Establish Steering Committee to handle loss-making projects “trillion” of industry and trade sector

Ninh Binh Fertilizer Plant project is invested by Ninh Binh Nitrogenous Fertilizer ltd. Co (Vietnam National Chemical Group). Source: Internet

Accordingly, the Deputy Prime Minister Vuong Dinh Hue as the Head of the Steering Committee. Deputy Heads are: Minister of Industry and Trade Tran Tuan Anh (Permanent Deputy Chief of Committee); Minister of Finance Dinh Tien Dung.

The Commissioners include a Deputy Minister or equivalent level of ministries and agencies: the Ministry of Industry and Trade; Ministry of Planning and Investment; Ministry of Finance; Ministry of Justice; The Ministry of Construction; Ministry of Natural Resources and Environment; Ministry of Public Security; Science and Technology; Government Inspectorate; State Bank; Office of the Government; Innovation Steering Committee, reorganize State enterprises; invited a deputy director of the Central Economic Committee to join the Steering Committee; invite a Vice Chairman of the Economic Committee of the National Assembly participated in the Steering Committee; invite a Deputy State Auditor join the Steering Committee.

The Steering Committee is responsible for directing the Ministry of Industry and Trade, the Corporation and related entities to carry out specific requirements and solutions that have been directed by the Prime Minister in the relevant documents to handle problems and difficulties; evaluate the production capacity of domestic enterprises, as well as the import and sale of products related to each project in order to propose specific solutions for each project, researchers manipulate the rules flexible provisions in trade agreements that Vietnam has acceded to best protect the domestic market, in line with international commitments; review and renewal of the corporate governance and control production costs into product prices; negotiations with partners on plans for investment and transfer projects.

Besides that, continue to direct the Ministries, the Corporation, the Corporation assessed carefully and thoroughly whole project from the policy to the implementation of investment and operation of the project, especially in technology for considering the uniformity of technology, using equipment, staff for project management, quality contractors; take measures for solving all contractors projects behind schedule and commitment; check the conformity of the capital increase at each stage of each project, identify the causes, proposed solutions and recommendations dealing with violations.

At the same time, propose to the Prime Minister on inspection, audit, investigating works to clarify the current situation, the financial situation of enterprises and projects as a basis to build the restructuring plan, specific treatment for each project, business and clarify mistakes and responsibilities of organizations and individuals related to treatment as prescribed by law.