Politburo's new resolution seeks to elevate state economy with push for global top 500

Politburo's new resolution seeks to elevate state economy with push for global top 500

Party General Secretary Tô Lâm has signed a Politburo resolution outlining an expanded role of the state sector in the economy with an aim to place one to three State-owned enterprises among the world’s 500 largest companies by 2030.

By 2030, Việt Nam aims to have 50 SOEs among Southeast Asia’s 500 largest firms and 1-3 in the global top 500. — VNA/VNS Photo

Resolution 79-NQ/TW, dated January 6, reaffirms the state sector’s leading role in Việt Nam’s economy in maintaining macroeconomic stability, safeguarding major economic balances, and ensuring national defence and security.

The resolution also stresses that the state sector is equal before the law with other economic sectors and is expected to compete and cooperate on a fair and transparent basis, with equitable access to resources, markets, and development opportunities.

It urges the state sector to take the lead in industrialisation and modernisation, economic restructuring, and shaping a new growth model driven by science and technology, innovation, and digital transformation to enhance national competitiveness.

A key focus is the restructuring of SOEs to improve efficiency and governance in line with international standards.

By 2030, Việt Nam aims to have 50 SOEs among Southeast Asia’s 500 largest firms and one to three in the global top 500.

All SOEs are expected to adopt modern, digital-based governance systems, while all state economic groups and corporations must apply OECD corporate governance principles.

The resolution also targets the development of large State-owned economic groups and commercial banks capable of competing regionally and globally, with at least three State-owned commercial banks ranking among Asia’s 100 largest by total assets.

By 2045, Việt Nam aims to place around 60 SOEs among Southeast Asia’s 500 largest companies and five within the world’s top 500.

The resolution envisions the state economy becoming a solid foundation for strategic autonomy, resilience, and the overall competitiveness of the economy, underpinned by modern, transparent, and efficient governance, strong competitiveness, and deep integration into the global economy. 

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