Faced with the country's new development requirements and the economic growth target of 7%/year, aiming for double-digit growth in the coming years, one of the urgent requirements is to develop production, combat waste, including "reviving" major projects that were once stalled and "shelved"; at the same time "accelerating" the development of the country's large economic groups...
Under the strong direction of the Government, the Prime Minister and the Committee, 19 groups and corporations have focused resources on restructuring their main business sectors and fields; promoted divestment of non-core investments, restructuring member units, products, markets, investment plans, and human resources; enhanced innovation and modernization of corporate governance; improved the management, control, and internal audit apparatus... gradually removing difficulties and making profits.
Breakthrough
Over the past years, 19 groups and corporations under the State Capital Management Committee at Enterprises have proactively played a leading role in ensuring supply and stabilizing the petroleum market; ensuring the people's demand for electricity for daily life and production and business; increasing crude oil and coal production output for the economy's needs and contributing to ensuring energy security; increasing production value, supplying industrial products and goods to the economy in terms of basic chemicals, pesticides, fertilizers, batteries, and steel; improving product quality and production volume of agricultural and forestry products to meet the domestic market and serve exports.
In 2024, the consolidated financial situation of the corporations and general companies represented by the Committee, the revenue is estimated at VND 2,030,572 billion (equal to 120% of the annual plan and 107% over the same period). Pre-tax profit is estimated at VND 111,692 billion (equal to 158% of the annual plan and 156% over the same period). The value paid to the State budget is estimated at VND 206,206 billion (equal to 153% of the annual plan and 105% over the same period). These figures are the clearest evidence of the growth in both revenue and profit of the corporations and general companies.
Impression
Regarding the investment and development situation, in 2024, the consolidated investment value of 19 corporations and general companies represented by the Committee is estimated to reach 160 trillion VND, equal to 130% compared to the same period in 2023. The Committee has directed corporations and general companies to construct and complete a number of key national projects, typically the 500kV Power Transmission Line Circuit 3 Quang Trach (Quang Binh) - Pho Noi (Hung Yen) project, which was assigned by Vietnam Electricity Group (EVN) to the National Power Transmission Corporation (EVNNPT) as the investor, with a total length of 519km, 1,177 pole positions, 513 anchorages, passing through 211 communes/wards of 43 districts in 9 provinces, with a total investment of more than 22,300 billion VND. This is a key, urgent project of great significance to improve the stability of the power system operation, increase power supply to the North, and contribute to ensuring national energy security.
Another notable event is that the Committee has actively directed the Vietnam Expressway Corporation (VEC) to take advantage of favorable weather conditions to accelerate the construction progress of the Ben Luc - Long Thanh Expressway project; report to competent authorities to promptly remove difficulties and obstacles so as not to affect the progress. Up to now, the first expressway sections of the project have been basically completed and are eligible for operation, including the 3.4km section from the Ho Chi Minh City - Trung Luong Expressway intersection (Long An) to National Highway 1 (Ho Chi Minh City) and the 6.1km section from the Phuoc An intersection to the National Highway 51 intersection (Dong Nai). This is a step forward in road development, connecting industrial parks and urban areas, promoting socio-economic development for many provinces and cities.
Along with that, the project to build Passenger Terminal T3 - Tan Son Nhat International Airport with a scale of 20 million passengers/year with a total investment of 10,873 billion VND from the legal capital of Vietnam Airports Corporation (ACV) started on March 14, 2024, is also being seriously and effectively implemented to accelerate the completion 2 months ahead of schedule, put into operation on the occasion of celebrating the 50th anniversary of the Liberation of the South and National Reunification (April 30, 1975 - April 30, 2025)...
In 2024, under the strong direction of the Government, the efforts of the Committee, corporations and general companies achieved many positive results, gradually affirming the brand of Vietnamese enterprises in the international arena. Typically, Vietnam Coffee Corporation (VINACAFE) has successfully built and registered to own the new product identity Vietnam Coffee, along with a series of deeply processed coffee products such as instant coffee, roasted coffee... instead of growing, purchasing, exporting and selling green coffee beans in the domestic market as before.
At the conference to review the work in 2024 and deploy tasks in 2025 of the State Capital Management Committee at Enterprises and 19 corporations and general companies on the afternoon of December 6, 2024, Deputy Prime Minister Ho Duc Phoc acknowledged the work of managing state capital at enterprises of the Committee in 2024; the work of handling projects and enterprises that are behind schedule and ineffective in the industry and trade sector, as well as the completion of a number of key national projects.
"The Committee and 19 corporations and general companies have successfully completed their assigned tasks, contributing about 10% of GDP to the national economy. This is a great effort" - the Deputy Prime Minister acknowledged and cited a number of units such as: Vietnam National Oil and Gas Group, Vietnam Electricity Group, Vietnam Posts and Telecommunications Group, Vietnam Airlines Corporation... have made efforts in production and business, with very high growth in revenue and profit. Thus, the "revival" of "mega-projects" has actively contributed to fighting waste, effectively using State capital, contributing to promoting national economic growth...
