More firmly when businesses refuse to transfer to SCIC

SCIC is willing to accept the remaining financial companies. Source: Internet.

More than 50% left

According to the Decision No. 1232/QĐ-TTg dated 17 August, 2017 of the Prime Minister on the list of state capital withdrawal period 2017-2020, the Prime Minister has decided to transfer to SCIC to sell State capital shares of 62 enterprises in 6 ministries and 16 localities, with total state capital of over 11,200 billion VND (accounting for 65.3% of the chartered capital of the transferred enterprises). However, from the date Decision 1232 was issued until now, SCIC has received only 27 companies, including 2017 to receive 21 enterprises, 2018 to receive 6 enterprises (including 2 enterprises under the Ministry of Agriculture and Rural Development transferred rural areas). This figure is not equal to 50%, and the number of enterprises has to make is 35.

That is at the request of the Prime Minister, and according to the object, order and time limit of transfer stipulated in the legal documents, specifically Decree 147/2017/ND-CP of the Government. Some of the articles of Decree 151/2013/ND-CP on the functions, tasks and operation mechanism of SCIC are still in existence.

According to information from SCIC, four companies have not been transferred (Ministry of Industry and Trade, Ministry of Culture, Sports and Tourism, Ministry of Construction, Ministry of Transport) and 8 provincial People's Committee (Ba Ria Vung Tau, Cao Bang , Dien Bien, Hai Phong, Phu Tho, Quang Ngai, Quang Ninh).

Analysis of the cause, Mr. Dang Quyet Tien - Director of Finance Department, Ministry of Finance said that the transfer of equitized enterprises after SCIC is slow due to concerns of the head of enterprises. They are afraid the enterprise will then conduct management under the enterprise model, to be open and transparent under the market mechanism. Meanwhile, it is not transferable, the business leaders are both the owners and management of enterprises and will not "look carefully" to assess the effectiveness attached to the responsibility of business leaders.

In addition, when establishing the State Capital Management Committee, some agencies also thought that the committee should work in order to match the position instead of SCIC. However, this has been clearly announced by the Politburo and the Government. The list of committees is 19 corporations, including SCIC.

Post-equitized enterprises should continue to hand over to SCIC to ensure unified state capital management. The Committee is the sole owner of the SCIC, SCIC will accept small businesses. It is necessary to ensure that after 2020-2021, the SOE management focal point shall be reduced in accordance with the requirement of management to separate the owner's function from the state management function.

Adherence to the market mechanism

Talking to the press on this issue, SCIC Chairman Nguyen Duc Chi stressed: "SCIC is very responsible and active in coordinating with ministries, sectors and localities. For example, with the Ministry of Industry and Trade, SCIC has worked with the company many times and also reported to the Ministry, but the results are not as expected. For example, the Textile Group or the Steel Corporation have not handed over, although the data and procedures are closed. Despite legal regulations, the strictness of enforcement is not high."

"SCIC is willing to accept even the most financially viable companies," said SCIC President. Of course, there are cases where it is unlikely that the capital will be lost, or the state capital will be negative. However, the SCIC is willing to accept existing enterprises and then cooperate with related agencies to implement solutions. Restructure or improve corporate governance to better support business". If the current enterprises actively hand over, SCIC is ready to receive delivered enterprises that are eligible for handover. SCIC is capable of handing over and managing the operation, because in fact, the current team of SCIC has managed nearly 1,000 enterprises.

The recipient is ready, and from the management, Mr. Dang Quynh Tien said: At the dialogue meeting of the Prime Minister with SOEs, the Ministry of Finance will petition the ministries, branches such as Ministry of Health, Ministry of Culture, Sports and Tourism, to have to hand over their enterprises to SCIC. For the remaining economic ministries, the proposal to reduce the task of divesting capital to ministries and branches with equitized enterprises and proposed transfer to SCIC to implement faster, more effectively, publicly and more transparent.

In fact, in 2017 and 2018, according to the list, nearly 300 enterprises have to divest but the results are still limited. In the face of the equitized enterprises, which are in the process of divesting in the 2017 list, 2018 has not yet been implemented, the Prime Minister has resolutely handed over to SCIC. The remaining financial institutions in the period of representative agencies are ministries under management boards that have not been dealt with, they must be resolutely resolved to complete successfully the handover conditions to SCIC.

According to representatives of the Ministry of Finance, it is necessary to review the list of equitized enterprises in 2019-2020. If there is a problem that ministries and branches cannot do, resolutely hand over to SCIC to follow the market mechanism and public transparency; To ensure the efficient use of state capital and take charge of the responsibility instead of ministries and branches continuing to run both state management and capital management, leading to the risk of breakdown, the blame will be difficult and unclear.

The sector continues to be in charge of both state management and capital management, leading to the risk of breakdowns, blinding of responsibility and uncertainty.