Progress of 19 groups and corporations after 5 years of "super committee"

	Vietnam to benefit from large corporations’ capital relocations
	PM asks state-run groups, corporations to contribute to building self-reliant economy
	Vietnam has become a strategic destination in the supply chains of many large corporations

Prime Minister Pham Minh Chinh and leaders of the State Capital Management Committee at Enterprises visited and inspected the operations of Ninh Binh Fertilizer Factory in August 2022.

Annual production and business targets have increased

According to information from the Committee for Management of State Capital at Enterprises, after officially coming into operation on September 29, 2018 and receiving the transfer of 19 state-owned corporations and corporations from 5 ministries, up to now, The operating results of 19 groups and corporations developed continuously and stably, completing the annual plan.

Compared to 2018 (the time of transfer to the Committee), according to the financial reports of groups and corporations, by the end of 2022, total consolidated equity increased from 1,055 million billion VND to 1,154 million billion dong; Total consolidated assets increased from 2,360 million billion VND to 2,491 million billion VND. Basically, the production and business targets achieved every year have increased.

The consolidated production and business results of 19 groups and corporations in the first 8 months of 2023 are estimated to reach a total revenue of nearly 1,137 million billion VND, equal to 71% of the yearly plan and 102% over the same period; Total profit before tax reached more than 27 trillion VND, equal to 72% of the year's plan and 133% over the same period last year; Total state budget contributions reached over 129.4 trillion VND.

To date, the Committee has reported, proposed and received approval from competent authorities to handle 8/12 slow and ineffective projects, assigning businesses responsibility for implementation.

For the remaining 4 slow-moving and ineffective projects, the Committee has submitted to the Prime Minister 3 solutions (Dung Quat Shipbuilding Industry One Member LLC Project - DQS submitted on December 28, 2019). August 2023; Phase 2 production expansion project of Thai Nguyen Iron and Steel Factory - Tisco 2 and Iron ore mining project at Quy Xa mine, Lao Cai Iron and Steel Factory and Viet Minerals and Metallurgy Company Limited Trung - VTM submitted on September 15, 2023).

Vinh Tan 4 Thermal Power Plant.

In the process of production, business and investment development activities, 19 groups and corporations under the Committee have clearly demonstrated their position and core role in ensuring major balances of the economy, contributing macroeconomic stability in many important economic sectors and fields of the country.

By 2023, it is estimated that in terms of domestic market share, corporations and corporations under the Commission will contribute about 48% of electricity, 50% of retail gasoline, 100% of dry gas, 70% of liquefied petroleum gas, 70% fertilizer; Regarding the volume of goods and services, corporations and corporations have provided the economy with 242.7 billion kWh of electricity, 10.84 million tons of crude oil, 8.08 billion m3 of gas, 42.2 million tons of clean coal, 13.76 million m3 of petroleum, 5.78 million tons of Alumina, 1.8 million tons of urea, 30 thousand tons of copper sheets, 4.8 million tons of fertilizer, 41.6 million seedlings...

In the field of management and exploitation of traffic infrastructure and transportation and logistics (aviation, railway, maritime), by 2023, estimates of market share, corporations and corporations under the Commission The board accounts for about 49% of domestic air passenger transport, manages 21/22 civil airports across the country, 16% of sea transport goods, 100% of railway traffic management and transport, 45% mobile subscribers, 41% fixed terrestrial broadband; In terms of transportation, it reached 126 million passengers and 114.5 million tons of goods.

Also according to the Committee for Management of State Capital at Enterprises, in the period 2018-2023, the Committee has actively directed and accompanied corporations and corporations to implement development investment plans with a total value of Investment is estimated at nearly 770 billion VND.

Many large and important projects have been implemented as key projects in the energy sector: Vinh Tan 4 Thermal Power Plant expansion; Bac Ai pumped storage hydropower plant, 500kV power grid projects of Vinh Tan, Song Hau - Duc Hoa, Long Phu - O Mon; Complete investment and operate at high capacity Thai Binh 2 Thermal Power Plant from April 27, 2023.

In the field of transport infrastructure, we have focused on accelerating the construction progress of Long Thanh International Airport; Terminal T3 construction project of Tan Son Nhat International Airport; passenger terminal expansion project T2 - Noi Bai International Airport; Ben Luc - Long Thanh expressway project; Da Nang - Quang Ngai expressway project...

In addition to their role as a core force regulating the economy, in the past 5 years, corporations and corporations have contributed significantly to the implementation of the state's labor and employment policies, ensuring social security…

Actively coordinate and support businesses to operate effectively

Mr. Ho Sy Hung, Vice Chairman of the Committee for Management of State Capital at Enterprises, said that after 5 years of operation, the Committee has basically fully implemented the functions, tasks, powers and responsibilities of the owner's representative for 19 groups and corporations. 19 corporations and corporations grew well and were economically and socially effective, thereby showing that the separation of owner representative functions and state management functions is appropriate.

In the context of forecasting that the international and domestic situation in the coming years will continue to have many complex and risky factors, the Committee for Management of State Capital at Enterprises believes that the tasks of the Committee and corporations, The corporation is very heavy and has important significance in implementing the strategies of the Party and State.

Therefore, the Committee and corporations will continue to carry out assigned tasks.

In particular, according to Mr. Ho Sy Hung, the Committee will continue to perfect the Committee model; assign more appropriate functions, tasks, powers and responsibilities to the Committee. At the same time, strengthen and create initiative for businesses and representatives of state capital in businesses and actively coordinate and support businesses to operate effectively; in principle, it does not interfere with production, business and investment activities of enterprises.

The basic, long-term solution is to coordinate with the Ministry of Finance to research and amend regulations of the Law on Management and Use of State Capital Investment in Production and Business at Enterprises (Law No. 69/2014/QH13) serve as a legal basis to promote assignment and decentralization to the member councils and representatives of state capital at corporations and corporations whose owners are represented by the Committee; Resolve a number of difficulties and obstacles for the operations of businesses and the Committee...