According to Decision No. 376/QD-BTC dated February 26, 2025 of the Ministry of Finance, the Department of State Enterprise Development was established with the function of advising and assisting the Minister of Finance in state management of corporate finance. At the same time, this agency is responsible for managing and using state capital in enterprises; arranging, innovating and developing state-owned enterprises; restructuring state capital in enterprises; converting public service units into enterprises; managing state budget funds to support enterprises.
The Department of State-owned Enterprise Development also exercises the rights and responsibilities of the owner's representative agency for state-owned enterprises and the state capital in enterprises owned by the Ministry of Finance. As a legal unit, the Department has its own seal and is allowed to open an account at the State Treasury in accordance with the provisions of law.
The organizational structure consists of 9 functional departments
According to the new decision, the Department of State Enterprise Development is organized into 9 departments, including:
Office
General Policy Department
State ownership representative office
Department of State-owned Enterprise Management in the field of industry and trade (Operative Department 1)
Department of State-owned Enterprise Management in the field of transportation and construction (Operative Department 2)
Department of State-owned Enterprise Management in the Agricultural and Natural Resources - Environment sector (Operative Department 3)
Department of State-owned Enterprise Management in the fields of information, communications and other services (optional Department 4)
State-owned enterprise management department in the oil and gas and petroleum sectors (Operative department 5)
State-owned Enterprise Arrangement and Innovation Department
The specific tasks of each department are prescribed by the Director of the Department of State-owned Enterprise Development.
Duties and powers
The Department of State-owned Enterprise Development is responsible for advising and submitting to the Minister of Finance to submit to competent authorities for promulgation or directly promulgating mechanisms and policies on state capital investment in enterprises; financial management for enterprises with 100% state capital; management of state capital in enterprises with state capital.
The Department is responsible for developing criteria and methods to evaluate the effectiveness of production and business activities of state-owned enterprises; supervising state capital investment activities in enterprises and financial management of enterprises with state capital.
In addition, the Department is also responsible for advising and reporting to the Minister of Finance in coordinating with ministries, branches and localities to exercise the rights and responsibilities of state capital owner representatives at enterprises. At the same time, the Department shall preside over advising the Minister of Finance to exercise the right to represent owners for state-owned enterprises and the state capital invested in enterprises.
The Department of State-owned Enterprise Development also coordinates with the Department of Organization and Personnel Management to carry out personnel management for business managers, state capital representatives and controllers at state-owned enterprises with the Ministry of Finance as the owner's representative.
The Department also has the task of advising the Minister of Finance on the management of state budget sources to support businesses and related entities according to the provisions of law. The Department also presides over the consultation and appraisal of domestic investment programs and projects of state-owned enterprises and coordinates the appraisal of foreign investment projects of state-owned enterprises as assigned by the Minister of Finance.
Decision No. 376/QD-BTC takes effect from March 1, 2025. Accordingly, Decision No. 16/QD-BTC dated January 4, 2024 on the functions, tasks, powers and organizational structure of the Department of Corporate Finance officially expired from March 1, 2025.
