State-owned enterprises currently hold nearly 4 million billion VND in assets, owning more than 20% of the capital of the country’s business sector.

These enterprises do business not only to serve their own profits but also to fulfill their responsibilities to the community. State-owned enterprises currently hold nearly 4 million billion VND in assets, owning more than 20% of the capital of the country’s enterprise sector.

Holding such a large resource, how can State-owned enterprises accelerate production and business effectively, will make an important contribution to the economic growth target of over 8% this year and towards the double-digit growth target in the following years. Applying technology is the solution that businesses are promoting today.

Immediately after completing the gas pumping, through the linked e-wallet system, the payment and purchase invoice issuance are automatically completed. This is a cashless payment technology that the Vietnam National Petroleum Group is piloting, helping consumers optimally control costs and save transaction time. This year, the group will strive to increase consumption output by over 8%.

Mr. Dang Quoc Viet – Store Manager of Petrol Station No. 30 Hanoi, Vietnam National Petroleum Group said: “This is a technology that has been applied and deployed at non-stop toll stations on Vietnam’s highways. We see the benefits of implementation, one is to increase payment methods, increase customer experience and convenience, and second is that all transactions are recorded very promptly, fully, clearly, transparently, supporting the prevention and reduction of risks in payment”.

For the coal industry, to ensure sufficient coal supply for power generation this year, it will require over 60 million tons. Many businesses have proactively applied technology in production.

This enterprise invested in the “Mechanized Furnace” technology, with a mining capacity of 1.2 million tons of coal per year, about 7 times higher than traditional mining technology.

Mr. Trinh Xuan Khoa – Head of Planning Department, Ha Lam Coal Company, Quang Ninh shared: “With the investment in these two new technologies, productivity has been greatly increased. In the previous longwall mining technology, productivity only reached 150 tons/year, but now productivity has increased from 600,000 – 700,000, even more than 1 million tons/year”.

According to the Ministry of Industry and Trade, in order to achieve the set growth targets by 2025, the development targets of each industry and production sector have also been adjusted accordingly.

Ms. Mai Thu Hien – Deputy Director of the Department of Finance and Enterprise Management, Ministry of Industry and Trade commented: “In the action program, the Ministry of Industry and Trade has proposed many groups of tasks and solutions, in which the target for electricity production and electricity import is 12.5%, industrial production has set a growth target of 9-10% and strives to reach 12.5%”.

Last year, the total budget revenue for the first time reached over 2 million billion VND, with the State-owned enterprise sector alone contributing more than 10%. Thus, it can be seen that promoting the pioneering role of State-owned enterprises in the economy, innovating the application of science and technology, digital transformation, boosting production, etc. will contribute to completing the set socio-economic development tasks.

Not only petroleum, electricity or coal, State-owned enterprises have a leading role and a pioneering position in many industries and fields such as telecommunications, aviation, maritime transport… Many enterprises are also investors in large projects. Applying technology and changes in mechanisms are also needed to remove bottlenecks in organizational structure, remuneration or human resources so that State-owned enterprises can make breakthroughs in development.