Vietnam willing to share experience in SOE reform with Laos: PM
Prime Minister Pham Minh Chinh has reiterated Vietnam’s readiness to share its experience in reforming and restructuring State-owned enterprises (SOEs) with Laos, including legal frameworks, management processes, and approaches to capital mobilisation and investment management.
Prime Minister Pham Minh Chinh (R) receives Saleumxay Kommasith, Politburo member, Deputy Prime Minister and head of the Lao People’s Revolutionary Party (LPRP) Central Committee’s Commission for State-owned Enterprise (SOE) Reform. (Photo: VNA)
Hanoi (VNA)⛎ – Prime Minister Pham Minh Chinh has reiterated Vietnam’s readiness to share its experience in reforming and restructuring State-owned enterprises (SOEs) with Laos, including legal frameworks, management processes, and approaches to capital mobilisation and investment management.
While receiving a delegation from the Lao People’s Revolutionary Party (LPRP) Central Committee’s Commission for State-owned Enterprise (SOE) Reform, led by Saleumxay Kommasith, Politburo member, Deputy Prime Minister and head of the commission, in Hanoi on August 13, PM Chinh commended the strong cooperation between the two countries in various sectors, particularly in SOE reform, a strategically important area for sustainable economic growth in both nations, and a driver of their great friendship, special solidarity, and comprehensive cooperation.
The PM outlined Vietnam’s recent SOE reform efforts, from streamlining enterprise portfolios, advancing equitisation and divesting State capital to refining institutional and policy frameworks to boost operational efficiency.
He affirmed that Vietnam always considers SOEs as one of the key pillars of the economy, while pursuing strong reforms to ensure their operational efficiency, transparency, and compliance with market mechanisms and measures to combat corruption and other negative phenomena.
An overview of the meeting (Photo: VNA)
PM Chinh also shared experience on modern corporate governance, empowering SOEs, integrating information technology and digital transformation in management, fostering innovation to enhance competitiveness, with an emphasis on optimising human resources to ensure their success.
He proposed establishing a regular exchange mechanism between relevant agencies, highlighting that practical experience at Vietnamese State corporations and economic groups would offer Laos comprehensive and in-depth perspectives for effective adaptation.
Saleumxay, for his part, informed his host of the delegation’s constructive meetings with Tran Luu Quang, Secretary of the Communist Party of Vietnam Central Committee and Chairman of the its Commission for Policies and Strategies, and Deputy PM Ho Duc Phoc.
He praised Vietnam’s SOE reform experience and operational models as valuable lessons, affirming that Laos, in its pursuit of an independent and self-reliant economy, seeks to strengthen cooperation with Vietnam, particularly in SOE management, development, and innovative governance models, to build an efficient and sustainable national economy./.
Deputy Prime Minister Ho Duc Phoc reiterated Vietnam’s readiness to share its experience fully and support Laos in SOE reform, while also expressing a desire to learn from Laos’ valuable insights.
Tran Luu Quang, Secretary of the Communist Party of Vietnam (CPV) Central Committee and head of its Commission for Policies and Strategies, underlined that the exchange of experience in building socio-economic development policies, refining institutions and policies, and particularly in SOE reform, is a practical and significant approach that contributes to maintaining stability and fostering development in both countries.
The restructuring of state-owned corporations and enterprises must follow the spirit of “placing national interests above all else” to ensure that state capital is managed and developed optimally, serving national development in the new era, said Prime Minister Pham Minh Chinh.
The outcomes of the state visit to the Republic of Korea (RoK) by Party General Secretary To Lam and his spouse from August 10-13 are reflected in five major aspects, ranging from political trust and multifaceted cooperation to social foundations and multilateral engagement.
Prime Minister Pham Minh Chinh said the programme must focus on steadily improving the material and spiritual well-being of ethnic minority and mountain communities, with each year’s progress surpassing the previous.
Party General Secretary To Lam and his spouse Ngo Phuong Ly, accompanied by a high-level Vietnamese delegation, left Busan for Hanoi on August 13, concluding their four-day state visit to the Republic of Korea (RoK) at the invitation of Korean President Lee Jae Myung and his spouse.
At the local level, successive leaders of HCM City have paid due attention to fostering Vietnam–India friendship. Under their guidance and support, people-to-people exchanges between the two countries in the city have flourished across trade, tourism, culture, and education. Such activities have deepened ties and mutual understanding while bringing tangible benefits to the people of both nations.
In the context of the robust development of bilateral ties, the establishment of the Consulate General of Vietnam in Busan is vivid evidence of the deepening linkages between the two nations, serving as a solid bridge to expand locality-to-locality cooperation in various fields such as economy, culture, and people-to-people exchanges.
The diplomatic sector has always upheld its role as one of the three key pillars in the cause of national construction and defence, taking the lead in implementing the motto of “using the invariables to cope with the variables" in asserting and safeguarding the sacred sovereignty of the nation.
Deputy Prime Minister Nguyen Chi Dung, on behalf of the Government and people of Vietnam, extended congratulations to the government and people of Singapore, highlighting Singapore as a source of aspiration for many nations, including Vietnam, and a model of innovation, and smart government building.
President of the VFF Central Committee Do Van Chien highlighted the fruitful ties between the VFF Central Committee and the LFNC Central Committee for the effective implementation of the bilateral cooperaetion agreement and the tripartite memorandum of understanding among the fronts of Vietnam, Laos, and Cambodia.
Busan will continue to work closely with Ho Chi Minh City and other Vietnamese localities to promote substantive collaboration in areas where the two sides boast complementary strengths, contributing to concretising the agreements reached by high-ranking leaders of both sides, said Busan Mayor Park Hyeong Joon.
Party General Secretary To Lam acknowledged the rapid progress of the Vietnam–RoK partnership in recent years, especially in economics, thanks to the support of both countries, their citizens, and business leaders like former Honorary Consul General of Vietnam in the RoK Park Soo Kwan.
The Government leader called for a people-centred and comprehensive approach involving the full political system, with more decentralisation and delegation of power, as long as stronger implementation capacity, enhanced inspections, perfected institutional frameworks, and targeted resource allocation.
Hugh Jeffrey, Deputy Secretary of Strategy, Policy, and Industry at the Australian Department of Defence, highly valued Vietnam's increasingly active role in peacekeeping missions and expressed confidence in the growing, practical, and deeper cooperation between the two countries.
The visit marks the Vietnamese Party General Secretary’s first state visit to the RoK in his new role. The RoK’s invitation to him as the first “state guest” under its new administration signals the high priority it places on the relationship with Vietnam and its Party chief personally.
Party General Secretary To Lam suggested both sides effectively implement existing parliamentary cooperation agreements and strengthen exchanges between the two legislatures. He laid stress on the bridge-building role of friendship parliamentarian groups in each country.
Under the draft revised rules, the NA and People’s Councils will no longer directly establish thematic supervision missions. Instead, the NA will select annual supervision themes and assign their implementation to the NA Standing Committee or specialised committees, which will then report findings for parliamentary discussion and resolution.
The Republic of Korea (RoK)’s media continued to provide extensive coverage on August 12 of the State visit to the country by General Secretary of the Communist Party of Vietnam Central Committee To Lam, his spouse Ngo Phuong Ly, and a high-level Vietnamese delegation from August 10-13.
