This is the figure shared by Deputy Minister of Finance Nguyen Duc Tam at the Conference of the Prime Minister working with Chairmen and General Directors of a number of State-owned corporations and groups, held with the theme: State-owned enterprises pioneering in digital transformation and promoting growth, taking place on the morning of April 15.

Total assets of 671 state-owned enterprises increased by 45%

In 2024, the total assets of 671 state-owned enterprises (473 enterprises with 100% state capital and 198 enterprises with more than 50% state capital) will reach over VND 5.6 million billion, up 45% compared to 2023; equity will reach nearly VND 3 million billion, up 61%, total revenue will reach nearly VND 3.3 million billion, up 24%, pre-tax profit will reach nearly VND 227.5 trillion, up 8% and payment to the state budget will reach nearly VND 400 trillion, up 9%.

Deputy Minister of Finance Nguyen Duc Tam presented a report at the conference. Photo: VGP/Nhat Bac

According to Deputy Minister Nguyen Duc Tam, state-owned enterprises in the field of digital technology, VNPT and MobiFone Telecommunications Corporation have clearly demonstrated their leading role in digital transformation, building digital infrastructure for government agencies and many localities, organizations, and enterprises; successfully developing and applying digital transformation products in customer services... Viettel has been realizing the goal of becoming a global technology and business group, successfully implementing digital transformation, pioneering in creating a digital society and being the core in building a high-tech defense industrial complex.

The "Big 4" group of the largest banks in Vietnam has also undergone strong digital transformation over the past years; Vietcombank, Agribank, etc. have all deployed digital banking, which is easy to operate, integrating many superior security solutions on the modern digital banking service system...

However, in addition to the achieved results, state-owned enterprises still have some shortcomings in implementing digital transformation and innovation; operational efficiency is not commensurate with the resources held; competitiveness and science and technology are still limited; business management tools are slow to innovate, and core technologies in digital transformation have not been mastered.

It is necessary to prioritize capital resources to implement digital transformation with specific progress.

To promote the role of state-owned enterprises as pioneers in digital transformation and promote double-digit growth, develop the country quickly and sustainably, the Ministry of Finance recommends that agencies and enterprises focus on a number of key solutions.

Specifically, create breakthroughs and strongly promote new growth drivers. Focus on perfecting regulations to concretize the mechanisms and policies in Resolution No. 57-NQ/TW of the Politburo. Perfect laws, mechanisms and policies on digital transformation; synchronize legal regulations, mechanisms and policies to support and encourage businesses to innovate technology, invest in information technology, artificial intelligence, renewable energy, high-tech agriculture, logistics and smart infrastructure...

Focus on restructuring industries and sectors; improve labor productivity and economic competitiveness. State-owned enterprises in the agricultural sector need to focus on shifting from agricultural production thinking to agricultural economic thinking, prioritizing the development of circular cultivation and low carbon emissions. State-owned enterprises in the service sector need to rely on modern technology platforms, develop a number of industries and service products with high knowledge and technology content and competitive advantages. Form a number of tourism service centers with high-quality, branded tourism products.

Assign specific tasks to each domestic technology enterprise to carry out the tasks of localizing platform technologies and solutions to support digital transformation such as: Cloud, AI, BigData, etc. and have policies to support these enterprises in research.

Develop a mechanism to help state-owned enterprises access state technology investment funds, venture capital funds, etc. to have funding to test new technologies and innovate high-risk operating models.

Build a mechanism to help state-owned enterprises build salary and bonus mechanisms according to each specific job and flexibly according to market needs.

Develop a framework program to direct technology enterprises to cooperate and coordinate with state-owned enterprises to deploy synchronous and effective digital transformation solutions, ensuring requirements and capacity for data security and safety, and preventing cyber attacks.

Regarding the tasks in the coming time, Deputy Minister Nguyen Duc Tam said that state-owned enterprises need to prioritize capital resources to implement digital transformation with specific progress. Implement cooperation activities with domestic digital technology enterprises to increase the localization rate of platform technologies and solutions to support digital transformation such as: Cloud, AI, BigData, etc.

Promote investment in new technologies and new services (5G, AI); focus on solidifying and sustaining network infrastructure and preventing natural disasters; prioritize and expand infrastructure for manufacturing and high-tech industries; continue to implement large and important basic construction projects to ensure facilities for production and business activities of enterprises.

Ministries, sectors, localities, and ownership representative agencies need to prioritize national resources for investment in science, technology, innovation, and digital transformation. By 2045, strive to have the ratio of digital technology enterprises equal to that of developed countries; at least 10 digital technology enterprises on par with advanced countries.

The Ministry of Finance will urgently develop Decrees guiding the Law on Management and Investment of State Capital in Enterprises. The Ministry of Science and Technology will allocate at least 15% of the State budget for scientific research to serve strategic technology research.