VietNamNet Bridge - The list of state-owned economic groups and general corporations put under control of the State Capital Management Committee, called the ‘super committee’, shows that the government wants control in some key business fields – energy, natural resources, infrastructure and agricultural land.


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A super committee will be established in 2018




Under the action plan to implement a resolution on SOE (state owned enterprises) restructuring, a super committee in charge of managing the state’s capital in enterprises will be established in 2018. 

This committee is a specialized agency acting as the representative of the State as the owner of SOEs and capital contributors to enterprises. The capital and assets of the "super committees" amount to more thousands of trillion of dong.

It is expected that 22 state-owned economic groups and general corporations operating in the fields of energy, transport, agriculture and food will be put under control of the super committee. 

They belong to five ministries, including Industry & Trade (MOIT), Transport (MOT), Agriculture & Rural Development (MARD), Finance (MOF) and Information & Communication (MIC).

Most of the names in the list are enterprises belonging to MOIT and MOT, comprising  six groups and six general corporations.

Fifteen names in the list are enterprises where the state still holds a 100 percent stake. These include EVN (the Electricity of Vietnam) and PetroVietnam, the two largest state-owned conglomerates in terms of stockholder equity (VND431 trillion and VND205 trillion, respectively, according to the 2016 audited reports) and total assets (VND770 trillion and VND692 trillion).

This committee is a specialized agency acting as the representative of the State as the owner of SOEs and capital contributors to enterprises. The capital and assets of the "super committees" amount to thousands of trillion of dong.

Some conglomerates in the list are undergoing equitization, namely Petrolimex (petroleum distributor), ACV (airport management), VRG (rubber), Vinafor (forestry) and Vinafood 2 (food).

The super committee will also put the State Capital Investment Corporation (SCIC), the ‘super enterprise’ that is managing the huge state’s capital in equitized SOEs, under its management. 

A lawyer said that the list of enterprises to be put under the super-committee’s control shows the government’s determination to keep strict control over some key business fields of the national economy. The SOEs in the fields of manufacturing and real estate are not on the list.

Four energy conglomerates on the list are EVN, Petrolimex, PetroVietnam and Vinacomin, a coal miner. 

The electricity demand in Vietnam is predicted to increase by 10-12 percent per annum. Meanwhile, the demand for petroleum products, according to McKenzie, would grow by 5.6 percent in 2015-2025.

The World Bank applauded Vietnam’s idea of setting up a super committee to supervise assets owned by SOEs, but it said the success of the idea will depend on the structure of the committee and the action plan of the government and relevant agencies.


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Thanh Lich