State SoE committee moves online

This information was released by the Chairman of the State Capital Management Committee (SCMC) Nguyen Hoang Anh at the seminar held in the northern province of Quang Ninh on December 14 on applying Industry 4.0 technology to assess SoEs’ business, production and financial performance.

The online management system will connect all 19 SoEs so the SCMC can be regularly updated on capital, production, labour productivity, commodity output and input as well as changes in personnel and tax payments.

Anh asked SoEs to co-ordinate with the committee and inform it of any problems quickly to get direction and support.

“Enterprises must implement the electronic connection with the committee to ensure accurate, complete and fast information in order to minimise costs and improve the effectiveness of supervision and direction according to the tasks assigned by the Government and the Prime Minister,” said Anh.

In 2019, the committee would supplement inpidual indicators for each area, ensuring continuous updates on the enterprises’ operations, Anh said.

Ngo Dien Hy, the General Director of the Vietnam Posts and Telecommunications Group’s Information Technology Company, said that if corporations would not go in the direction of digital technology, Vietnam would be left behind by other countries in the region and the world.

“The Fourth Industrial Revolution will not stop, and any hesitation can be an error that holds us back in the marketplace,” said Hy.

Also at the seminar, representatives from large corporations such as FPT and Viettel shared ideas on the development orientation of information technology in the supervision of State capital investments.

The SCMC was set up under the Government’s Resolution No 09/NQ-CP and has been in operation since October 1 this year. It manages State capital ownership in SoEs.

This is a major task because the 19 SoEs are all large and are core businesses of the economy, with total assets of more than VND2.3 quadrillion (US$99 billion), equaling nearly 42% of the country’s GDP, of which the ownership capital accounted for nearly 50%.

Anh said the committee was determined to promote the application of information technology, and it had begun to build a set of indicators and software to monitor and evaluate the status of the SoEs.

The committee is currently testing the connection between indicators and businesses. This system will minimise the time required to prepare, submit and aggregate reports thanks to the specialised software for data analysis and processing.

Businesses and people can access the software package at https://kpi.cmsc.gov.vn.