Vietnamese PM Chairs Meeting with SoEs to Discuss 2024 Plans

Hanoi, Vietnam’s Prime Minister Pham Minh Chinh presided over a significant meeting with the State Capital Management Committee in Enterprises (CMSC) and 19 state-owned enterprises (SoEs) in Hanoi on Monday, focusing on the production and business plans for the year 2024.

According to the CMSC, the parent company of the 19 SoEs recorded a remarkable performance in the previous year, with revenue reaching nearly VND1,135 trillion (almost US$47 billion), equivalent to 105.15% of the 2023 plan. Pre-tax profits amounted to VND53,256 billion, excluding Electricity Vietnam (EVN), equivalent to 166.09% of the 2023 plan and 110.92% compared to the same period in 2022. The SoEs contributed over VND79,252 billion to the state budget, equivalent to 199.96% of the 2023 plan and 120.22% compared to the same period in 2022.

Prime Minister Chinh acknowledged the critical role played by the 19 SoEs in contributing to the country’s economic development amidst global challenges. He highlighted the achievements of various corporations, such as EVN’s progress on the 500 kV circuit 3 project, the Airports Corporation’s efforts on Long Thành Airport, and positive developments in gas projects in Block B – Ô Mon.

However, he cautioned against complacency, citing existing limitations and challenges, including bureaucratic hurdles, inadequate investment for development, and legal obstacles. The Prime Minister stressed the importance of SoEs in promoting economic development and ensuring social stability.

During the meeting, PM Chinh assigned specific tasks for the upcoming period, emphasizing key responsibilities for various SoEs. Notable directives included ensuring sufficient electricity supply by Vietnam Electricity Group, meeting oil and gas supply targets by Vietnam Oil and Gas Group, completing the expansion project of the Thai Nguyen Steel Plant Phase 2 by Steel Corporation, addressing issues faced by Vietnam Airlines, and preventing shortages of petroleum products by Vietnam National Petroleum Group.

The Prime Minister also highlighted the gradual and reasonable adjustment of electricity prices and urged the Ministry of Industry and Trade to simplify and improve the management mechanism for petroleum business hubs.

The meeting, attended by Deputy Prime Ministers and leaders of ministries, sectors, and the 19 SoEs, concluded with a call for thorough analysis, evaluation, and proposals to enhance production and business, contributing to socio-economic development in 2024 and beyond.