According to Associate Professor, Dr. Nguyen Thuong Lang (National Economics University), there must be a mechanism to deal with organizations and individuals who do not complete this task.
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| Associate Professor, Dr. Nguyen Thuong Lang (National Economics University). |
Since the beginning of the equitization and divestment process in the early 2000s, do you think that the task of restructuring state-owned enterprises has never been as difficult as in recent years?
According to the Ministry of Finance, in 2022, enterprises belonging to corporations, general companies, state-owned enterprises under ministries, branches and localities will only divest about 593 billion VND, earning 3,600 billion VND; the whole year, only 1 enterprise will be equitized with a total enterprise value of 309 billion VND, of which the actual value of state capital is 278 billion VND. While the estimate has been approved by the National Assembly, these two revenues in 2022 must be paid to the state budget of 30,000 billion VND.
In 2023, the results were even worse, when only 65.2 billion VND of state capital was divested from 12 units, earning 229 billion VND and no units were equitized. In 2024, the results were no better than in 2023, the number of equitized enterprises was still zero; only 4 units were divested from state capital with a total value of 139 billion VND of state capital, earning 149.2 billion VND.
What causes this situation, sir?
The main reasons are that the equitized and divested enterprises are large-scale, owning a lot of land; after Covid-19, the domestic financial and stock market situation is not good; major economies in the world tighten bank capital to deal with inflation. The work of determining the value of enterprises, making plans for land use to implement equitization, and implementing auctions of state capital also faces many difficulties.
The "inherent" cause that has not been resolved is that the awareness and implementation of some representative agencies of owners and heads of enterprises are not high, and there is a lack of determination in organizing and implementing, so there is still a coping mindset. In addition, the coordination between representative agencies of owners with provincial People's Committees and relevant ministries and branches in the implementation of the preparation and approval of plans to rearrange and handle houses and land according to regulations on rearrangement and handling of public assets is still not good, the approval progress is still slow...
One of the reasons why the divestment and equitization process has recently “froze” is that there are no sanctions against ministries, branches, localities, and representatives of state capital ownership in enterprises. What is your opinion?
This is a very important aspect to increase the seriousness of the law. Not only in equitization and divestment activities, but in any field, if there are no strict sanctions, the work will only be "enthusiastic" at first, but later on it will become... weaker.
The process of equitization and divestment of state capital in enterprises that the State does not need to invest in, if viewed from the perspective of an administrative order, must be implemented to accelerate the reform and restructuring of state-owned enterprises, so that state-owned enterprises can operate more effectively, then there must be strict sanctions to ensure full implementation. State management agencies and enterprises must actively and proactively organize implementation. These sanctions need to be stipulated in specific and clear legal documents. This should have been strictly stipulated in legal documents many years ago.
If sanctions are developed now, it will take some time to be implemented. However, the development of sanctions to deal with officials who do not fully implement their responsibilities for equitization and divestment needs to be fully assessed in terms of the level of sanctions and the content of application to avoid causing avoidance or "fear of responsibility", or even shirking responsibility. In addition to sanctions, it is necessary to promote information and propaganda work, raise awareness and promote the leading role of business leaders, promote the role of direct management agencies, and promote new development drivers for equitization and divestment.
According to him, with the divestment and equitization process as in recent years, will the plan to restructure state-owned enterprises and enterprises with state capital in the 2022-2025 period according to Decision 1479/2022/QD-TTg be completed?
If implemented synchronously and resolutely, with the participation of the entire political system, this process is likely to achieve the basic goals set out in Decision 1479/2022/QD-TTg. We have accumulated a lot of experience in equitization and divestment from tens of thousands of state-owned enterprises with important successes and many good practices have been promoted.
The number of about 200 enterprises divesting capital this time is spread across most localities and sectors of the economy. In fact, there are enterprises operating in similar industries such as the environment, urban areas or trade. If equitization and divestment are successful in one enterprise in the same industry, it will be a good practice, a good model for many other enterprises to learn and apply. Therefore, there is an opportunity to learn from each other, draw good experiences from successful deals, reduce costs and time for research and exploration, contributing to the good implementation of Decision 1479/2022/QD-TTg. In addition, relevant agencies also need to learn, summarize and evaluate the experiences of other countries in divestment and privatization to serve as reference lessons, reduce risks, time, and costs for research and summary.
In case the plan is not completed, what should be done after 2025 to restructure state-owned enterprises?
Decision 1479/2022/QD-TTg is very specific, detailed and timely to implement the plan to restructure state-owned enterprises and enterprises with state capital according to the roadmap. Implementation solutions are built right in Decision 1479/2022/QD-TTg.
In case of failure, it is necessary to conduct a comprehensive, thorough and complete re-evaluation of the achieved results, raise issues that need to be resolved, and deeply analyze both objective and subjective causes for each specific case. In particular, it is necessary to focus on analyzing new factors and finding real, specific motivations for each enterprise and each industry. Clearly identify and evaluate the responsibilities and roles of relevant parties, from management agencies to enterprises, the reasonableness of regulations and implementation procedures. This is the basis for proposing mechanisms and policies to continue restructuring state-owned enterprises and enterprises with state capital for the next phase.
Source: https://baodautu.vn/can-xu-ly-to-chuc-ca-nhan-khong-hoan-thanh-co-phan-hoa-d223406.html
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