State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.
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The implementation of production and business plans of state-owned enterprises achieved positive results. Photo: ST
The implementation of production and business plans of state-owned enterprises achieved positive results. Photo: ST

According to information from the Vietnam Oil and Gas Group (Petrovietnam), in the first quarter of 2024, except for electricity production targets, the Group's other production targets were basically completed and exceeded the assigned plan from 3. 8-20.7%. In particular, the growth targets compared to the same period in 2023 are urea production increasing by 3.2%; electricity production increased by 17.5%; Petroleum production including that of Nghi Son Refining and Petrochemical Company Limited (NSRP) increased by 9.8%; NPK production increased by 9.8%. Regarding finance, all financial targets for the first quarter of 2024 were completed beyond plan. There are ten units in the Group that exceeded the revenue plan.

With Vietnam Coal and Minerals Group, in the first quarter of 2024, the Group's total revenue is estimated to reach VND 40,432 billion, reaching 23.1% of the yearly plan, equal to 101.5% over the same period. The Vietnam Coal and Minerals Group produced 2.46 billion kWh of electricity, equal to 111% over the same period. Thanks to that, the basic targets were met and exceeded the operating plan, helping The Vietnam Coal and Minerals Group pay about VND 6,280 billion to the state budget in the first quarter of 2024.

According to the Committee for Management of State Capital at Enterprises, corporations and corporations whose owners are represented by the Committee continue to promote the spirit of initiative and creativity; Focusing on promoting production and business activities and performing assigned tasks in production, market, investment... In which, corporations operating in the fields of industry and chemical production chemicals and fertilizers promote production, contributing to ensuring the supply of products and goods for the economy; Groups and corporations operating in the field of agriculture and forestry have made many advances in food business, planting, processing and production...

For example, the rice output of the Northern Food Corporation (Vinafood1) in the first quarter of 2024 is estimated to reach 436,202 tons of rice, equal to 30.36% of the year's plan and 125.93% over the same period. The rice output of the Southern Food Corporation (Vinafood2) in the first quarter of 2024 is estimated to reach 264,000 tons of rice, equal to 28.21% of the yearly plan and 113.04% over the same period...

Consolidated petroleum output in the first quarter of 2024 of Vietnam Petroleum Group (Petrolimex) is estimated at 3.86 million m3/ton, equal to 29.63% of the yearly plan and 110.1% over the same period. In particular, Petrolimex and Vietnam Oil Corporation (PVOIL) have reached the finish line in implementing electronic invoices for each sale in accordance with the direction of the Government and the Ministry of Finance, thereby contributing to promoting transformation digital, transparent the economy, increase budget revenue as well as bring benefits to taxpayers.

Talking about the reasons for achieving high business goals, Petrovietnam's leadership representative stated that since the first days of the year, Petrovietnam has focused on closely following management goals, drastically directing all aspects of production activities, business and investment; Focusing on solving and overcoming difficulties, taking advantage and exploiting the maximum motivation, opportunities, and growth potential, making the best efforts to carry out production and business tasks in the first quarter of 2024.

Along with production and business, the restructuring of state-owned enterprises has also made progress. Currently, corporations and corporations whose owners are represented by the Committee for Management of State Capital at Enterprises have been building and completing a restructuring project for the period up to 2025. Accordingly, the corporation focuses its resources on restructuring its main business sectors and fields; Promoting divestment of investments outside the industry; restructuring member units, products, markets, investment plans, human resources; enhance innovation and modernize corporate governance; Strengthen the management, control and internal audit apparatus.

Furthermore, the work of handling shortcomings and weaknesses of some projects and enterprises that are behind schedule and ineffective in the Industry and Trade sector is also being actively implemented. During a working session with the Committee at the end of March 2024, a representative of Thai Nguyen Iron and Steel Joint Stock Company (TISCO) said that currently the expert group of China Metallurgical Science, Technology and Trade Corporation (MCC) ) and TISCO jointly researched and surveyed the site of the Thai Nguyen Iron and Steel Factory Phase 2 Expansion Project (TISCO 2) and developed a plan to tally and determine the current state of machinery and equipment. Gathering at the site and construction works within the framework of the TISCO 2 Project. These tasks are carried out accurately and thoroughly, which is considered an important premise for building a reasonable treatment plan for the TISCO project 2.

By HuongDiu/Quynhlan

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