The Vietnamese government plans to have a minimum of 30 state-owned enterprises (SOEs) generating annual net income above $1 billion each by 2030, as outlined in a financial department strategy focused on expanding the state-run economy.
Aiming to be outlined in a political document issued by the Ministry of Finance (MoF) Party Committee and presented to the MoF’s Party Congress for the period 2025–30, as reported by the MoF’s official news website.
 |
|
Electricity workers in Vietnam were seen pulling cables in Hanoi during June 2018. Image courtesy of VnExpress/Ngoc Thanh |
As per the strategy, within five years, the SOE sector expects to have at least 25 state-owned enterprises with assets or market valuation surpassing $1 billion, including 10 SOEs whose asset base or market value will exceed $5 billion.
Vietnam now includes 76 companies on the Fortune 500 Southeast Asia ranking, among which several state-owned enterprises occupy prominent spots.
The document states that as of the end of 2024, the combined assets of 671 state-owned enterprises exceeded VND5.6 quadrillion (approximately $215 billion), marking an increase of 45% from 2023. Revenues and pre-tax earnings for these SOEs also experienced strong growth, reaching almost $3.3 trillion and $227.5 trillion, respectively.
In order to boost the national economy, the government is implementing a State Economic Development Initiative aimed at efficiently utilizing public assets and supporting the attainment of a double-digit growth objective.
During the years 2026 to 2030, Vietnam plans to attain annual economic expansion of minimum 10%, an average earnings level of $8,500, government liabilities approximately equal to 45% of gross domestic product, and price increases ranging between 4 and 4.5%.
It is projected that registered foreign direct investment will reach between $200 billion and $300 billion, with a local content ratio exceeding 40% by 2030.
