Prime Minister Pham Minh Chinh has reiterated Vietnam’s readiness to share its experience in reforming and restructuring State-owned enterprises (SOEs) with Laos, including legal frameworks, management processes, and approaches to capital mobilisation and investment management.

Prime Minister Pham Minh Chinh (R) receives Saleumxay Kommasith, Politburo member, Deputy Prime Minister and head of the Lao People’s Revolutionary Party (LPRP) Central Committee’s Commission for State-owned Enterprise (SOE) Reform.

While receiving a delegation from the Lao People’s Revolutionary Party (LPRP) Central Committee’s Commission for State-owned Enterprise (SOE) Reform, led by Saleumxay Kommasith, Politburo member, Deputy Prime Minister and head of the commission, in Hanoi on August 13, PM Chinh commended the strong cooperation between the two countries in various sectors, particularly in SOE reform, a strategically important area for sustainable economic growth in both nations, and a driver of their great friendship, special solidarity, and comprehensive cooperation.

The PM outlined Vietnam’s recent SOE reform efforts, from streamlining enterprise portfolios, advancing equitisation and divesting State capital to refining institutional and policy frameworks to boost operational efficiency.

He affirmed that Vietnam always considers SOEs as one of the key pillars of the economy, while pursuing strong reforms to ensure their operational efficiency, transparency, and compliance with market mechanisms and measures to combat corruption and other negative phenomena.

PM Chinh also shared experience on modern corporate governance, empowering SOEs, integrating information technology and digital transformation in management, fostering innovation to enhance competitiveness, with an emphasis on optimising human resources to ensure their success.

He proposed establishing a regular exchange mechanism between relevant agencies, highlighting that practical experience at Vietnamese State corporations and economic groups would offer Laos comprehensive and in-depth perspectives for effective adaptation.

Saleumxay, for his part, informed his host of the delegation’s constructive meetings with Tran Luu Quang, Secretary of the Communist Party of Vietnam Central Committee and Chairman of the its Commission for Policies and Strategies, and Deputy PM Ho Duc Phoc.

He praised Vietnam’s SOE reform experience and operational models as valuable lessons, affirming that Laos, in its pursuit of an independent and self-reliant economy, seeks to strengthen cooperation with Vietnam, particularly in SOE management, development, and innovative governance models, to build an efficient and sustainable national economy.

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