Dissolve the State Capital Management Committee at Enterprises from March 21

According to information from the Government Newspaper, the State Capital Management Committee at Enterprises was dissolved from March 21.

The Government assigned the Ministry of Home Affairs to review and propose the abolition of Decree No. 131/2018/ND-CP dated September 29, 2018 of the Government stipulating the functions, tasks, powers and organizational structure of the State Capital Management Committee at enterprises in accordance with the provisions of law.

The Ministry of Finance takes over the management of 18 corporations and general companies.

This conversion is carried out based on Resolution No. 18 of the Central Executive Committee on restructuring and streamlining the apparatus. The functions and tasks of the State Capital Management Committee at Enterprises are transferred to the Ministry of Finance, specialized ministries and relevant agencies.

The State Capital Management Committee was established on February 3, 2018. The State Capital Management Committee at Enterprises performs the function of representing the owner of state capital, creating conditions for state administrative management agencies to improve the effectiveness of state management and the quality of state enterprise governance, contributing to perfecting the socialist-oriented market economic institution.

Business results at enterprises managed by the State Capital Management Committee at Enterprises grew well, the total value of state capital was preserved and developed.

However, during the operation of the State Capital Management Committee at Enterprises, there are still some limitations that make the State Capital Management Committee at Enterprises operate in an administrative manner, failing to achieve the goals and expectations when it was established.

Previously, on the morning of February 28, 18 corporations and general companies were transferred from the State Capital Management Committee at Enterprises to the Ministry of Finance.

18 corporations and general companies were transferred:

Vietnam Oil and Gas Group (PetroVietNam)

Vietnam Electricity Group (EVN)

Vietnam National Coal and Mineral Industries Group (TKV)

Vietnam Chemical Group (Vinahem)

Vietnam Posts and Telecommunications Group (VNPT)

Vietnam National Petroleum Group (Petrolimex)

Vietnam Rubber Industry Group (VRG)

State Capital Investment Corporation (SCIC)

Vietnam National Tobacco Corporation (Vinataba)

Vietnam Airlines Corporation (VNA)

Vietnam National Shipping Lines (VIMC)