Minister Nguyen Chi Dung: State-owned enterprises’ contributions are not commensurate with their potential

Enterprise The state’s contribution is not commensurate with its potential

Speaking at the Prime Minister’s nationwide online conference with State-owned enterprises (SOEs) on March 24, Minister of Planning and Investment Nguyen Chi Dung said that in the past five years, the National Assembly, The Government and the Prime Minister have promulgated quite fully and synchronously mechanisms and policies to regulate the activities of State-owned enterprises (SOEs), creating a legal framework for SOEs to organize the implementation of production activities. export business and has achieved some important results.

According to Minister Nguyen Chi Dung, SOEs also play a dominant role in a number of important industries and fields such as oil and gas, electricity, finance, banking, telecommunications, transport infrastructure, and production and supply. some basic input materials for the economy.

Investment activities of SOEs in key and important sectors, fields and areas of the economy have helped reduce the burden from the State budget in the implementation of important infrastructure investment projects. thereby, contributing to the process of restructuring the economy in association with renovating the growth model.

However, according to Minister Dung, despite achieving some of the above important results, the activities and contributions of the SOE sector in recent years have not been commensurate with their potential, especially the resources they hold and the market. is dominating.

Specifically, corporations and corporations have basically failed to fulfill their role of leading and motivating the economy and the competitiveness, application of science, technology, and innovation of these companies. Large-scale SOEs are still limited, unable to meet the requirements of being the core force of the state economy.

In addition, the implementation of new investment projects of SOEs in recent years has not been promoted. The comprehensive restructuring of new SOEs mainly focuses on reorganization, equitization and divestment to have a more reasonable structure, but has not focused on implementing breakthrough orientations and solutions in science and technology and innovation. innovation, high-quality human resources and a viable long-term business strategy.

Notably, some SOEs still lack a strategic vision to develop their businesses, especially participating in global value chains and reaching out to the world.

Enhancing the operations of SOEs

From the actual practice of SOEs in recent years, as well as in the context that the Government is continuing to make efforts to develop solutions to promote business activities, the Ministry of Planning and Investment proposes a number of decisions. direction to improve the performance of SOEs.

Firstly, the key task in the coming period is to increase investment, increase innovation and apply science and technology, improve operational efficiency so that SOEs can fulfill their position and role of paving the way and leading; together with the domestic private sector to build an independent, self-reliant and resilient economy towards the goal of becoming a powerful and prosperous country by 2045 as determined by the 13th National Congress.

Secondly, it is necessary to associate the development of SOEs with the implementation of the development strategy of sectors and fields of the economy. Clearly identify key industries and fields that need the presence of SOEs in line with the country’s sustainable development orientation (such as renewable energy, high-tech industry, important national infrastructure …).

Third, it is necessary to change awareness and views on equitization and divestment of state investment in enterprises. The goal of equitization and divestment is not to withdraw state capital from SOEs, narrowing the scope and scale of the SOE sector, but to restructure the investment portfolio to improve quality and efficiency. and the investment value of the State in enterprises in general and of each SOE in particular.

Fourth, build and develop a synchronous national database system on SOEs and State assets for assessment, monitoring and supervision; Thereby, having appropriate orientation to improve production and business efficiency of SOEs.

Fifth, ministries, branches and localities, especially the Committee for the Management of State Capital at Enterprises, need to change the way they work, proactively implement fully and effectively the owner’s rights at enterprises. in accordance with international laws and practices; does not interfere in the business administration and management process at the enterprise.

Sixth, to improve the state management of state-owned enterprises by assigning a ministry to act as the focal point for state management to supervise the operation of the owner’s representative agency, develop orientation develop and improve the operational efficiency of state-owned enterprises.