【BET88】 Link vào BET88 Đăng Ký & Đăng Nhập

Link BET88 Đăng Ký & Đăng Nhập

    • NA session: SOEs’ efficiency not match resources

    The operation efficiency of State-owned enterprises (SOEs) during 2011-2016 had yet to match the resources they were holding, according to a report delivered to the National Assembly on May 28.
    NA session: SOEs’ efficiency not match resources ảnh 1Overview of the session (Source: VNA)

    Hanoi (VNA) – The operation efficiency of State-owned enterprises(SOEs) during 2011-2016 had yet to match the resources they were holding,according to a report delivered to the National Assembly on May 28.

    The report, compiled by the NA specialised team to supervisethe management and use of state capital and assets in enterprises and SOEsequitisation during 2011-2016, said as of December 31, 2016, the nation had 583enterprises fully owned by the State.

    Most enterprises posted profit and the profit increased yearafter year. They basically fulfilled their role as an important force of theeconomy, contributing to regulating and stabilising the macro-economy.

    Their combined revenues reached 1.5 quadrillion VND (66billion USD) in 2016, and pre-tax profits were nearly 140 trillion VND (6.1billion USD). Several enterprises reported high profits such as Viettel Group,Vietnam Rubber Group and Vietnam Sugarcane and Sugar Corporation.

    For enterprises partly owned by the State, 26.2 trillion VND(1.1 billion USD) of State stake was sold, earning over 36.5 trillion VND (1.6billion USD) for the State coffer during 2011-2015.

    However, the supervision team said despite high growth in totalassets and capital, increases in revenues, pre-tax profits and contributions tothe State budget were slow at an average of 3 percent a year. Meanwhile, totaldebts remained high, rising 26 percent against 2011.

    A number of SOEs occurred losses, while corruption and wastefulnesswere seen in some giants such as the Vietnam National Oil and Gas Group, the VietnamNational Chemical Group, the Electricity of Vietnam, and the Vietnam NationalCoal and Mineral Industries Group.

    In addition, the restructuring of badly-performingbusinesses and the withdrawal of State capital from ineffective investmentprojects remained slow. Notably, several violations in the implementation ofpolicies and laws on the management and use of state capital and assets in enterprisesleft serious consequences, including the punishment of a number of involvedofficials.

    In terms of SOE equitisation, the supervision team said thatthe work produced positive results. During 2011-2016, a total of 571 businesseswere privatised. Social capital was mobilised to invest in these businesses,thus contributing to changing the administration mode, creating motivation fordevelopment and increasing the efficiency of production and business.

    However, the supervision team noted that some agencies andunits failed to meet requirements and progress of equitisation. The proportionof State stake in joint stock companies remained high. The number of sharessold at initial public offerings (IPO) was lower than the plan, which hinderedthe realization of the goal to attract capital from outside and renovatecorporate governance.

    The equitisation process faced many difficulties related toland, while the implementation of policies and laws on SOE equitisation sawseveral violations related to businesses’ finance and the evaluation ofbusiness value.

    The report of the supervision team also pointed to reasonsfor shortcomings in the management and use of State capital and assets inenterprises and SOE equitisation work.

    It noted that along with the target of profits, SOEs had toimplement political and social welfare tasks in the context of instability indomestic, regional and international economies, thus affecting their growthrate, revenues and profits. The policy and law framework on the management anduse of State capital and assets in enterprises and SOE equitisation work stillhad many limitations.

    In addition, agencies representing the State stake inenterprises have not performed well the supervision and inspection work.

    To increase the efficiency of the implementation of laws andpolicies, the supervision team proposed the legislative body consider therevision of related laws to address shortcomings in current regulations.

    The NA, NA Standing Committee, NA agencies, delegations ofdeputies and deputies should intensify supervision over the management and useof state capital and assets in enterprises and SOE equitisation.

    Meanwhile, the Government should review the implementationof laws on the matter and proposed to the NA on revising or supplementingrelated laws. The Government should also complete regulations on selection,appointment and supervision of the management of enterprises and land afterequitisation, while directing the strict punishment of violations related tothe management and use of state capital and assets in enterprises and SOEequitisation.

    The Government also need keep a close watch on themobilisation and use of capital of businesses, and allow the bankruptcy of SOEsas regulated by law.

    The report stressed that the State budget should not be usedto rescue businesses in loss.

    The supervision team suggested ministries, sectors andlocalities to complete and approve land use plans. It also asked SOEs tocontinue renovating business administration , focus on main businessactivities, and build a roadmap on recovering State investment in otherenterprises in a transparent manner and ensure the State’s interest.-VNA
    VNA

    Related News

    A NA supervision team had a working session with Government representatives on draft Report and Resolution on the supervision of management and use of State-owned capital and assets at enterprises.

    The Government raised more than 1.39 trillion VND (61.5 million USD) by divesting its stake in State-owned enterprises (SOEs) in the first quarter of this year, according to the Ministry of Finance.

    Lawmakers continued reviewing the implementation of the socio-economic development and state budget plans for 2017 during the National Assembly’s May 26 plenary sitting, chaired by NA Chairwoman Nguyen Thi Kim Ngan.

    Lawmakers will focus their attention on the implementation of policies and laws on the management and use of State capital and asset in enterprises and the equitisation of SOEs during 2011-2016 on May 28.

    The visits also took place at a time when the Philippines is serving as ASEAN Chair in 2026, Singapore is preparing to assume the ASEAN Chairmanship in 2027, and Vietnam is set to host the APEC Economic Leaders’ Meeting in 2027.

    The intellectual journey from Duong Kach Menh in 1927 to the strategic vision outlined by the Party at its 14th National Congress demonstrates a rich process of creatively applying and developing Marxism-Leninism in Vietnam’s specific conditions.

    The two sides shared the view that both sides should strengthen cooperation to translate high-level common understandings into practical outcomes. Cooperation, they agreed, should focus on two key pillars: theory research and the training and capacity building of officials.

    Participants reviewed rental housing demand in each area, considering different market segments and target groups. They also examined the gap between supply and demand, and pinpointed issues in policy frameworks.

    PM Le Minh Hung stressed that Hai Phong should become a national pioneer in implementing a new growth model driven by science – technology, innovation and digital transformation.

    General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam, his spouse, and a high-ranking Vietnamese delegation left Manila on June 1, concluding their two-day state visit to the Philippines at the invitation of Philippine President Ferdinand Romualdez Marcos Jr. and his spouse.

    The Vietnamese leader urged the two sides to further promote two-way investment in highly complementary and long-term value-adding sectors, such as modern agriculture, food processing, clean energy, logistics, supporting industries, digital economy, and innovation.

    The following is a brief review of the day’s events as reported by the Vietnam News Agency.

    Party General Secretary and State President To Lam reaffirmed and emphasised the central role played by ASEAN, stating clearly that Vietnam regards ASEAN as the most important strategic space, and that the Asia-Pacific regional security architecture should be led by ASEAN rather than becoming an arena for rivalry among major powers.

    Vietnam’s presence at the 23rd Shangri-la Dialogue met the international community’s expectations for balanced, constructive and bridge-building contributions from a country that consistently pursues a non-aligned foreign policy.

    Vietnam always values and wishes to further deepen its friendly neighbourly relations with the Philippines in all areas on the basis of a shared commitment to peace, stability and respect for international law, affirmed General Secretary of the Communist Party of Vietnam (CPV) Central Committee and State President To Lam.

    Vietnam, Philippines issue Joint Statement on Enhanced Strategic Partnership

    Based on the good friendship and the interests and aspirations of the people of both countries, the two sides agreed to elevate the Vietnam-Philippines bilateral relationship to an Enhanced Strategic Partnership.

    Vietnam called for an open, inclusive regional architecture with ASEAN at its core, insisting that all new initiatives be transparent, respect international law, complement one another, and avoid undermining ASEAN centrality or turning Southeast Asia into an arena for great power rivalry. It expressed full support for and readiness to cooperate with the Philippines - ASEAN Chair 2026.

    Vietnam has an opportunity to further entrench its leadership position within ASEAN, collaborate with like-minded partners, and demonstrate that Hanoi is, and will continue to be, a friend, a reliable partner, and an active and responsible member of the international community, said Professor Carl Thayer from the Australian Defence Force Academy at the University of New South Wales.

    The trip marks the Vietnamese leader’s first visit to the Philippines as Party General Secretary and State President. It takes place as the two countries are preparing to celebrate the 50th anniversary of diplomatic relations and as the Philippines assumes the ASEAN Chairmanship in 2026.

    The Rizal Monument is one of the Philippines’ most significant historical landmarks. Located in the capital city of Manila, it was erected in honour of Dr. Jose Rizal, a physician, writer, and national hero who played a pivotal role in the country's struggle for independence.

    The keynote address delivered by General Secretary of the Communist Party of Vietnam (CPV) Central Committee and State President To Lam at the 23rd Shangri-La Dialogue conveyed a powerful message highlighting the integration of proactive diplomacy with a comprehensive vision for national development.

    The following is a list of selected news summaries reported last weekend by the Vietnam News Agency.

    Talking to President of the Asian Development Bank (ADB) Masato Kanda, General Secretary and President To Lam affirmed that Vietnam attaches importance to ​​its cooperation with the bank and wishes to further deepen this partnership in the new development phase.