Improving the efficiency of public-investment projects is important to promoting socio-economic development. (Photo: VGP)
Hanoi (VNS/VNA) - Inefficient State-owned enterprises must behandled this year, Prime Minister Nguyen Xuan Phuc has said.
This was the highlight of the PM’s recent plan to combat waste in 2020 byimplementing financial discipline, preventing losses to the State budget,controlling the budget deficit and improving investment development.
Checks must be carried out to figure out existing problems at State-ownedenterprises to handle them this year, the PM said, stressing that no Statecapital would be used to bail out loss-making enterprises and projects.
Thedecision said that thrift must be enhanced in the use of State capital togetherwith applying advanced technology to improve quality and competitiveness aswell as reduce production costs.
Therestructuring of State-owned enterprises must also be accelerated, coupled withimproving financial capacity and renovating corporate management, technology,production and development strategies to increase product quality andcompetitiveness, according to the decision.
Statisticsfrom the Ministry of Finance released in December 2019 showed that as ofthe end of the 2018 fiscal year, there were 855 enterprises in which the Stateheld stakes worth totally 1.53 quadrillion VND (731.7 billion USD). Of them,505 were wholly State owned.
Of note, 110 enterprises with State stakes reported losses in 2018.
The Prime Minister also asked relevant agencies to improve the efficiency ofpublic investment, stressing that only feasible and efficient projects would begranted licences.
Ministries and local authorities must gear up public investment plans this yearto select feasible projects for implementation.
The evaluation of public investment projects must be improved to prevent thecontinuous adjustment of capital required, according to the decision.
Vietnamhas set a goal of achieving gross domestic product (GDP) growth of 6.8 percentthis year./.
Prime Minister Nguyen Xuan Phuc urged better coordination between the Commission for the Management of State Capital at Enterprises (CMSC) and ministries, sectors and corporations at a review conference of the CMSC on January 16.
A majority of groups and corporations fulfilled 2019 targets assigned by the Committee for Management of State Capital at Enterprises (CMSC), heard a conference in Hanoi on January 16.
The Ministry of Finance has revealed that twelve out of 136 wholly state-owned enterprises had posted losses of 720 billion VND in total (31 million USD) in the first half of last year, and six others faced warnings regarding financial security.
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Improving the efficiency of public-investment projects is important to promoting socio-economic development. (Photo: VGP) 
