Prime Minister Pham Minh Chinh called on State-owned enterprises (SOEs) to be pioneers in innovation and digital transformation at a meeting with outstanding SOEs on March 3.

They were also directed to continue their role in leading and restructuring the economy in connection with renewing the growth model.

He asked them to continue improving operational efficiency and competitiveness, focusing on renewing the existing growth drivers of investment, consumption, and exports, while promoting new drivers such as digital transformation, green transition, the circular economy, and the knowledge-based economy.

The Prime Minister also emphasized the need for them to conduct restructuring in administration, finance, production, business, and supply chains, to respect competition and market rules under State management, and to boost their competitiveness and resistance to shocks, both internal and external.

As of the end of 2023, Vietnam had 676 SOEs in various sectors, according to the Ministry of Planning and Investment.

Their combined revenue last year stood at VND1.65 quadrillion ($67.3 billion).