HANOI: Party general secretary To Lam has signed a Politburo resolution seeking to reposition the state sector as a driving force in Vietnam’s next chapter of growth.
Its aim is to place up to three state-owned enterprises (SOEs) among the world’s 500 largest companies by 2030.
Resolution 79-NQ/TW, dated Jan 6, reaffirms the state sector’s leading role in Vietnam’s economy in maintaining macroeconomic stability, safeguarding major economic balances, and ensuring national defence and security.
The resolution stresses that the sector is expected to compete and cooperate on a fair and transparent basis, with equitable access to resources, markets, and development opportunities.
It urges the sector to take the lead in industrialisation and modernisation, economic restructuring, and shaping a new growth model driven by science and technology, innovation, and digital transformation to enhance national competitiveness.
A key focus is the restructuring of SOEs to improve efficiency and governance in line with international standards.
By 2030, Vietnam aims to have 50 SOEs among South-East Asia’s 500 largest firms and one to three in the global top 500.
All SOEs are expected to adopt modern, digital-based governance systems, while all state economic groups and corporations must apply Organisation for Economic Cooperation and Development corporate governance principles.
The resolution also targets the development of large state-owned economic groups and commercial banks capable of competing regionally and globally, with at least three state-owned commercial banks ranking among Asia’s 100 largest by total assets.
By 2045, Vietnam aims to place around 60 SOEs among South-East Asia’s 500 largest companies and five within the world’s top 500. — Viet Nam News/ANN
