Committee for State Capital Management in Enterprises

The Government resolved to dissolve the State Capital Management Committee at Enterprises. Photo: VGP

Dissolution of the State Capital Management Committee at Enterprises

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The Government has just issued Resolution No. 58/NQ-CP dated March 21, 2025 to dissolve the State Capital Management Committee at Enterprises.

Prime Minister Pham Minh Chinh speaks at the 8th meeting of the Steering Committee for Streamlining the Government's apparatus. Photo: VGP/Nhat Bac

Prime Minister directs the arrangement of 19 corporations and general companies

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The Prime Minister has directed the arrangement, transfer of rights and responsibilities of State ownership representatives for 19 corporations and general companies.

Deputy Prime Minister Ho Duc Phoc talks about the transfer of corporations and general companies. Photo: VGP

"The person who follows the job" when transferring corporations to ministries

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The transfer of management personnel of corporations and general companies according to the principle of "people follow the work" is in sync with the business transfer plan.

Corporations and general companies, including Vietnam Electricity Group (EVN), will be brought under the management of ministries and branches. Photo: EVN

Bring corporations and general companies under the management of ministries and branches before February 25

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The State Capital Management Committee will cease operations and transfer 19 corporations and general companies to the management of ministries and branches before February 25, 2025.

19 state-owned corporations and groups, including Vietnam Electricity Group (EVN), will be transferred back to the ministries. Photo: EVN

The ministries received back 19 corporations and general companies

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The rights and responsibilities of the state ownership representative for 19 state-owned corporations and groups will be transferred to the sector management ministries.

Prime Minister Pham Minh Chinh spoke about the “blue team, red team” bidding that led to many cases of officials being disciplined continuously. Photo: Pham Dong

With every bidding back and forth, many officials were disciplined continuously

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The Prime Minister cited the case of state-owned enterprises bidding back and forth, with "blue and red teams", leading to many cases of officials being continuously disciplined.

CMSC Chairman Nguyen Hoang Anh and the Committee's working delegation inspected the progress of the Long Thanh International Airport Project in May 2024. Photo: Ha Phuong

Total revenue of parent company at CMSC reached over 970,000 billion VND

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In the first 9 months of 2024, the total revenue of the parent company of 19 Groups and Corporations of CMSC reached VND 971,593 billion, equal to 83% of the yearly plan.

Vice Chairman of the National Assembly Nguyen Khac Dinh said that if state-owned enterprises ask for everything, they cannot do it. Photo: Pham Thang

Businesses have to ask for everything, which will waste opportunities

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The state does not interfere in business administration, but businesses have to ask for everything and go through procedures, which will cause them to lose time and business opportunities.