The Commission for the Management of State Capital at Enterprises (CMSC) reports to the Prime Minister's working team in Hà Nội. — Photo VGP

HÀ NỘI — The increasing amount of property and land under State-owned enterprises (SOEs) was mentioned as a factor in their slow equitisation.

The Commission for the Management of State Capital at Enterprises (CMSC) reported to the Prime Minister's working team in Hà Nội on Thursday to review its implementation of tasks in the equitisation of State-owned corporations.

The CMSC, also known as the super committee, was set up in October 2018 to manage the State’s total value of more than VNĐ1 quadrillion (US$43 billion) and total assets of VNĐ2.3 quadrillion in 19 groups and corporations. The Ministry of Finance last year ordered a review of land and property at SOEs’ secondary and tertiary firms.

For example, the number of properties under the Viet Nam Coal and Mineral Group has increased from about 500 to more than 1,000; while those under Petrolimex increased from about 1,000 to 2,000 establishments.

At the same time, the CMSC does not have a clear function in managing the real estate of secondary and tertiary firms.

At the meeting, Nguyễn Phú Hà, the CMSC’s deputy chairwoman, said they lacked qualified human resources in the CMSC.

Hà also mentioned the CMSC was the representative of State capital in the SOEs, however, the committee did not have rights in approving projects.

The matter, according to Hà, led to inconsistent co-operation between the CMSC and ministries, sectors and corporations.

At the meeting, leaders of SOEs also mentioned difficulties and asked for solutions from the CMSC and the PM’s working team.

According to the team’s member Nguyễn Thị Loan, it received 91 requests from the corporations including 65 to the Government and PM and 26 for the CMSC.

Concluding the meeting, Nguyễn Cao Lực, deputy chairman of the Government Office, appreciated what the CMSC has done in representing the State capital in 19 corporations. Some SOEs have overcome difficulties and made a profit and contributed to the local economy.

Lực asked the CMSC to focus on handling its tasks in managing SOEs as well as help them solve problems.

He said the team would summarise the issues of the meeting to report at the upcoming regular Government meeting.

In box: 

19 State economic groups and corporations under the management of the Committee for State Capital Management

1. State Capital Investment Corporation (SCIC)

2. Việt Nam Oil and Gas Group (PVN)

3. Việt Nam Electricity (EVN)

4. Việt Nam National Petroleum Group (Petrolimex)

5. Việt Nam National Chemical Group (VINACHEM)

6. Việt Nam Rubber Group (VRG)

7. Việt Nam National Coal-Mineral Industries Holding Corporation Limited (VINACOMIN)

8. Việt Nam Post and Telecommunications Group (VNPT)

9. Việt Nam Mobile Telecom Services One Member Limited Liability (MobiFone)

10. Việt Nam National Tobacco Corporation (VINATAB)

11. Vietnam Airlines

12. Việt Nam National Shipping Lines (VINALINES)

13. Việt Nam Railways (VNR)

14. Việt Nam Expressway Corporation (VEC)

15. Airports Corporation of Việt Nam (ACV)

16. Việt Nam National Coffee Corporation (VINACAFE)

17. Việt Nam Southern Food Corporation (VINAFOOD 2)

18. Việt Nam Northern Food Corporation (VINAFOOD 1)

19. Việt Nam Forest Corporation (VINAFOR) — VNS