Special committee to manage VND5,400 trillion capital at State-owned enterprises

The Hanoitimes – Prime Minister has signed a decision to set up a working group in charge of forming a special committee dedicated to manage huge capital and assets worth some VND5,400 trillion (US$237.89 billion) at state-owned enterprises (SOEs). Deputy Prime Minister Vuong Dinh Hue is the head of the working group, which is also include four deputy heads — Nguyen Hoang Anh, former Secretary of Cao Bang Province Party Committee, Minister-Chairman of Government Office Mai Tien Dung, Minister of Planning and Investment Nguyen Chi Dung and Minister of Finance Dinh Tien Dung.     The special committee will manage state capital at 30 state-owned enterprises, including the National Oil and Gas Group The working group will act as a consultant to the Prime Minister in setting up the special committee. During a last year’s conference between the government, ministries, and localities, Phuc stressed that this committee, which represents ownership of enterprises’ state capital, will be founded in 2018′s first quarter, in order to more effectively supervise and manage state capital and assets, and to create a more transparent business climate. The Ministry of Planning and Investment’s drafted plan to establish this committee was submitted to the government a long time ago, following many discussions and conferences. The committee will not manage SOEs’ performance, instead purely looking at their state capital and assets. All enterprises will continue operating under the law and report their operational results to their relevant sector-specialized bodies such as finance, banking, environment, and industry and trade…. [Read full story]

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