SOEs

The PM highlighted the important role played by SOEs in the national economy, noting that although the number of groups and corporations represents only a small percentage of the nearly 1 million businesses operating in Vietnam, they hold a key position as a significant material force of the economy, and production and business activities in main economic and technical sectors.

Vietnam should not rely on a single market or a single growth driver like export, Prime Minister Pham Minh Chinh said, stressing the need to diversify products, and production and supply chains to sustain growth.

Deputy Prime Minister Ho Duc Phoc has requests ministries, agencies and localities to finalize plans for restructuring their State-owned enterprises (SOEs) in the first quarter of 2025.

With various drastic and flexible measures taken to boost production, business and investment activities and carry out assigned political tasks, 19 groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) have posted significant growth, contributing to maintaining macro-economic stability, a CMSC representative has said.