Institutionalizing the state capital owner in state- owned enterprises

Institutionalizing the state capital owner in state- owned enterprises - 

The Ministry of Industry and Trade has officially handed over the ownership rights of the State capital at 6 groups and corporations under the Ministry as the Electricity of Vietnam (EVN) Petro Vietnam (PVN), Vietnam National Coal and Mineral Industries Holding Corporation (Vinacomin), Vietnam National Chemical Group (Vinachem), Vietnam National Petroleum Group and Vietnam National Tabaco Corporation (Vinataba) to the State Capital Management Committee at the enterprises.

These enterprises holding a total state capital of 555 thousand billion VND (equal to 50% of the total capital of 19 enterprises transferred to the State Capital Management Committee) are the strong economic groups and corporations with the great influence on the economy and contributions to the State budget.

Minister of Industry and Trade Tran Tuan Anh and Chairman of the State Capital Management Committee at the enterprises Nguyen Hoang Anh perform the handover ceremony.

According to Minister Tran Tuan Anh, this handover is a great change in organizing the implementation of Resolution No. 12-NQ/TW of the 5th Plenum (XII Congress) of the Central Committee of Vietnam Communist Party on institutionalizing the state capital owner and establishing a specialized agency acting as owner's representative for State owned enterprises and owner of state capital in enterprises. The establishment of the Committee will overcome the shortcomings of the current model of representing the owner of state capital by establishing a specialized, professional and full explaining responsible owner’s representative agency...

In addition, the separation of state ownership of from state management agencies is necessary to create equal business environment for enterprises, and at the same time facilitate state agencies to focus their capacities on the implementation of State management tasks that more and more complicated in the process of socio-economic development.

Regarding the State Capital Management Committee, immediately after the issuance of Decree 131/2018 / ND-CP, the Committee actively cooperated with ministries, agencies having transferred enterprises and transferred enterprises to implement their functions, tasks and competences as stipulated.

At the same time, the Committee has actively guided the enterprises on the contents of the transfer documents, propagated the provisions of Decree No. 131/2018 / ND-CP and the introductions of Decision No. 1515/QD-TTg of September 9/11/2018 of the Prime Minister for ensuring the transfer documents to be fully and closely completed, and the transfer activities to be ready in accordance with regulations.

Mr. Nguyen Hoang Anh, the Chairmen of State Capital Management Committee showed that the hand-over contents include the legal documents of the enterprise such as the decision on the establishment of the enterprise; the organization and operation charter; the decision on approving the five-year development investment plan and the annual production and business plan of the enterprise; decision on approving the financial regulation, charter capital; decision on the appointing the titles; consolidated financial reports, etc.

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