In Vietnam, ensuring the leading role of the State economy is one of the basic contents to maintain the socialist orientation. The XIIth Party Congress (2016) continued to affirm: “The socialist-oriented market economy of Vietnam has advanced production relations that is consistent with the level of development of production forces; There are many forms of ownership, many economic sectors, in which the state economy plays a leading role, the private economy is an important driving force of the economy; subjects from all economic sectors are equal, cooperating and competing under the law”. Over the past years, the State economy has played an important role in the Vietnamese economy, contributing to solving the socio-economic problems of our country. This paper will discuss the new understanding of the leading role of State economy in the socialist-oriented market economy in Vietnam and propose some solutions to promote the leading role of State economy.