On the morning of November 23, continuing the 8th Session, the National Assembly listened to the Presentation and the report on the review of the draft Law on Management and Investment of State Capital in Enterprises (amended). Vice Chairman of the National Assembly Nguyen Duc Hai chaired the meeting.
Adjusting the scope of law
Presenting the Government's Proposal, Deputy Prime Minister Le Thanh Long said that the draft Law was issued to implement the Party's guidelines and policies and the State's policies on improving the efficiency of management and use of state capital invested in production and business at enterprises, in response to new requirements from management practices and international integration; promptly overcoming the limitations and shortcomings of the current Law on Management and Use of State Capital Invested in Production and Business at Enterprises in Law No. 69/2014/QH13; ensuring the consistency and unity of the Vietnamese legal system.
Regarding the scope of regulation, the Deputy Prime Minister said that Law No. 69/2014/QH13 with the content of "using state capital" and "investing in production and business" shows the detailed and narrow approach, limiting the autonomy of enterprises in using capital and assets in production and business activities; also shows the administrative intervention of the state in the operation of enterprises; does not cover the management of state capital invested in enterprises; and does not include the content of arranging and restructuring state capital in enterprises.
Therefore, it is necessary to adjust the scope in the direction of not specifically regulating the content of "using capital and assets at enterprises". Accordingly, the use of capital and assets is regulated in the direction of "investing state capital in enterprises"; regulations on capital mobilization; purchase, sale, use of fixed assets; management of receivables and payables are assigned to enterprises to decide in order to clearly identify the State as the owner of capital investment, management according to the capital contribution at enterprises, not administrative intervention in the operations of enterprises; strengthen strong decentralization associated with the accountability of enterprises.
Regarding the subjects of application, Article 2 of the draft stipulates: State-owned enterprises as prescribed by the Law on Enterprises, credit institutions in which the State holds more than 50% of the charter capital (excluding: Deposit insurance and policy banks); Capital owner representative agencies, capital owner representatives at state-owned enterprises as prescribed by the Law on Enterprises and credit institutions in which the State holds more than 50% of the charter capital; Relevant agencies, organizations and individuals.
The draft Law consists of 8 chapters and 62 articles, closely following the purpose, guiding viewpoints and specifying the content of 6 policy groups when proposing to develop the draft Law. Specifically: Chapter I - General provisions; Chapter II - Management of state capital invested in enterprises; Chapter III - State capital investment in enterprises; Chapter IV - Investment activities of enterprises; Chapter V - Arrangement and restructuring of state capital in enterprises; Chapter VI - Agencies and representatives of capital owners; Chapter VII - Supervision, inspection, examination, assessment and reporting on the situation of management and investment of state capital in enterprises; Chapter VIII - Implementation provisions.
When the contents of the above draft Law are approved and promulgated, the agencies and organizations subject to regulation are responsible for implementing them, and no additional apparatus is created in the organization of law enforcement.
Innovation and improvement of efficiency of state-owned enterprises
Reviewing the draft Law, Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh said that the Committee basically agreed with the Government's Submission on the necessity of promulgating the Law on Management and Investment of State Capital in Enterprises to replace the Law on Management and Use of State Capital Invested in Production and Business at Enterprises. The provisions of the draft Law will contribute to institutionalizing the Party's viewpoints and policies on continuing to restructure, innovate and improve the efficiency of state-owned enterprises (SOEs); ensuring that SOEs operate according to market mechanisms, respecting and enhancing the autonomy and self-responsibility of enterprises; and strengthening state inspection and supervision in the management and investment of capital in enterprises.
The Finance and Budget Committee found that the scope of regulation and subjects of application stipulated in the draft Law have ensured consistency and consistency with the provisions on State-owned enterprises of the Enterprise Law. However, in addition to enterprises with more than 50% state capital, there are currently other types of enterprises with state capital investment that have not been regulated in the scope of regulation of the Draft Law. Therefore, it is recommended to consider and supplement the scope of management and investment of state capital to have principled regulations in the Draft Law and at the same time, assign the Government to provide detailed regulations for these enterprises with state capital investment with appropriate measures and levels of management.
Regarding the provisions on the tasks and powers of the Government, Ministries, ministerial-level agencies, provincial People's Committees and agencies representing state capital owners in managing state capital invested in enterprises, the Finance and Budget Committee finds that the draft Law has detailed regulations on the tasks and powers of the Government, Ministries, ministerial-level agencies, provincial People's Committees and agencies representing state capital owners. It is recommended that the drafting agency continue to research, review and stipulate regulations to ensure compliance with the Law on Organization of the Government, the Law on Organization of Local Government, the Law on Promulgation of Legal Documents and related legal provisions; ensure consistency in the Law on the rights and responsibilities of the Prime Minister; the rights and responsibilities of the Ministry of Finance as the agency assisting the Government in state management of management and investment of state capital in enterprises.
Regarding profit distribution and use of the Fund, Mr. Le Quang Manh said that the Committee found that the allocation of a maximum of 50% of after-tax profits to the Development Investment Fund for enterprises with 100% state capital investment is appropriate. The draft Law has revised the provisions on the purpose of using the Development Investment Fund for enterprises in the direction that it will be implemented according to the Government's regulations. The Finance and Budget Committee agreed with the draft Law; however, it proposed to supplement the draft Decree guiding the implementation of this content to ensure compliance with the provisions of the Law on Promulgation of Legal Documents. At the same time, the Draft Decree needs to specify the authority, decision, scope, and content of the use of the Fund, ensuring the principle that state capital after being invested in enterprises is determined as the assets and capital of the enterprise.
Regarding the rights of the capital owner representative agency, Point c, Clause 1 (Article 41) stipulates that the capital owner representative agency has the right to decide and approve the "business plan" of an enterprise with 100% state capital. According to Point b, Clause 2, Article 14, the annual production and business plan of an enterprise includes basic contents such as objectives, revenue, profit, profit distribution plan, payment to the state budget, investment and development plan, etc. The Chairman of the Finance and Budget Committee said that, in order to institutionalize Resolution No. 12-NQ/TW on autonomy and self-responsibility in the operations of state-owned enterprises according to market principles, it is proposed to transfer the authority to decide on production and business plans from the capital owner representative agency to the enterprise; The capital owner's representative body only gives opinions on a number of key indicators to ensure consistency with the business strategy and operational efficiency of the enterprise such as goals, revenue, profit, profit distribution, and budget payments.
Source: https://baotainguyenmoitruong.vn/nang-cao-hieu-qua-quan-ly-su-dung-von-nha-nuoc-tai-doanh-nghiep-383566.html
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