HÀ NỘI — The committee for the management of State capital at enterprises must focus on two key long term tasks; which are bolstering the equitisation and divestment of State capital and improving the capacity and efficiency of State-owned enterprises, especially large corporations, said Prime Minister Nguyễn Xuân Phúc. 

The Government leader made the call at a ceremony on February 12 handing out a decision to appoint Nguyễn Hoàng Anh, former Secretary of Cao Bằng Province Party Committee, to the post of chairman of the special committee to manage State capital at enterprises. 

For the first task, the Prime Minister said the privatisation process must follow the principles of publicity and transparency as well as bringing the greatest benefit to the State.

He stressed that due attention must be given to the fight against vested interests and corruption in every phase of the equitisation process, asking the committee to collaborate with relevant agencies to chalk out concrete measures to prevent corruption, losses and waste

The PM also stressed the need to improve the modern corporate governance system, adherence to market principles, and effectively measure job performance of managers and employees. He called for the committee to apply modern science and technology to raise the efficiency of the use of investment capital, increase labour productivity, thereby creating spillover effects to other enterprises and the whole economy.

The Prime Minister also required the committee to exercise its power in monitoring and inspecting the operation of enterprises under its management. 

The PM asked ministries, committees and branches to support the committee to soon come into operation and fulfill its assigned tasks.

He assigned the Ministry of Planning and Investment to present in February this draft decree defining the functions, tasks, powers and organisational structure of the Committee.

The Ministry of Finance, the Ministry of Planning and Investment and concerned agencies were also urged to promptly report on the operation of the enterprises which they intend to transfer to the committee; and cooperate closely with the committee in developing the specific plans and roadmaps for the handover.

Anh, for his part, promised to do his utmost to fulfill the mission entrusted by the Party and Government. He also presented some specific measures which will be carried out this year and the following years to tackle corruption, an issue the country has faced for years. 

Earlier, on February 8, Prime Minister Phúc signed a decision to appoint Anh as the head of the State capital management body. 

The Government issued Resolution 09/NQ-CP in early February to set up the special committee as an agency under the Government that acts as the ownership representative of State capital at wholly State-owned enterprises and at joint stock and liability companies with two or more members. 

The committee has a legal status, seal with the national emblem and an account opened at the State Treasury. 

Nguyễn Hoàng Anh holds a master’s degree in world economy and international economic relations and a bachelor’s degree in political theory. He held the post of Secretary of Cao Bằng Province Party Committee from March 2015 to December 2017 before assuming the new role in the State capital management committee. — VNS