Financial Performance of State - Owned Economic Groups: The Case of Vietnam Coal and Mineral Industries Group

Abstract

The characteristic of state economic groups in Vietnam is that they operate in strategic economic sectors that are difficult for the private sector and other economic sectors to do due to limited financial capacity or management experience. physical. Therefore, economic groups have played an active role in the economic development of the country. Specifically, economic groups have made an important contribution to the growth and development of the country's economy, creating a large source of foreign currency and revenue for the state budget, limiting trade deficit, accelerating the pace of industrial development. industrialization and modernization of the country. At the same time, performing the dominant role, ensuring the production and supply of essential goods and services for the economy; is an important material force for the State to orient and regulate the economy to ensure the balance of supply - demand and to stabilize the prices of essential goods and services for the economy (petroleum, electricity, nitrogen, liquefied petroleum gas, coal, etc.) to stabilize the market, control inflation and fight deflation. In particular, the state-owned economic group plays the role of a locomotive to go ahead, initiate and create a favorable environment for businesses of all economic sectors to develop.

 This article analyzes the current situation and proposes solutions to improve the efficiency of the financial situation, improve the safety and efficiency in business activities of Vietnam Coal and Mineral Industries Group.