Vietnam takes first steps towards establishing super committee
The government on February 3 released Resolution No 09, officially marking the establishment of a super committee in charge of managing state capital in enterprises.
The super committee is an organ of the government, acting as the representative of the state as the owner of 100% state invested enterprises and as capital contributor in joint stock and limited companies.
According to Pham Chi Lan, a renowned economist, the biggest problem for the super committee is that it will manage huge capital and control a high number of enterprises which operate in many business fields.
The list of enterprises to be put under control of the super committee includes economic groups, general corporations and the State Capital Investment Corporation (SCIC) as well.
Only the military conglomerate Viettel will be excluded from the list. As such, the total amount of state capital the super committee will take responsibility for will be extremely huge.
Among the business fields that the super committee plans to put under its control, there are fields which still need the state’s long-term control and fields where the competition is cutthroat.
State owned enterprises have been operating ineffectively for a long time. So, it will be a difficult task for the super committee to run the enterprises in an optimal way.
Lan pointed out there could be protest from people who lose their benefits because of the super committee, or those who don’t like instructions from the super committee. If so, how will the super committee be able to control enterprises?
Phan Minh Ngoc, a renowned analyst, in his article on Thoi Bao Kinh Te Sai Gon, raised a question about the operation model for the super committee.
There are two models for Vietnam’s reference, either one like Temasek in Singapore, or SASAC in China (State-owned Assets Supervision and Administration Commission of the State Council).
Ngoc believes that the former is not suited to Vietnam, while the latter has many problems.
Concern has also been raised about the overlapping duties of the super committee and SCIC, though SCIC’s general director Nguyen Duc Chi affirmed the problems would not exist.
The enterprises to be put under the super committee’s management may include the big corporations such as Petrolimex, the biggest petroleum distributor; Vinachem, the largest chemicals manufacturer; Electricity of Vietnam (EVN); the national oil & gas group PetroVietnam; the Vietnam Rubber Group; the largest coal miner Vinacomin; and MobiFone, the most powerful mobile network operator.
Related News
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
Latest News
Dien Bien Phu Victory shows strength of intelligence, public consensus: Officer
15:37 | 06/05/2024 Headlines
Vietnam acts to seize opportunity to join global semiconductor supply
15:33 | 06/05/2024 Headlines
Vietnam improving readiness to attract foreign investment: official
16:30 | 05/05/2024 Headlines
Green logistics helps firms obtain sustainable, comprehensive development: Insiders
16:29 | 05/05/2024 Headlines
More News
Việt Nam has many opportunities to improve labour productivity: expert
15:14 | 04/05/2024 Headlines
PM presides over Government’s regular meeting
15:06 | 04/05/2024 Headlines
Ample room for Việt Nam-Thailand cooperation in new economic sectors: official
14:50 | 03/05/2024 Headlines
Exports, FDI remain Vietnam’s bright spots: HSBC
17:16 | 02/05/2024 Headlines
Growth engines rev up in first four months
17:12 | 02/05/2024 Headlines
Vietnam fulfills Chairmanship of Asia Pacific Group at UN for April
19:38 | 01/05/2024 Headlines
Startups gradually mature in international markets
08:22 | 01/05/2024 Headlines
Việt Nam to promote local tourism
13:37 | 30/04/2024 Headlines
April 30 Victory – Glorious milestone in national history
13:34 | 30/04/2024 Headlines
Your care
Dien Bien Phu Victory shows strength of intelligence, public consensus: Officer
15:37 | 06/05/2024 Headlines
Vietnam acts to seize opportunity to join global semiconductor supply
15:33 | 06/05/2024 Headlines
Vietnam improving readiness to attract foreign investment: official
16:30 | 05/05/2024 Headlines
Green logistics helps firms obtain sustainable, comprehensive development: Insiders
16:29 | 05/05/2024 Headlines
Việt Nam has many opportunities to improve labour productivity: expert
15:14 | 04/05/2024 Headlines