Innovation has become a pressing need for State-owned enterprises (SOEs) which have undergone drastic restructuring during the past decade but their operation efficiency remained lower than expected, according to experts
Workers of Vietnam Electricity check the transmission system (Photo: VNA)
Hanoi (VNS/VNA) — Innovation has become a pressing ne🍒ed for State-ownedenterprises (SOEs) which have undergone drastic restructuring during the pastdecade🦩 but their operation efficiency remained lower than expected, accordingto experts
The Government recently issuedResolution No 161/NQ-CP to strengthen innovation and increase theoperational efficiency of SOEs. The resolution stressed SOEsmust take the lead in innovation and technology development, adding that eachSOE must be an innovation centre. Focus must be placed ondeveloping a corporate ecosystem and building value chains. SOEs must bepioneers in the Fourth Industrial Revolution and be more proactive ininternational integration and extending global reach. Co-operation among SOEs andother domestic companies must also be enhanced to improve links and establishdomestic supply chains to reduce the dependence of foreign markets. SOEs are also urged to prepareto take opportunities arising from free trade agreements so as to expandmarkets and consolidate Vietnamese brands in the world. They must play their roles incontributing to socio-economic development in difficult areas which were notattractive to private investment as well as in restructuring the economy,maintaining macro stability and ensuring security, including energy security,food security and environment protection. The State must hold controllingstakes at State-owned commercial joint-stock banks. For the power, food, telecommunications,national defence and security companies, and other social welfare companies,the State must hold the entire stakes. SOEs must have strategies topromote the development of 5G technology, e-Government and smart cities. The privatisation of SOEs mustbe associated with the innovation at SOEs. The accountability of themanagers of SOEs in privatisation, capital divestment and restructuring must beenhanced to ensure transparency and compliance with established regulations andthe market principles as well as to prevent interest groups. According to a recentGovernment report to the National Assembly, there were 818 SOEs as of theend of 2019 fiscal year, including 491 entirely State-owned firms and 327partially owned by the State.
The State capital at 818 SOEswas estimated to exceed 1.6 quadrillion VND (68.9 billion USD), up 4 percentagainst 2019. Forty-four out of the 491entirely Stat🃏e-owned firms reported losses ;wort🐟h 619 billion VNDaltogether./.
Prime Minister Nguyen Xuan Phuc has issued Decision 908/QD-TTg approving the list of State-owned enterprises (SOEs) to implement divestment of State capital in 2020, which comprises 120 enterprises.
Deputy Prime Minister Truong Hoa Binh chaired a meeting on August 10 to review draft decrees that amend and supplement a number of Government decrees on equitising State-owned enterprises (SOEs) and divesting State capital from businesses.
Despite numerous efforts of the Government in speeding up the equitisation of State-owned enterprises, some ministries, sectors, localities and economic groups have showed ineffective performance in the work, thus slowing down the progress of the scheme.
As the Government is focusing on accelerating the privatisation and divestment of State-owned enterprises (SOEs), attracting foreign investment is important to the success of the progress, according to the Committee for Management of State Capital at Enterprises (CMSC).
ANTARA and VNA can design global-scale cooperation programmes or joint media campaigns, demonstrating the comprehensive strategic partnership between Vietnam and Indonesia, as well as the cooperation between the two national news agencies.
As Vietnam’s digital transformation accelerates, both the frequency and severity of cyberattacks are growing. The National Cybersecurity Association (NCA) reported that in 2024 alone, there were some 659,000 separate cybersecurity incidents, impacting around 46.15% of government agencies and businesses.
A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
Ambassador Nguyen Minh Vu laid stress on the significance of the Hanoi Convention, particularly to the Asia – Pacific, to handling legal gaps in international cooperation against rapidly increasing global cybercrime.
The week features a rich lineup of activities, including a plenary conference on blockchain and AI development, thematic seminars on future technology trends and investment visions, applications of blockchain and AI in business, the Super Vietnam PitchFest, as well as forums for blockchain and AI.
According to the Politburo’s Resolution No. 57-NQ/TW, dated December 22, 2024, on making breakthroughs in the development of science, technology, innovation, and national digital transformation, this is considered a decisive factor in the development of nations. It is seen as a prerequisite and the best opportunity for Vietnam to become prosperous and powerful in the new era of the nation’s rise.
Workers of Vietnam Electricity check the transmission system (Photo: VNA) 
