Prime Minister Nguyen Xuan Phuc on July 17 asked the Commission for the Management of State Capital at Enterprises (CMSC) to take more flexible approach to dealing with corporate issues in line with the law.

Put into operation on September 30, the CMSC has become the State capital representative for 19 State-owned enterprises (SOEs) and corporations with a total of of 2.3 quadrillion VND (98.9 billion USD).  

During a working session in Hanoi, the PM lauded the commission for receiving 237 tasks from ministries and completing 97 others, helping SOEs resume stable operations with revenue up 15 percent, before-tax profit up 12 percent, and contribution to the State budget up 31.4 percent. 

He also order the CMSC to continue refining mechanisms and working closely with ministries and agencies to fulfill assigned tasks. 

The CMSC was asked to strengthen management to improve the efficiency of SOEs operations, including building modern State governance models and improving their competitiveness. 

As for SOEs, the leader urged them to adopt modern technology in strategic areas and prevent wastefulness in State equitisation and divestment. 

About overlapping decrees and laws, he assigned the Ministry of Planning and Investment to make a report to submit to the Government during its July meeting for consideration. 

Relevant ministries must improve their sense of responsibility for assessing several projects, and promptly approve SOEs’ business plans in July as well as restructuring plans. 

At the working session, the PM also offered his opinions about CMSC’s suggestions, including reshuffling its operations and personnel. He also allowed the commission to work with ministries, agencies and corporations to employ experienced and qualified officials.