The Exchange of experiences in State Enterprise Management

The Exchange of experiences in State Enterprise Management

On 20/11, Vice President of Commission Management State Capital (CMSC) Mr. Ho Sy Hung had a meeting with the delegation crew of National Supervisory Commission of the People's Republic of China led by Mr. Luu Tan Vi - Deputy Director of Bureau of Financial Oversight and Operational Evaluation.

Taking part in the meeting with SASAC’s delegation crew, there are representatives of General Department, Human Resource Department, Information Centre and Vice General Director of SCIC, Mr. Dinh Viet Tung.

Stating pleasure to have chance visiting and meeting with CMSC’s leaders, Mr. Luu Tan Vi stated that: SASAC went into operation since 2003; currently managing 95 state corporations with total assets of 8.000 billions RMB. Regarding the supervision method, on the base of SASAC’s instruction, enterprises have responsibility of building policies and investment plans, investment management policies, enterprise’s management structure and reporting to SASAC for direction and supervision.

Among criteria of enterprise’s direction management, SASAC approves and supervise 2 basic criteria as following: (i) proportion of subsidiary fields’ scale of asset in total enterprise’s asset and proportion of subsidiary fields’ investment in total annual investment; (ii) Criteria of supervising of debts asset’s level. Other quantitative criteria are for reference purpose to SASAC only.

Currently, SASAC focus on management of mobilized state assets at enterprises, promoting investment activities as well as actions of reforms, equitization at state enterprises and corporation.

Mr. Luu Tan Vi stated willingness that leaders of CMSC would share and exchange practical experiences in actions of state asset management at Vietnam with SASAC.

Exchanging with SASAC, China, Vice President, Mr. Ho Sy Hung stated that SASAC is a reputational organization in the sector of managing state capital at enterprises. Recently, CMSC at Vietnam gathered, selected and applied some experiences in operation and state capital management of SASAC. As sharing of Vice President Ho Sy Hung, Vietnam has focused on mindset innovation, accelerating state enterprises to operate in market mechanism.    

At the meeting, Mr Pham Tuan Anh – Director of the General Department, Mr Nguyen Ngoc Quy – Deputy Director of Human Resource Department introduced to the SASAC’s delegation crew about the overall mechanism of management, decentralized management of state ownership to state enterprises at Vietnam, organizing management at CMSC and other state enterprises and corporation under portfolio.