After reporting losses exceeding $42 million over two years, Minister of Construction Tran Hong Minh urges Vicem to overhaul its business strategy for 2025.

The private enterprise sector in Vietnam is garnering significant attention, as evidenced by a series of conferences held by the PM. Policymakers have suggested positioning the private sector as the most critical driver of economic development.

Leaders of state-owned enterprises (SOEs), which have proposed numerous solutions and targets to help obtain the targeted GDP growth rate of 8 percent, say they want greater autonomy in their business operations.

A new government decree limits salaries for state-owned enterprise leaders, with board chairpersons earning a maximum of 80 million VND and CEOs restricted to ten times the average worker’s salary.

The Commission for Management of State Capital at Enterprises (CMSC) on February 28 transfered the rights and responsibilities of the agency representing state capital ownership to the Ministry of Finance.

Vietnam’s state-owned enterprises propose increased decision-making power and regulatory reforms to enhance efficiency, accelerate investment, and achieve the government’s 8% GDP growth target by 2025.

PM Pham Minh Chinh has called on state-owned enterprises to drive Vietnam’s economic expansion, urging them to embrace innovation, enhance efficiency, and contribute to sustainable national development.

Vicem, Vietnam’s largest cement corporation, has reported 1.4 trillion VND ($58 million) in consolidated losses for 2024, prompting Deputy Prime Minister Tran Hong Ha to order an investigation into the causes and potential solutions.