Việt Nam aims to see 30 SOEs with billion-dollar revenue by 2030

Việt Nam aims to see 30 SOEs with billion-dollar revenue by 2030

Việt Nam's finance ministry hopes to see at least 30 State-owned enterprises (SOEs) with net revenue exceeding US$1 billion each by 2030.

Việt Nam currently has 76 enterprises in the Fortune 500 Southeast Asia list, with some SOEs holding high positions. Photo cafef.vn

Việt Nam aims to see at least 30 State-owned enterprises (SOEs) with net revenue exceeding US$1 billion each by 2030, according to a finance ministry strategy on developing the State economic sector.

The goal is stated in a political report from the Party Committee of the Ministry of Finance (MoF) submitted to the MoF’s Party Congress for the 2025-30 term, according to the MoF's news portal.

Also cccording to the plan, five years from now, the SOE sector aims to see at least 25 SOEs with equity or capitalisation values exceeding $1 billion, of which 10 SOEs will have equity or capitalisation values exceeding the $5 billion mark.

Việt Nam currently has 76 enterprises in the Fortune 500 Southeast Asia list, with some SOEs holding high positions.

The report notes that by the end of 2024, the total assets of 671 SOEs reached more than VNĐ5.6 quadrillion (about $215 billion), up 45 per cent compared to 2023. Both revenues and pre-tax profits of the SOEs also showed good growth, with nearly VNĐ3.3 trillion and VNĐ227.5 trillion recorded, respectively.

To promote the State economy, the Government is developing a State Economic Development Project to effectively use public resources and contribute to achieving a double-digit growth target.

In the 2026-30 period, Việt Nam aims to achieve GDP growth of at least 10 per cent per year, an average income of $8,500, public debts of around 45 per cent of GDP and inflation of 4-4.5 per cent.

Registered FDI is expected to be $200-300 billion, with a localisation rate of more than 40 per cent by 2030. 

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