Latest information on the fate of 19 corporations and general companies

(Dan Tri) - The Deputy Prime Minister said that 19 corporations and general companies will be transferred to the management of ministries and branches after the State Capital Management Committee at Enterprises ceases its operations.

At the year-end conference of the State Capital Management Committee at Enterprises on the afternoon of December 6, Deputy Prime Minister Ho Duc Phoc highly appreciated the Committee's work in managing State capital at enterprises. A number of corporations have successfully completed their assigned tasks, with total consolidated revenue reaching over VND2 million billion, up 7% over the same period, up 120% over the set plan.

"However, the State Capital Management Committee at Enterprises also faces many difficulties and obstacles. Therefore, we must make efforts to completely change the management form so that corporations and general companies can be proactive in production and business, avoiding the situation of both playing football and blowing the whistle," the Deputy Prime Minister acknowledged.

The Government leader said that the current management model of the Committee is not stipulated in the law but operates based on a decree. This causes the apparatus structure to be multi-layered, without synchronous coordination with ministries and branches, leading to inadequacies in management...

"Therefore, the Commission's merger and separation to streamline the apparatus as required by Resolution 18 will help businesses truly grow and create breakthroughs," the Government leader affirmed.

Thus, a part of the Committee will be transferred to the Ministry of Finance, a part will be transferred to the ministries. Therefore, regarding the issue of enterprise management, the Government is currently synthesizing opinions, then the Committee will meet with enterprises and ministries about the arrangement.

Thông tin mới nhất về số phận 19 tập đoàn, tổng công ty - 1 — Deputy Prime Minister Ho Duc Phoc requested the State Capital Management Committee to reorganize, streamline, and bring 19 corporations and general companies under the management of ministries and branches (Photo: CMSC).

"The point of view is to bring enterprises back to ministries and sectors, including the staff and management system, but the relationship between capital management and sector management, between owners and capital managers must be like this to be most effective. This is an issue that will be done and must be done very quickly, and must be completed before February 25, 2025," the Deputy Prime Minister emphasized.

The Deputy Prime Minister requested the Committee to carry out mergers and separations in the most scientific and effective manner, avoiding disruption and causing confusion among officials and employees. In particular, the work of the units must not be interrupted, and it is necessary to continue to improve the efficiency of State capital management, so that State-owned enterprises can be "iron fists", apply information technology, and attract resources.

Mr. Nguyen Hoang Anh, Chairman of the State Capital Management Committee at Enterprises, stated that corporations and general companies need to continue to promote investment and development, and resolutely and effectively restructure enterprises according to appropriate conditions and roadmap.

"The Committee highly agrees with the Party Central Committee's policy on streamlining the apparatus according to Resolution 18. Accordingly, the Committee will end its function of managing State capital," he emphasized.

The Chairman of the State Capital Management Committee at Enterprises said that a steering committee has been established and the contents have been implemented according to the Government's instructions. The committee will consult with the Prime Minister before working with ministries, branches and enterprises.

"The State Capital Management Committee at Enterprises has also asked for the Deputy Prime Minister's opinion on arranging staff to work at ministries, branches or organizations under the direction of the Government," Mr. Nguyen Hoang Anh added.

To date, the total equity of 19 State-owned corporations and groups managed by the Committee has reached VND1,180 trillion (up 11% compared to 2018); total assets have reached VND2,540 trillion (up 5%); total consolidated revenue has reached VND1,850 trillion (up 44%). Total contribution to the State budget in the 2018-2023 period has reached VND1,280 trillion, accounting for an average of 10-12% of the country's total annual revenue.

19 enterprises directly represented by the Committee as owners include:

1. State Capital Investment Corporation

2. Vietnam Oil and Gas Group

3. Vietnam Electricity Group

4. Vietnam National Petroleum Group

5. Vietnam Chemical Group

6. Vietnam Rubber Industry Group

7. Vietnam National Coal - Mineral Industries Group

8. Vietnam Posts and Telecommunications Group

9. MobiFone Telecommunications Corporation

10. Vietnam Tobacco Corporation

11. Vietnam Airlines Corporation