Prime Minister Pham Minh Chinh issued a directive on February 22 about renewing administration, improving production and trade efficiency, and promoting development investment in State-owned enterprises (SOEs).

SOEs are required to continue promoting their pioneering role in innovation, digital transformation, and economic recovery under the directive.  

The Prime Minister asked them to urgently implement the master plan on business restructuring in the 2021-2025 period and to develop strategic plans and annual and five-year production and trade and development investment plans.

SOEs that are investing in and implementing key transport projects must speed up progress while ensuring quality, efficiency, and safety, including those involved in the Eastern North-South Expressway, Ring Road No. 3 in Ho Chi Minh City, Ring Road No. 4 in the Hanoi Capital Region, Long Thanh International Airport in southern Dong Nai province, and Terminal No. 3 at Ho Chi Minh City’s Tan Son Nhat International Airport.

Those operating in infrastructure development are instructed to accelerate the construction of social housing projects to contribute to implementing the government’s plan on building at least 1 million social housing units for low-income earners and workers at industrial parks in the 2021-2030 period. At least 130,000 social housing units should be completed this year under the directive.

State-owned commercial banks, meanwhile, are requested to continue reviewing and simplifying their lending procedures and to work to cut lending rates.