The above statement was made at a conference of military-run economic units recently held by the Ministry of National Defense.

Photo for illustration

Reports at the meeting read that commands and Party committees of military-run economic units effectively conducted a number of emulation movements, such as “Military-run economic units in international integration and development” and “Productivity, quality, efficiency and safety”, while proactively applying scientific and technological advancements to their management of business operation and production in line with the Fourth Industrial Revolution, as well as improving their competitiveness on the market, completing their business and production plans, increasing their turnovers, maintaining jobs and improving living standards of their employees.

Alongside implementing their defense and business tasks, military-run economic units also completed the construction of 28 out of 33 defense-economic zones in line with the instructions of the Central Military Commission and Ministry of National Defense.

They coordinated closely with local authorities in carrying projects and models, supporting local people in stabilizing their lives and production, reducing poverty and eliminating hunger, and building new-style rural areas.

The supports of military-run economic units contributed to promoting local socio-economic development as well as strengthening defense and security in localities.

According to the Emulation and Rewarding Council of the Ministry of National Defense, the military-run economic units that have well implemented resolutions of the Central Military Commission and instructions of the Ministry of National Defense on combining defense and economic activities as well as support for the people in hunger elimination and poverty reduction, include Viettel (Viettel Military Industry and Telecoms Group), MB (Military Joint-Stock Commercial Bank), The New Port, VAXUCO, GAET, TECAPRO, and several economic army corps.

Translated by Thu Nguyen