PM: each State group, corporation must be an innovation centre

Prime Minister Nguyen Xuan Phuc asked each State-owned group and corporation to become centre for innovation during a conference in Hanoi on October 16.

Prime Minister Nguyen Xuan Phuc speaking at the event (Photo: VNA)
Prime Minister Nguyen Xuan Phuc speaking at the event (Photo: VNA)

They were also required to improve governance and competitiveness, and enhance human resources training.

The PM suggested they pay attention to make active contributions to restructuring the economy, stabilising macro-economy and ensuring national security.

State management agencies were assigned to review legal documents to further empower State-owned groups and corporations.

In particular, the centrally-run business bloc should focus on Party building and encourage talented staff, he added.

From 2016 to June 2019, 162 firms were equitised with a total value of over VND205 trillion (US$9.48 million), or 108% of State capital value in equitised firms during the 2011-2015 period. The total revenue from equitisation and divestment surpassed VND218.2 trillion, more than doubling the total in the past five years.