State Capital Management Committee and 19 Groups and Corporations successfully completed their tasks in 2024

This is the assessment of Deputy Prime Minister Ho Duc Phoc at the conference to review the work in 2024 and deploy tasks in 2025 of the State Capital Management Committee at Enterprises (CMSC) and 19 Groups and Corporations on the afternoon of December 6.

According to Mr. Nguyen Ngoc Canh - Vice Chairman of CMSC, in 2024, the State Capital Management Committee at Enterprises has implemented synchronous solutions to direct and operate to support and promote Corporations and General Corporations to maintain production and business activities, maintain the role of state-owned enterprises as the core force of the state economy, lead and create development momentum for the economy, and well perform the political tasks assigned by the Party and the State. Actively innovate working methods and styles to improve the efficiency of governance and operation activities. Timely remove difficulties and obstacles of Corporations and General Corporations in production, business, investment activities and rearrangement, restructuring, equitization, and divestment of state capital.

The work of handling slow-progressing and ineffective projects and enterprises has achieved positive results. Recently, the Politburo issued conclusions on orientations, principles, and handling procedures for 4 projects and enterprises: (i) Phase 2 expansion project of Thai Nguyen Iron and Steel Plant (Tisco 2); (ii) Quy Xa iron ore mining and selection project, Lao Cai Iron and Steel Plant (VTM project); (iii) Dung Quat Shipbuilding Industry Company Limited (DQS); (iv) Potassium salt mining and processing project in Laos.

Deputy Prime Minister Ho Duc Phoc speaks at the conference

In 2024, the Groups and General Corporations represented by the Committee are estimated to achieve VND 2,030,572 billion in revenue, equal to 120% of the annual plan and 107% over the same period. Pre-tax profit is estimated to reach VND 111,692 billion, equal to 158% of the annual plan and 156% over the same period. The value paid to the State budget is estimated to reach VND 206,206 billion, equal to 153% of the annual plan and 105% over the same period.

The consolidated investment value of 19 Groups and Corporations represented by the Committee is estimated at VND 160 trillion, equal to 130% compared to the same period in 2023; in which, the investment values of a number of large and key projects such as the completion of the 500 kV transmission line project of Nam Dinh I - Pho Noi Thermal Power Plant, the 500 kV transmission line circuit 3 of Quang Trach - Pho Noi; in progress: Nhon Trach 3 & 4 Thermal Power Plant Project (reaching about 73%), Hoa Binh Hydropower Plant Expansion Project (reaching about 87%); Ialy Hydropower Plant Expansion Project (reaching about 97%); Quang Trach I Thermal Power Plant Project (reaching about 120%); Lot B power - gas project chain (reaching about 64%).

Ben Luc – Long Thanh Expressway Construction Project (reached about 81%); Investment project to build container terminals No. 3 and 4 in Lach Huyen, Hai Phong (reached about 54%); T2 Passenger Terminal Construction Project – Cat Bi International Airport (reached about 20%); T3 Passenger Terminal Construction Project – Tan Son Nhat International Airport: The value of completed acceptance volume reached about 78%, the value of implemented volume is estimated at about 155%; Component project 3 – Long Thanh International Airport Project Phase 1: The value of completed acceptance volume is estimated at about 23%, the value of implemented volume is estimated at about 67%.

Along with the achievements, Deputy Prime Minister Ho Duc Phoc pointed out the difficulties and shortcomings in state capital management to find solutions.

Specifically, the State Capital Management Committee at Enterprises and Corporations and General Corporations needs to focus on resolving and discussing the necessity of promulgating laws, comprehensively amending and replacing the Law on Management and Use of State Capital Invested in Production and Business at Enterprises (Law 69/2014/QH13), thereby improving the management of investment capital and allowing enterprises to be proactive in production and business activities, proactive in using investment capital, thus increasing competition in the new trend.

In addition, according to the direction of the Central Steering Committee on summarizing the implementation of Resolution No. 18-NQ/TW, after the arrangement, merger, and organization of the Government apparatus to reduce 5 ministries and 4 agencies under the Government, the Committee needs to coordinate with ministries, branches, and corporations and general companies to have a plan to ensure efficiency and suitability.

Agreeing and highly unifying the policy of innovation and reorganization of the political system, Chairman of the State Capital Management Committee at Enterprises Nguyen Hoang Anh said that the Committee will end its operations and transfer the functions and tasks of exercising the right to represent the owner of 19 Groups and General Corporations to relevant ministries and agencies under the direction of the Central Steering Committee and the Government Steering Committee on summarizing the implementation of Resolution No. 18-NQ/TW dated October 25, 2017 of the 12th Party Central Committee.

“I hope that no matter what position you hold, the Committee and the Corporations and General Companies will always strive to maximize their capacity and responsibility to overcome all difficulties and challenges, seize opportunities to contribute to the socio-economic development of the whole country,” Mr. Nguyen Hoang Anh emphasized.

Source: https://baodautu.vn/uy-ban-quan-ly-von-nha-nuoc-va-19-tap-doan-tong-cong-ty-hoan-thanh-xuat-sac-nhiem-vu-nam-2024-d231866.html