Prime Minister Pham Minh Chinh speaks at the meeting with representatives from SOEs pioneering in digital transformation in Hanoi on April 15. (Photo: VNA)

Prime Minister Pham Minh Chinh has urged state-owned enterprises (SOEs) to demonstrate stronger determination, make greater efforts, and take more decisive actions, to overcome challenges and move toward rapid and sustainable development in the time to come.

Chairing a meeting with representatives from SOEs pioneering in digital transformation in Hanoi on April 15, Chinh affirmed the Government’s support for these efforts.

According to the PM, as Vietnam's resilience to external shocks remains limited, it is important to stay calm, while maintaining vigilance, and promoting self-reliance and resilience in the face of roadblocks.

He pointed out difficulties caused by the COVID-19 pandemic, conflicts that have disrupted supply and production chains, the impacts of monetary policy adjustments by other countries, difficulties in the stock, real estate, and corporate bond markets, as well as natural disasters.

The country is strongly focusing on breakthroughs in science – technology development, innovation, and national digital transformation; streamlining the political apparatus and re-structuring local administrative units; developing the private economic sector; and fostering international integration in the new context, the PM stated, adding that attention has been also paid to three strategic breakthroughs of building and finalising the institutional framework, developing strategic infrastructure, and training high-quality human resources.

The world appears to be facing a "trade war", he said, noting that Vietnam should not rely on a single market or a single growth driver like export. He underlined the need to diversify products, and production and supply chains to sustain growth.

The PM asked delegates to assess and analyse the current situation, and propose breakthrough solutions to jointly overcome hurdles. He required decisive and harmonious solutions to realise the growth goal of at least 8%, ensure macroeconomic stability, control inflation, maintain major economic balances, safeguard social welfare, and improve the material and spiritual well-being of the people.

According to the Ministry of Finance, in 2024, Vietnam had 671 SOEs whose total asset exceeded 5.6 quadrillion VND (over 216 billion USD), with nearly 3 quadrillion VND in equity, total revenue of nearly 3.3 quadrillion VND, and pre-tax profit exceeding 227 trillion VND.

SOEs’ projects are concentrated in key sectors and areas of the economy, contributing to implementing the country's socio-economic development goals./