The objective of the Project is to develop Vietnam Electricity (EVN) into a strong economic group, with sustainable, efficient and profitable business; preserve and develop state capital invested in EVN and EVN’s capital invested in other enterprises; take primary responsibility for ensuring power supply for the national economy and people's lives, ensuring national energy security, providing public products and services in the field of power supply following regulations; play a central role in developing Vietnam Electricity; have modern technology, management and high specialization; produce, trade electricity, and provide electricity consultancy as the main business lines; closely link production and business with science, technology, research and development, and training; maximize the efficiency of the Group; take the core for Vietnam Electricity industry to develop rapidly and sustainably, compete and effectively integrate into the international economy and continue to participate in perfecting and developing the electricity market according to the roadmap prescribed by the Government.
It is targeted to strive for the Group's total revenue to grow by an average of 7-10% by the end of 2025, pay the Group's entire state budget of over VND 23,000 billion/year, and complete expenditures according to the 5-year Production, Business, and Investment Development Plan for the period 2021-2025 approved by the Prime Minister in Decision No. 345/QD-TTg dated April 26, 2024. It is expected to successfully build the image of a business responsible to the community and society, serving customers with increasingly better service quality.
Regarding the orientation and solutions for restructuring enterprises until the end of 2025; for EVN's business lines: Business lines are implemented in accordance with Decree No. 26/2018/ND-CP dated February 28, 2018, of the Government on the Charter of organization and operation of EVN, Decree No. 105/2024/ND-CP dated August 1, 2024, of the Government amending and supplementing a number of articles of Decree No. 96/2022/ND-CP and Decree No. 26/2018/ND-CP and adjusting, supplementing or replacing documents related to the organization and operation of EVN issued by competent authorities in accordance with the provisions of law.
Regarding corporate governance innovation: accelerate the restructuring of corporate governance; apply international practices in corporate governance innovation; at the same time, develop a financial restructuring plan and strengthen financial management; a plan to restructure the personnel and organizational structure.
Investment is orientated in technological innovation to serve the production and business activities of enterprises, environmental protection; and technological improvement roadmap to innovate technology in each part, each stage in a reasonable manner, suitable to the capacity and development orientation of the enterprise. The project also mentions the plan for coordination, joint venture, and association with enterprises in other economic regions and enterprises of the regional nations to form a production supply chain.
Decision No. 1271/QD-TTg dated October 25, 2024, also approved the Plan/list for restructuring the Parent Company - EVN and EVN member units for the period up to the end of 2025; implementation roadmap.
The decision takes effect from the date of signing and promulgation.