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MoIT asked to explain big SOE losses

Update: November, 15/2016 - 09:48
Minister and Head of Government Office Mai Tiến Dũng has asked the Ministry of Industry and Trade to explain huge losses incurred by companies and corporations under its watch, progress made in the equitisation and divestment process, and measures taken to limit environmental damage. — VNA/VNS Photo

HÀ NỘI – The Ministry of Industry and Trade (MoIT) was asked yesterday to explain huge losses incurred by companies and corporations under its watch, progress made in the equitisation and divestment process, and measures taken to limit environmental damage. 

The questions were posed during an inspection visit to the ministry by a Prime Minister-assigned working group headed by Minister and Head of Government Office Mai Tiến Dũng.

The team also conveyed PM Nguyễn Xuân Phúc’s requests for clarification and explanation of a variety of issues including its personnel structure, trade-value building and domestic retail market expansion.

Other questions were related to support provided for start-ups and strategic projects for energy development.

More time needed

Admitting that the ministry was facing challenges in implementing the Government’s policies, including those dealing with personnel appointments and planning, Minister Trần Tuấn Anh said the ministry has looked drawn many lessons and will do its best to redress problems.

Tuấn Anh also said personnel and appointment planning was a sensitive issue and relevant policies related to many ministries and sectors. So a concerted effort was needed to tackle problems.

He said the MoIT was intensifying its scrutiny of a number of projects seen as ineffective, suffering huge losses or at risk of a complete loss of the State investment capital as well as property.

He said more time was needed to address all the issues because they involved huge amounts of State capital, property, legislation and regulations. These projects were also managed by other ministries and sectors, Tuấn Anh said.

He said the MoIT would report to the Government, ask for continued reforms for more effective management of State-owned firms.

Talking about the equitisation of and divestment from State-owned enterprises, Anh said the MoIT was following the right schedule, but problems remained.

He said the MoIT was also studying the social and environmental impacts of hydropower and thermal power plants.

As part of the first steps to allay public concerns about the environmental impacts Duyên Hải 3 and Vĩnh Tân 3 thermal power plants in the provinces of Trà Vinh and Bình Thuận respectively, Anh said local residents had been invited to visit and inspect the two plants. — VNS

 

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