Special capital management body urged to ensure effective use of State capital
18:06 | 12/02/2018
VGP – PM Nguyen Xuan Phuc urged the newly-established Committee for State Capital Management to put forward mechanisms and policies to ensure the highest effectiveness of property and capital invested at enterprises.

PM Nguyen Xuan Phuc (R) hands over decision to appoint Nguyen Hoang Anh as Chairman of the Committee for State Capital Management. Photo:VGP

The Government chief stressed the point at a ceremony to hand over a decision appointing Mr. Nguyen Hoang Anh, former Secretary of the Cao Bang Provincial Party Committee, as Chairman of the Committee for State Capital Management, on Monday.

At present, the Committee for State Capital Management is responsible for managing State assets and capital capitalized at around VND 5.4 quadrillion (US$239 billion.

The Governmental body must coordinate closely with ministries, agencies and localities to chalk out concrete measures to combat corruption, wastefulness at State owned enterprises, PM Phuc said.

In the long run, the Committee must hasten the equitization and capital withdrawal process while raising operational efficiency of the SOEs, especially State groups and corporations.

Equitization must be done in a transparent and open manner in order to ensure the maximum interests of the State, PM Phuc emphasized.

The Committee is allowed to be responsible for selecting personnel, especially top management posts and must take the lead in innovating management methods.

PM Phuc also urged the Ministry of Planning and Investment to submit a Decree defining functions, tasks, powers and organizational structure of the Committee right in February.

Meanwhile, the Ministry of Finance, the Ministry of Planning and Investment, relevant ministries and agencies, and SOEs have to quickly report on the performance of the enterprises under the Committee’s management.

Earlier, the Government issued Resolution 09/NQ-CP last Saturday to set up the special committee.

On February 8, the Government chief decided to appoint Mr. Nguyen Hoang Anh as the Committee’s Chairman.

Tuan was born in 1963 in Hai Phong City’s An Lao District. He holds a master’s degree in world economy and international economic relations and a bachelor’s degree in political theory./.

By Khanh Phuong

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