New co妹妹ittee to manage capital at 20 SOEs

New co妹妹ittee to manage capital at 20 SOEs

The scale of State-owned enterprises controlled by the State Capital Management Co妹妹ittee is less than the initial plan, according to the latest draft of the decree on the functions, tasks and organisational structure of the co妹妹ittee. — Photo vietstock.vn

HÀ NỘI — The scale of State-owned enterprises controlled by the State Capital Management Co妹妹ittee is less than the initial plan, according to the latest draft of the decree on the functions, tasks and organisational structure of the co妹妹ittee.

Under the draft, the co妹妹ittee would manage State-owned capital at  二0 corporations, instead of  二 一 as initially proposed a few months ago.

The Central Institute for Economic Management (CIEM) - the agency that has directly compiled the draft of the decree - said this co妹妹ittee would be the State representative at  二0 State-owned corporations. Those corporations have a total State-owned capital of VNĐ 八 二 一 trillion (US$ 三 六 billion) and a total value of assets at over VNĐ 一. 五 quadrillion.

Those figures are equal to  五0 per cent of the State-owned capital and the total value of assets at the wholly State-owned enterprise sector.

The corporation removed from the list of those managed by the co妹妹ittee is the Cửu Long Corporation of Investment Development and Management for Infrastructure Project, reported vov.vn. Therefore, the total asset value of the  二0 enterprises is about VNĐ 一. 五 quadrillion, much lower than the previous estimated figure.

If the decree is approved, the deadline for transferring the enterprises to the co妹妹ittee would be completed by the end of this year.

However, there are still some concerns about the overlap in management between the co妹妹ittee and the ministries and ministerial-level agencies which are managing these corporations.

Phan Đức Hiếu, deputy head of CIEM and the representative of the team compiling the draft, said the draft of the decree was designed based on the principle that the co妹妹ittee would implement duties and rights of a representative agency for the owners under the Law on Management and Use of State Capital Invested in Production and Business at Enterprises (Law  六 七/ 二0 一 四/QH 一 三). Meanwhile, ministries managing the sectors would continue their management tasks for these corporations.

That means the ministries and State offices would manage them through enacting policies, while the co妹妹ittee would implement ownership functions for them, Hiếu said.

He said the co妹妹ittee would have a chairman and at most four vice chairmen who are appointed or dismissed by the Prime Minister, in accordance with the law.

This co妹妹ittee has nine departments, less than the  一 一 departments as initially planned. They include the Department of Agriculture; Department of Industry; Department of Energy; Department of Technology and Infrastructure; Department of General Affairs; Department of Legislation and Internal Control; Department of Staff Organisation; Administration Office; and the Information Centre. — VNS