Prime Minister Nguyen Xuan Phuc signed a decision on Thursday to appoint Nguyen Hoang Anh to the post of chairman of the special committee to manage State capital at enterprises.

Anh is a former Secretary of Cao Bang Province Party Committee.

The Government issued Resolution 09/NQ-CP last Saturday to set up the special committee as an agency under the Government Government that acts as the ownership representative of State capital at wholly State-owned enterprises and at joint stock and liability companies with two or more members.

The committee has a legal status, seal with the national emblem and an account opened at the State Treasury.

Nguyen Hoang Anh was born in 1963 in Hai Phong City’s An Lao District. He holds a master’s degree in world economy and international economic relations and a bachelor’s degree in political theory.

He held the post of Secretary of Cao Bang Province Party Committee from March 2015 to December 2017 before assuming the new role in the State capital management committee.

Deputy Minister of Planning and Investment Nguyen The Phuong said the decree about the functions, tasks, rights and organisation of the committee was planned to be issued in the second quarter of this year.

Phuong said the model of the committee would be different from the State Capital Investment Corporation (SCIC). SCIC will be one among 30 State-owned enterprises to be put under the management of the committee.

State-owned enterprises (SOEs) in the country have total capital and assets worth an estimated VND5.4 quadrillion (US$239 billion).

Deputy Prime Minister Vuong Dinh Hue, who headed a working group founded in mid-January with 11 members to boost the formation of the committee, recently asked relevant ministries to report about the operation of SOEs, which were planned to be put under the management of the committee, in February.

The committee is expected to separate ownership from management functions to boost the efficiency of State capital when the Government hastens the restructuring of SOEs. — VNS