return icon

19 State-owned groups to undergo financial supervision

The Committee for Management of State Capital at Enterprises (CMSC) plans to strengthen the supersivion and management at 19 State-owned groups and corporations.



Customers at a Mobifone store in Ha Noi. Mobifone is one of 19 firms under the Commission for the Management of State Capital at Enterprises (CMSC)'s supersivion.


According to CMSC, the supervision will enhance business responsibility in compliance with regulations related to the use of capital and assets and detect shortcomings in production and business.

Under the plan, CMSC will focus on three tasks: maintenance and development of State capital, supervision over firms’ activities in projects as well as review the operations to help set targets and improve competitiveness while following laws and regulations on management and use of State capital and assets.

All the work aims to enhance financial transparency.

The 19 groups include the Viet Nam National Oil and Gas Group (PetroVietnam), Viet Nam Electricity (EVN), Viet Nam National Coal and Minerals Holding Group (Vinacomin), Viet Nam Post and Telecommunication Group (VNPT), MobiFone, Vietnam Airlines, Airport Corporation of Viet Nam (ACV), Viet Nam Railway, Viet Nam Expressway Corporation (VEC), Viet Nam National Shipping Lines (Vinalines), Viet Nam National Petroleum Group (Petrolimex), Viet Nam National Chemical Group (Vinachem), Viet Nam National Tobbacco Corporation (Vinataba), Viet Nam Rubber Group (VRG), Viet Nam National Coffee Corporation (Vinacafe), Viet Nam Forest Corporation (Vinafor), Viet Nam Northern Food Corporation (Vinafood 1), Viet Nam Southern Food Corporation (Vinafood 2) and State Capital Investment Corporation (SCIC).

These enterprises are run by five ministries. Topping the list is the State Capital Investment Corporation (SCIC) under the management of the Ministry of Finance. The remaining 18 SOEs are managed by the ministries of Industry and Trade (MoIT), Transport (MoT), Agriculture and Rural Development (MARD), and Information and Communications (MIC).

CMSC will pay special attention to the Viet Nam Electricity (EVN), who are currently losing money in a number of projects.

Of the 13 current investment projects of EVN, only two of them have started to make profit, the rest 11 have not yet shown signs of effectiveness.

PVN has asked the Government's permission on the use of State capital to handle difficulties in the loss-making projects.

Viet Nam Chemical Group (Vinachem) is also facing difficulties in its potassium rock salt processing and exploitation project in the province of Khammuane in Laos after pouring VND10 trillion into the megaproject over 15 years.

According to consolidated financial statements as of December 31, 2017, the total value of State equity in these 19 groups and corporations reached more than VND1 quadrillion (US$43 billion) and the total value of assets was VND2.3 quadrillion, accounting for 42 per cent of the country’s total GDP.

Under a 2018 decree establishing the CMSC, the committee is responsible for managing State capital in companies that are entirely owned by the State, in joint stock companies and in limited liability businesses with State investment and multiple members. — VNS

Should SOEs make outward investments?

Should SOEs make outward investments?

Experts warn that if state-owned enterprises (SOEs) make outward investments, the state would lose capital.

Most SOEs operating at a profit: audit

Most SOEs operating at a profit: audit

Most State-owned enterprises were operating at a profit but still needed to improve their operational efficiency, according to a report by the State Audit Office of Viet Nam (SAV).  

Experts doubt SOEs’ can succeed with investment projects abroad

Experts doubt SOEs’ can succeed with investment projects abroad

State-owned enterprises (SOEs) have been advised to remain cautious when making outward investments because the possibility of success is low.


Prenn Pass leading to Dalat to be closed for expansion

Vehicles will be banned from using the seven-kilometer-long Prenn Pass to travel to Dalat City as work on the pass upgrade and widening project begins on February 6.

Coach Park Hang-seo to hold event thanking fans for their support

The event will be held at Athena Room 2, Hanoi Grand Plaza Hotel, from 6pm to 8.30pm on February 2.

Hanoians queue at 3am to buy gold on the God of Wealth Day

To buy gold for luck on the God of Wealth Day (the 10th day of the lunar year - January 31), many Hanoians queued in front of gold shops on Tran Nhan Tong and Cau Giay streets from 3 am.

10,800 new enterprises established in Vietnam in January 2023

Vietnam had 10,800 newly established enterprises in January, an increase of 0.7% over the previous month and a fall of 16.6% over the same period last year.

Hai Phong hosts 700-year-old wrestling festival

As part of the Lunar New Year celebration, known locally as Tet, local people of Vinh Khe village in An Duong district of Hai Phong hold a wrestling festival on the seventh day of the first lunar month.

International visitors to Vietnam increased sharply in January 2023

International visitors to Vietnam in January 2023 reached over 871,000 arrivals, an increase of 23.2 percent compared to December 2022 and 44.2 times higher than last year.

Hanoi sees strong increase of apartment prices

Prices for apartments in Hanoi tend to increase as supply becomes short, according to the Vietnam Association of Realtors (VARS).

Tennis: Vietnam against Indonesia for Davis Cup World Group II berth

According to the Vietnam Tennis Federation (VTF), Vietnam will play Indonesia in the 2023 Davis Cup World Group II Play-offs on February 4-5 at the Hanaka Paris Ocean Park in the northern province of Bac Ninh.

Nearly 100 petrol stations shut down during Tet holiday

Nearly 100 petrol stations nationwide were closed during the Tet Lunar New Year holiday, claiming they had run out of stock and lacked employees.

Health ministry asks for strengthening COVID-19 diagnosis and treatment

The Ministry of Health has ordered local health departments to strengthen diagnosis and treatment of COVID-19 in the context of new variant emergence.

Da Lat hot air balloon festival slated for late April

Local people and tourists will have the chance to enjoy famous tourist sites throughout Da Lat city in the Central Highland province of Lam Dong from above during hot air balloon trips which will run from April 27 to May 3.

Buon Ma Thuot Coffee Festival scheduled to kick off in March

The eighth edition of the Buon Ma Thuot Coffee Festival is set to be held in the Central Highlands province of Dak Lak from March 10 to March 14, as announced on January 30 by the provincial People’s Committee.

Vietnamese workers to enjoy five-day Reunification Day holiday

As this year’s Hung Kings festival is just one day before the Reunification Day and International Workers' Day, workers in Vietnam will enjoy a rare five-day holiday.

Nguyen Phuong Hang accused of abusing freedom, democracy rights

Police have finished an investigation into Nguyen Phuong Hang for the charge of “abusing rights of freedom and democracy to infringe upon interests of the State, rights and legitimate interests of organisations and individuals”.

Majority back to work after Tet in southern industrial hubs

The majority of workers of businesses and factories in Ho Chi Minh City, Binh Duong and Dong Nai provinces, three major industrial hubs in the south, have returned to work after a long Lunar New Year (Tet) holiday, local authorities said.