An assessment of state-owned enterprises’ performance in Vietnam: the total factor productivity analysis

Abstract

The article uses data from the enterprise census for the period 2011-2021 to estimate and evaluate total factor productivity (TFP) of state-owned enterprises (SOEs) in Vietnam. Although assessment of SOEs requires a separate criteria system, the assessment of SOEs based on financial performance results still has many theoretical and practical meanings. The results show that, if using labor productivity, SOEs have outstanding results. Small and medium-sized SOEs still have relatively good results in terms of TFP contribution to added value. However, the results of large-scale SOEs are lower than those of private enterprises of corrresponding size. This could be due to a number of reasons and should be open to evaluation.