Vietnam aims to have five state-owned enterprises ranked among the 500 largest companies in the world by 2045, the government portal reported Friday.

The target is set out in a resolution recently issued by the Politburo of the Communist Party of Vietnam Central Committee on the development of the state-owned economy.

By 2045, Vietnam is also projected to have around 60 state-owned enterprises ranked among the 500 largest companies in Southeast Asia, according to the resolution.

The document underscores the goal of improving efficiency and fully bringing into play the leading, pioneering and strategic guiding role of the state-owned economy in key, essential and strategic sectors.