SOEs play dominant role in national economy
SOEs play dominant role in national economy
State-owned enterprises (SOEs), particularly large corporations, play dominant roles in several key economic sectors, such as energy (electricity, coal, petroleum), banks and telecommunications, Ministry of Planning and Investment (MPI) statistics revealed.
As reported by MPI, in terms of investment capital sourced from the State-owned enterprises currently account for 79 per cent in the mining sector, 91 per cent in the electricity production and distribution sector, 65 per cent in the water supply and wastewater treatment sector and 80 per cent in the ICT (information, communications and technology) sector, as well as 43 per cent in the agriculture, forestry and fisheries sector and 57 per cent in the finance, banking and insurance sector, online newspaper zing reported.
Net revenue gained by State-owned enterprises accounted for 80 per cent of total net revenue earned by the entire business community in the mining sector, 96.8 per cent in the electricity production and distribution sector, 72.94 per cent in the water supply and wastewater treatment sector and 82 per cent in the ICT sector, as well as 52.7 per cent in the agriculture, forestry and fisheries sector and 48 per cent in the finance, banking and insurance sector.
Currently, up to 93 per cent of people using mobile networks are customers of the Viet Nam Posts and Telecommunications Group (VNPT), Viet Nam’s Telecommunications Group (Viettel) and the MobiFone Telecommunications Corporation (MobiFone), all of whom are State-run enterprises.
Some 80 per cent of electricity supply in the country is generated by the State-run Electricity of Viet Nam Group (EVN). EVN also currently manages the transmission and operation system of the national electricity supply as well as its distribution and sale operation.
Viet Nam Cement Industry Corporation (VICEM) and its affiliates currently hold over 30 per cent of the cement market share.
Viet Nam National Coal and Mineral Industries Group (Vinacomin) supplies coal for the fuel needs of the entire business community and residents.
Viet Nam National Petroleum Group (Petrolimex) and some other State-run petroleum enterprises are the exclusive suppliers of domestic petroleum.
Rice export volume of the Viet Nam Northern Food Corporation and the Viet Nam Southern Food Corporation account for some 70 per cent of the country’s total rice export.
Loans of State-owned commercial banks, such as BIDV, Agribank, Vietcombank and Vietinbank, account for 50 per cent of the country’s total outstanding loans.
