Vietnam's SOEs have total asset value of over $157 billion

Khanh Minh Thursday | 09/14/2023 13:30

Photo: VGP

Vietnam has nearly 680 SOEs with a total asset value of VND3.8 quadrillion ($157.08 billion), including VND1.7 quadrillion of State budget, PM Pham Minh Chinh told a meeting on Thursday.

As of the end of 2022, Vietnam had 478 enterprises with 100% of charter capital held by the State and 198 others with State investment, according to a report by the Ministry of Planning and Investment.  

In the first six months of 2023, total revenue generated from SOE business and production activities hit VND 580.5 trillion, equivalent to 53.7% of the yearly target and representing a 4% rise year on year.

SOEs with strong performance in recent years include Vietnam Oil and Gas Group (Petrovietnam), Vietnam Electricity (EVN), Vietnam National Coal and Mineral Industries Group (Vinacomin), Vietnam National Petroleum Group (Petrolimex), Vietnam Posts and Telecommunications Group (VNPT), and Mobifone.

SOEs should perform the key position and act as an important force in the state-owned economic sector, making important contributions to maintaining macro-economic stability and promoting socio-economic development, PM Chinh underlined.

He asked the meeting participants to focus on evaluating the operations of SOEs and identifying the reasons behind their weaknesses. He also asked ministries, sectors, and localities to listen to the firms’ opinions and seek solutions to remove difficulties facing them, especially in the manufacturing-processing industry.

In the first eight months of this year, despite impacts from the world situation, the country maintained an uptrend in socio-economic development, with all major balances ensured.

In the period, state budget collection reached 69.4% of the yearly estimate, while public debts, government debts, and foreign debts, as well as state budget over-expenditure, were kept under good control, he said, adding that the country enjoyed a trade surplus of $20.2 billion.

Source: VietnamPlus

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