Arrange and restructure State investment capital in enterprises

Deputy Prime Minister Le Thanh Long presented a report on the draft Law on Management and Investment of State Capital in Enterprises.

Continuing the program of the 8th Session of the 15th National Assembly, on the morning of November 23, the National Assembly held a plenary session in the hall to listen to the presentation and report on the examination of the draft Law on Management and Investment of State Capital in Enterprises.

The Draft Law on State Capital Management and Investment in Enterprises is built on the basis of closely following the purpose, guiding viewpoints and specifying the content of 6 policy groups in the dossier proposing the development of the law project that has been approved by the Government, submitted to the Standing Committee of the National Assembly for approval and approved by the National Assembly; aiming to specify the Party's guidelines and policies in Resolution 5 of the 12th Central Committee, Documents of the 13th National Congress of Delegates and international commitments that Vietnam has signed on the management and investment of State capital in enterprises; resolving difficulties and obstacles in the implementation of Law No. 69/2014/QH13.

The Draft Law on Management and Investment of State Capital in Enterprises is developed to perfect the institution and stabilize the legal environment for State capital investment in enterprises; create a complete and stable legal environment and corridor for State capital management and investment in enterprises; ensure respect for and enhance the autonomy and self-responsibility of enterprises, along with strengthening State inspection and supervision in capital management and investment in enterprises; ensure that enterprises operate according to market mechanisms in business sectors and occupations as required by the State (owner).

At the same time, enhance the role and operational efficiency of State-owned enterprises commensurate with the State capital invested in enterprises, ensuring that enterprises with State capital play a leading role and hold a key position in the economy; mobilize and promote all resources of the State economic sector in general and State-owned enterprises in particular for socio-economic development.

Presenting the review report on the draft Law on Management and Investment of State Capital in Enterprises, Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh said that 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; ensuring that State-owned enterprises 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 majority of opinions agreed with the viewpoint of strongly reforming administrative procedures in the management and investment of State capital in enterprises, associated with clear assignment and strong decentralization between the agency representing State capital owners and enterprises; separating the functions and tasks of State management agencies and the agency representing capital owners from the production and business activities of enterprises as stated in the Government's submission.

However, in addition to enterprises with more than 50% state capital, there are currently other types of enterprises with state capital investment that are not yet regulated within the scope of the draft law.

Therefore, the National Assembly's Finance and Budget Committee proposed to consider and supplement the scope of management and investment of State capital to have principled regulations in the draft law; at the same time, assign the Government to specify details for these State-invested enterprises with appropriate measures and levels of management.

The Finance and Budget Committee finds that allocating 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 regulations on the purpose of using the Development Investment Fund for enterprises in the direction that it will be implemented according to Government regulations.

The Finance and Budget Committee agreed with the draft law but 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 fund use, ensuring the principle that State capital after being invested in an enterprise is determined to be the asset and capital of the enterprise.

Regarding the arrangement and restructuring of State investment capital in enterprises (Chapter V), the Finance and Budget Committee basically agrees with the principles of arrangement and restructuring of State investment capital in enterprises stated in the draft law.

However, the Finance and Budget Committee proposed that the Drafting Agency review and supplement a number of principles to ensure the spirit of Resolution No. 12-NQ/TW, dated June 3, 2017 of the 5th Conference of the 12th Party Central Committee on "continuing to restructure, innovate and improve the efficiency of State-owned enterprises" such as: applying advanced asset valuation methods in accordance with the market mechanism; ensuring that State capital, assets and enterprise value are fully, reasonably, publicly and transparently valued; supplementing regulations on handling cases of undervaluation of assets and enterprise value, causing loss of State capital, and stipulating the responsibility of independent valuation consulting organizations in valuing assets, capital and determining enterprise value.

TB (according to VNA)

Source: https://baohaiduong.vn/sap-xep-co-cau-lai-von-dau-tu-cua-nha-nuoc-tai-doanh-nghiep-398680.html