PM urges better coordination in managing State capital
Prime Minister Nguyen Xuan Phuc urged better coordination between the Commission for the Management of State Capital at Enterprises (CMSC) and ministries, sectors and corporations at a review conference of the CMSC on January 16.
Prime Minister Nguyen Xuan Phuc addresses the conference (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc urged bettercoordination between the Commission for the Management of State Capital at Enterprises (CMSC) and ministries, sectors and corporations at a review conference of theCMSC on January 16.
Speaking in conclusion of the conference, the PM said the weak coordinationis a reason for the delay in performing a number of important tasks.
He noted that though starting operations for just over one year, thecommission has focused on instructing State-own groups and corporations in performingproduction and business tasks in 2019, resulting in higher revenues andprofits, and State capital kept intact and expanded.
The CMSC also received 12 loss-making projects from the Ministry ofIndustry and Trade and proposed solutions to those projects.
Regarding problems facing the commission, PM Phuc pointed to the delayin some important tasks, such as the approval of managerial positions in somegroups and corporation, equitisation and capital divestment, and approval offinancial assessment reports. Some groups and corporations failed to fulfill theirassigned targets in profit, revenue and contribution to the State budget.
In particular, the PM noted that all groups and corporations have notfulfilled the plans on development investment.
It is the responsibility of ministries, sectors and localities tocooperate with the CMSC, he said, urging the commission to report to him on ministries,sectors and localities which are not cooperative.
The PM again stressed the importance of State-owned enterprises tonational development, and the need to continue restructuring and reforming SOEsin order to keep their key role in the economy.
The commission reported that the 19 groups and corporations in which it holdsthe State capital generated combined revenues of nearly 1,500 trillion VND (64.7 billion USD) in2019, up nearly 6.4 percent from 2018. Their combined pre-tax profit came tonearly 100 trillion VND, up 28 percent from the yearly plan. The groups andcorporations contributed a total 221 trillion VND to the State budget./.
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Prime Minister Nguyen Xuan Phuc addresses the conference (Photo: VNA) 
