Vietnam to form commission to manage state capital in first quarter

Wednesday, 2018-01-17 11:13:40
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The National Oil and Gas Group (PVN) is one of 30 state companies to be transferred to the commission.
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NDO - The government is aiming to establish a special commission to manage state capital in enterprises in the first quarter of 2018, Deputy Prime Minister Vuong Dinh Hue said on January 16.

He also urged the ministries and sectors to accelerate the equitisation of state-owned enterprises in accordance with the set schedule.

Deputy PM Hue asked the Ministry of Home Affairs to submit the proposal on the establishment of the commission to the government meeting in February, while the Ministry of Planning and Investment has been tasked with detailing the commission’s structure, functions and duties.

He stated that when the commission begins to take charge of state-owned enterprises, ministries must not evade responsibility for those formerly under their authority, expressing his concern that this could result in delays in equitisation.

Hue emphasised “There remains a number of ailing projects under the Ministry of Industry and Trade and other ministries and the Government and Prime Minister’s instructions on their responsibilities are still valid”.

The commission is designed to be a government agency in charge of managing and supervising state capital and assets at enterprises and implementing policies on enhancing the efficiency of state-owned enterprises.

It is expected that 30 state groups and corporations worth a total of over US$237 billion will be transferred to the commission.