Minister of Finance: Managing state-owned enterprises, salaries and bonuses based on the three rem will not have talented people.

The representative of state capital management at enterprises plays an important role in preserving and developing state capital, so there needs to be a management and evaluation mechanism with appropriate remuneration.

Delegate Nguyen Manh Hung - Photo: National Assembly

On the afternoon of November 29, the National Assembly discussed the Law on State-owned Enterprises (amended), proposing the need to effectively use state capital in enterprises.

According to delegate Hoang Van Cuong ( Hanoi ), state-owned enterprises currently hold a large amount of capital and assets but operate less dynamically and are less effective than private enterprises.

The reason is that the management mechanism is overlapping, binding and rigid, so responsibilities are not clearly defined.

Appoint a capital representative with full authority to decide on personnel?

With the principle that when there is state investment, there must also be a mechanism to monitor and manage the capital there, Mr. Cuong said that it is necessary to expand the scope of regulation and the subjects of application of the law. Accordingly, it is not only limited to enterprises holding more than 50% of charter capital, but also needs to expand to subjects holding less than 50% of capital, F2, F3 enterprises...

In particular, the representative of state capital should be amended accordingly. Instead of a group of people, the owner's representative agency should appoint or hire a representative to be in charge of managing capital. The representative should not only be assigned and implement targets and plans, but also have full authority in organizing the apparatus and selecting according to standards.

According to delegate Nguyen Manh Hung ( Can Tho ), the model of the state capital ownership agency at enterprises, specifically the State Capital Management Committee at enterprises, was established in 2018 to separate state management and capital management, but its activities are still administrative and not linked to the operational expertise of the enterprise.

Therefore, the selection of a capital owner representative model plays an important role in determining the rights and responsibilities of this agency. It is necessary to clarify whether this is a state management agency, an administrative agency or a form of government investment fund.

Accordingly, the ownership function should be separated from the state management function. Limit administrative interventions in operations, attach accountability, provide transparent information and supervision.

At the same time, it is necessary to create a mechanism for recruiting management and executive personnel linked to work efficiency, meeting high requirements for capacity, independence, and integrity; operating in a model with supervision and balance of power.

Need to regulate increased autonomy of state-owned enterprises

Agreeing, delegate Trinh Xuan An (Dong Nai) said that with the goal of untying and creating maximum conditions for state-owned enterprises, administrative regulations should be reviewed and reduced. Accordingly, it is necessary to increase the autonomy and self-determination of the board of members, associated with innovation in the model of representing capital ownership in a more "revolutionary" manner.

Currently, many national corporations, such as national oil and gas, national airlines, etc., are also classified together with other enterprises without criteria for leading and core enterprises. Therefore, legal regulations need to have this criterion to distinguish core enterprises to promote their roles.

Minister Nguyen Van Thang - Photo: National Assembly

Explaining the opinions, Minister of Finance Nguyen Van Thang thanked the delegates for their trust in electing him to the position of Minister of Finance and pledged to make every effort in his new role, to fully and seriously absorb the delegates' opinions to study and complete the draft law.

Agreeing with the views of many delegates, Mr. Thang said that this amendment aims to improve the efficiency of state capital investment management in enterprises to ensure equality, and link rights and responsibilities with other investors according to international practices.

Therefore, it is necessary to end administrative intervention in business investment and enterprise operations, ensuring operations in accordance with market principles.

Regarding the delegate's proposal to expand the scope of subjects from 50% capital or less, Mr. Thang said that he will study and accept it to report to the Government, supplementing it to the draft as appropriate. At the same time, he will study and accept the regulations on business development strategies and plans to avoid creating barriers.

Regarding the opinions on the representative of the capital of the enterprise, the new Minister of Finance said that this position plays an important role in preserving and developing capital. Therefore, there needs to be a management and evaluation mechanism, attaching appropriate remuneration regimes and tools to ensure efficiency.

"If we introduce a strict mechanism, they will work very hard, but if the salary and bonus are based on three levels and ranks, there will never be talented people, and if there are talented people, they will not fulfill their responsibilities. Enterprises in other industries pay 5-10 times more, while representatives of state capital are paid very low, which is clearly not acceptable," said Mr. Thang.

Accordingly, Mr. Thang agrees with having objective and transparent regulations for managers. When doing well and exceeding profits, there will be bonuses, but if doing poorly, there can be warnings, even dismissal to be fair.

This is also applied similarly to the mechanism of private enterprises, to increase efficiency in management to solve the most current difficulty, which is the salary and bonus regime of representatives of state capital in enterprises.

Source: https://tuoitre.vn/bo-truong-tai-chinh-quan-ly-doanh-nghiep-nha-nuoc-luong-thuong-theo-barem-thi-khong-co-nguoi-tai-20241129171938436.htm