The “Ultra Committee” helps the Government to manage State Capital effectively

Operation activities at a manufacture of an enterprises. Source: Internet

The establishment of State Capital Management Committee at the enterprise is very necessary. Regarding this issue, Mr. Le Dang Doanh said: "This committee has been approved by Central and the establishment of the Committee will take away the advocacy group of the owners as ministries, sectors, so that the ministries will concentrate on state management and implement state management as well as develop policy equally ".

Mr. Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM), also supported the establishment of a state capital management committee at the enterprise. This is the separation of SOEs from the governing ministries. "The amount of state assets is being dispersed, too many focal points, so no one takes responsibility to explain to the Government, and the National Assembly ..." – Mr. Cung said.

According to Mr. Cung, moreover, the State properties and state-owned funds should be managed by a regulatory body, and the model should be applied by countries around the world, such as China and Indonesia.

"The establishment of a state capital management committee is good, as many clues are likely to be corrupt. We need to focus on building an elite body and ensure the requirements, transparent mechanisms and supervision of the National Assembly and the people. There shouldn’t any completion by cash payment... "- Mr. Cung said.

Agreeing with the above point, Mr. Vo Tri Thanh said that: "It's always been a conflict of interest and moral hazard. Recently, the Chairman of China's state-owned capital management committee was arrested for corruption. So whatever organizations we must also promote transparency, surveillance, competence and professionalism to minimize risk. I support this policy, as it will minimize conflicts of interest in ministries and sectors, accelerating the shrinking of the SOE sector before we can manage it, " Mr. Thanh said.

When discussing on how the commission will operate, Mr. Thanh expressed his concern: "The establishment and operation is a challenge, because there are too many difficulties. I think the State Capital Investment Corporation (SCIC) was born in the early days with the goal of reducing SOEs, but could not do so, but only managed to capitalize on them. If it could be done again, SCIC would perform better ... "- Dr. Thanh stated.

Mrs. Pham Chi Lan said: "Many people question why we have to set up a state capital management committee of 5 trillion VND, because there is no other choice in the present context. If they do not set up a committee, they will still be able to manage each one of them at the same time. However, the success and effectiveness of the policy of the Committee is to be in the management ... "- Mrs. Lan said.