Directive No. 03/CT-TTg dated January 17, 2012 of the Prime Minister on stepping up the restructuring of State enterprises
In the past ten years, the renewal of state enterprises has received constant attention and direction by the Government and the Prime Minister and achieved important results.
Comprehensive institutions and mechanisms on management and transformation of state enterprises have been adopted. State enterprises have numbered down while those in important sectors have increased their capital and operated more effectively, basically fulfilling their core role of the state economy and serving as a material instrument for the State to orientate and regulate the macro-economy, ensure social security, accelerate economic growth and lay foundations for national industrialization and modernization.
However, there remain many state enterprises operating in the sectors which the State needs not to hold. State-run economic groups and corporations have not yet concentrated on their main production and business lines. The production and business efficiency and competitiveness of state enterprises have not been commensurate to their assigned resources; their business administration has failed to meet development requirements under the market mechanism. The state management and the performance of the rights and obligations of the state-owners over state enterprises remain weak.
In furtherance of the resolutions of the Party, the National Assembly and the Government, the task set for the 2011-2015 period is to restructure state enterprises with a more rational structure and higher efficiency and competitiveness so that they properly fulfill their role and assigned tasks, the Prime Minister directs ministries, ministerial-level agencies, government- attached agencies, provincial-level People’s Committees, state-run economic groups and corporations to properly perform the following tasks:
1. To complete synchronous mechanisms and policies on state enterprises; at the same time, to create a legal framework more favorable for the renewal of the operation, management, restructuring and ownership transformation of state enterprises; in the first quarter of 2012, ministries shall submit to the Prime Minister for promulgation or promulgate according to their respective jurisdiction:
a/ For the Ministry of Finance:
- Regulations on the management of finance, investment and dealing in state capital at state enterprises.
- Regulations on financial management and supervision at single-member limited liability companies with the State acting as their owner and on management of state capital invested in other enterprises.
- Criteria and guidelines for state enterprises to correctly and objectively evaluate their operation effectiveness, clarify mechanisms and policy tasks (if any) affecting their overall performance.
- A mechanism for management of equitized enterprises still having state capital..........
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