PM Chinh speaks at the conference.
Prime Minister Pham Minh Chinh emphasized the vanguard role of State-owned enterprises (SOEs) in leading digital transformation and driving growth, while chairing a conference with leaders of 68 SOEs operating in key industries in Hanoi on April 15.
In his opening speech, Chinh highlighted major rapid, complex, and unpredictable changes globally in recent times that have been making a significant impact on economies, including Vietnam.
As a developing country with a transitioning economy and a relatively modest economic scale, Vietnam is highly open to the world, meaning it is vulnerable to external shocks, he said.
According to the PM, despite numerous challenges in recent years, including the COVID-19 pandemic, ongoing global conflicts, supply chain disruptions, and natural disasters, Vietnam has overcome these difficulties thanks to unity and solidarity, in which SOEs play a vital role.
In the face of adversity, he said, the entire Party, people, and society, including businesses, particularly SOEs, must make greater efforts, given that the state sector plays a leading role in the economy.
“We must keep a cool head, avoid panic or complacency under any circumstances, and continue to foster independence, confidence, self-reliance, resilience, national pride, and the courage to break through our own limitations to innovate and move forward boldly and decisively,” stared the PM.
He affirmed that alongside routine tasks, Vietnam is also focused on strategic missions, such as creating breakthroughs in science, technology, innovation, and digital transformation; restructuring and streamlining the political system; and accelerating international integration in the new context, while contributing responsibly to the global community.
He stressed that the country aims for GDP growth of 8% in 2025, moving towards double-digit growth in subsequent years - a target deemed feasible given its strategic and long-term internal strengths, supplemented by external resources. It has a young and abundant labour force, strategic geographic location, untapped natural resources, and a rich and heroic cultural-historical tradition.
Leaders of relevant ministries, agencies and 68 major SOEs attend the conference
The PM requested that each State-owned group and corporation grow stronger, step up, and participate more actively in achieving the three strategic breakthroughs, namely infrastructure, institutional reform, and human resources development.
To this end, he asked them to promote science and technology, innovation, and digital transformation; stimulate growth drivers; diversify markets, products, and supply chains; and focus on domestic market development while exploring new markets, and integrating into global supply chains.
“We should not rely on a single growth driver, market, product, or supply chain,” he emphasised.
The Prime Minister stressed that SOEs must act with the highest sense of responsibility, national pride, and leadership by example. They must also improve collaboration with private enterprises to create synergy, generate breakthroughs, and ensure clarity in roles, responsibilities, timelines, deliverables, and accountability.
The conference was held to reach consensus in awareness, action, and methodology among SOEs, particularly in the context of emerging trade wars. This is the second time this year such a conference has been held with the participation of leaders of many ministries, agencies and major SOEs.
The Prime Minister maintained that SOEs must not only overcome difficulties, but perform better than expected, aiming to achieve the 8% growth target, control inflation, stabilize the macroeconomy, ensure major economic balances, safeguard livelihoods and employment, and improve people’s living standards.
