Deputy PM demands removal of obstacles for State-owned corporations

Friday, 2020-03-20 12:18:18
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Deputy Prime Minister Truong Hoa Binh speaking at the working session (Photo: VGP)
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NDO – Politburo member and Deputy Prime Minister Truong Hoa Binh has asked the Committee for Management of State Capital at Enterprises to work side by side with its member groups and corporations to remove obstacles and facilitate their production and business activities.

The Deputy PM made the request at a working session with the committee and relevant ministries and sectors on March 19.

The committee reported that the 19 groups and corporations which hold the State capital generated combined revenue of nearly VND1.5 quadrillion (US$64.7 billion) in 2019, an increase of nearly 6.4% over 2018. They posted combined pre-tax profits of nearly VND100 trillion, up 17.6% from the yearly plan, and contributed more than VND221 trillion to the State budget.

Deputy PM Binh urged the committee to evaluate the impacts of the novel coronavirus (COVID-19) outbreak on the economy, especially to the country’s railways, airlines and oil sectors in order to make recommendations and propose solutions to address them.

He stressed the need to improve the quality of human resources and accelerate the restructuring of large State-owned enterprises (SOEs), and to improve their operation, productivity, management and financial capacity in the long run, thus contributing to boosting the country’s economy and creating employment for workers.

He requested that the Ministry of Finance, the Ministry of Planning and Investment and the Ministry of Natural Resources and Environment closely coordinate with the committee to review SOEs’ investment activities, real-estate and State-owned property management in order to reduce waste for the State’s resources.