Beijing (VNA) – National Assembly Chairman Vuong Dinh Hue attended a Vietnam -China seminar on State-owned enterprises (SoE) reform and management of state capitalat enterprises in Beijing on April 9.

The event,part of the top legislator’s official visit to China, saw the presence of Vietnameseand Chinese officials and 250 delegates representing over 100 businesses of thetwo countries.

In hisopening remarks, Vietnamese Deputy Prime Minister Tran Luu Quang emphasised the significance and progress of bilateral economic, trade, and investment cooperation,including partnerships between the two business circles, which, he said, is generatingtangible and long-term benefits for both sides.

He also highlightedsimilarities between the socio-economic development viewpoints of Vietnam andChina, including prioritising sustainable development that centres on peopleand bases on science, technology, and innovation.

NguyenHoang Anh, Chairman of the Vietnamese Commission for Management of StateCapital at Enterprises, noted the special importance of SoEs which contributeto almost 30% of Vietnam’s GDP, employ about 700,000 workers (accounting for7.3% of all businesses’ workers), hold a leading role in some sectors, andgenerate a considerable source of revenue for the state budget.

However, SoEs in Vietnam still face certainshortcomings, he pointed out, elaborating that some still show limited efficiency,competitiveness has yet to match the resources they possess, and their outstanding role inboosting the development of other economic elements hasn’t been shown clearly.

Zhang Yuzhuo, Chairman of the State-owned Assets Supervision andAdministration Commission of the State Council of China, stressed the necessity to promote the roleand professionalism of state-owned capital supervision and management agencies, aswell as fostering SoEs’ operations in the market and integration.

He said the seminar was an occasion for the two sides todiscuss and work out solutions to challenges. As SoEs form a crucial force fornational modernisation in each country, it is necessary to develop leading andopen businesses with rich vitality that serve as pillars of the national economies,help with social stability, and are able to cope with crises.

At theevent, participants discussed results and lessons of state-owned capital andasset management in China, SoE reform experiences and issues in Vietnam, alongwith other major matters. They also looked into ways to further improve SoEs’role in each economy and the two countries’ economic cooperation./.