State groups and corporations strive to overcome Covid-19 impact

Participants included Pham Tan Cong, Permanent Deputy Secretary of the Party Committee of the Centrally-run Businesses’ Sector; CMSC Vice Chairworman Nguyen Thi Phu Ha; CMSC Vice Chairman Ho Sy Hung; and representatives of the office, departments and information center of the CMSC and 19 member groups and corporations.

Certain impacts

According to reports by groups and corporations, they have taken the initiative in activities to prevent Covid-19 spread and cope with its impact. They have got well-prepared in terms of equipment and human resources while at the same time intensifying communications to disseminate among workers information about the pandemic, including the guidelines of the government, the Ministry of Health and other ministries and sectors, as well as warnings given by the International Health Organization, in order to enable timely implementation.

Pham Tuan Anh, Director of the Department of General Affairs of the Commission for the Management of State Capital at Enterprises, reports on the production and trade situation at businesses under its management in the context of Covid-19 outbreak

The Covid-19 pandemic has had certain impacts on production and trade activities of groups and corporations managed by the CMSC, especially those operating in the fields of transportation, industry and agriculture. They have taken the initiative in taking timely measures to minimize the impacts of the pandemic. Energy companies so far have suffered inconsiderable impacts of Covid-19.

Duong Tri Thanh, General Director of the Vietnam Airlines Corporation

Updating on the number of air passengers, Vietnam Airlines Corporation General Director Duong Tri Thanh said that the outbreak of Covid-19 in Japan and the Republic of Korea – the two major markets of Vietnam Airlines – had made the situation worse. The closing of education facilities is among the reasons why this summer will not be a peak time for the air transport sector.

Le Manh Hung, General Director of the Vietnam National Oil and Gas Group (PVN)

According to Le Manh Hung, General Director of the Vietnam National Oil and Gas Group (PVN), experts predicted a downward trend in global prices of crude oil due to a decline in demand.

Tran Dinh Nhan, General Director of the Electricity of Vietnam (EVN) Group (standing)

At the conference, Tran Dinh Nhan, General Director of the Electricity of Vietnam (EVN) Group, said that compared with other groups and corporations, EVN remains less vulnerable to the impact of Covid-19. However, if the pandemic continues expanding, it will slow down power source and grid projects of EVN as well as other investors, creating difficulties for power supply in the 2021-2025 period.

According to Tran Dinh Nhan, four power source projects and 13 transmission grid projects of EVN have been affected by Covid-19.

For example, Turbine S1 of the Vinh Tan 4 Thermal Power Plant is undergoing repairs and final examinations before an official acceptance certificate is granted. Earlier, the project was scheduled to be implemented in February with the participation of 34 experts from the Republic of Korea. So far, however, only six experts have come to Vietnam. This situation will affect the progress of the project.

Another project to increase the capacity of the transformer at the 500kV Nho Quan Substation scheduled to be implemented in late March has also been postponed because Chinese experts could not come to Vietnam. This will affect power supply during the dry season of 2020. EVN is seeking ways to ensure uninterrupted power supply.

Tightening coordination to minimize Covid-19 impact

Pham Tan Cong, Permanent Deputy Secretary of the Party Committee of the Centrally-run Businesses’ Sector (standing)

At the conference, Pham Tan Cong emphasized the Prime Minister’s guideline to fight against Covid-19 as an enemy. The Party Committees and Management Boards of 19 groups and corporations managed by the CMSC have seriously followed the guidance of the government. “I highly appreciate the self-consciousness, proactivity and determination of groups and corporations in preventing the spread of the pandemic. So far, none of their managers and workers has been infected with SARS-CoV-2 virus – this is a great result,” he said. 

Commission for the Management of State Capital at Enterprises Chairman Nguyen Hoang Anh (standing) gives a speech

Addressing conference participants, CMSC Chairman Nguyen Hoang Anh praised 19 groups and corporations for their sense of initiative in assessing risks and challenges and taking timely measures to prevent the spread of the disease as well as to maintain production and trade.

“We continue to effectively implement political tasks assigned by the Government, maintaining market and production stability. So far, none of staff members of groups and corporations managed by the CMSC has been infected with SARS-CoV-2 virus” Chairman Nguyen Hoang Anh said.

Despite initial positive results in Covid-19 prevention and control, CMSC Chairman Nguyen Hoang Anh asked groups and corporations not to be subjective and to seriously implement prevention and control measures in the coming time.

Groups and corporations should evaluate the impact of the pandemic on their trade and production activities; prepare scenarios, including the worst case scenario, and report the situation weekly to the CMSC; and forecast the time of ending the pandemic to start work on promoting trade and production activities.

They should also save costs to maximize profits; promote financial restructuring; count the expected damage caused by the pandemic, prepare a debt restructuring plan and work with commercial banks to seek financial support solutions; and pay attention to health and income of employees.

Anh said the commission will always hear the advice and opinions of groups and corporations and create favorable conditions to help them overcome difficulties and promote development. This is a challenging period, but also an opportunity for the state-owned sector to assert its role. Groups and corporations should accompany, share and support each other for mutual development, Anh said.