First, it is necessary to clearly classify SOEs by function and operational objectives, rather than applying a uniform management mechanism. The third group comprises commercial SOEs operating in competitive markets with the objective of generating profits for the State and contributing to the state budget. The overarching principle is that the State should not directly intervene in daily business decisions, but instead manage through objectives, standards, and supervisory mechanisms. Typical SOEs worldwide apply strict corporate governance standards, often aligned with OECD principles, to clarify accountability and increase the autonomy of the management apparatus. Successful SOEs often concentrate resources on strategic sectors where the private sector under-invests, such as national infrastructure, digital platforms, or pioneering technology.

Source: VietNamNet News March 02, 2026 02:41 UTC