating businesses by 2030, with annual growth of 10-12%, outpacing GDP expansion. By then, at least 20 major private firms are expected to join global value chains.
Vietnam already has 76 companies on the Southeast Asia Fortune 500 list, with several state-owned conglomerates ranking near the top.
By the end of 2024, the combined assets of Vietnam’s 671 SOEs had risen 45% from a year earlier to over VND5.6 quadrillion (US$220 billion), the report showed. Revenue reached nearly VND3.3 quadrillion, while pre-tax profit came to about VND227.5 trillion.
To boost the state economy, the Government is drafting a plan to improve the efficiency of public resources and help achieve double-digit growth targets.
Vietnam has set 2026-2030 targets of at least 10% annual GDP growth, per capita income of US$8,500, public debt at about 45% of GDP, and inflation between 4% and 4.5%. Registered foreign direct investment is projected at US$200-300 billion, with local content expected to top 40% by 2030.
