Overcoming shortcomings, limitations, and "bottlenecks"
The Ministry of Finance said that, as originally planned, the Law replacing the Law on Management and Use of State Capital Invested in Production and Business at Enterprises (Law No. 68/2025/QH15) would take effect from January 1, 2026. However, in the spirit of promptly removing difficulties and obstacles, maximizing the existing resources of SOEs to serve the target of 8% development in 2025, creating momentum for double-digit growth in the following years, the Government agreed and directed the Ministry of Finance to submit to the National Assembly to accelerate the implementation of the Law from August 1, 2025.
Therefore, to implement Law No. 68/2025/QH15, the Ministry of Finance has reported to the Government leaders a list of documents detailing the implementation of the Law, including 5 Government Decrees. According to the Ministry of Finance, in order to promptly issue Government Decrees that take effect at the same time as the Law, the Government leaders have allowed the application of simplified procedures in the development and promulgation of Decrees detailing the Law.
The Ministry of Finance leader said that the draft Decree has fully institutionalized the viewpoints and policies of the Party and the State on innovation, restructuring and development of state-owned enterprises and enterprises with state capital; overcoming the shortcomings, limitations and "bottlenecks" in the recent past. Specifically, the draft inherits the relevant regulations on equitization of enterprises, and at the same time amends and supplements a number of contents on land use plans after equitization, requiring equitized enterprises to register for transactions on the Stock Exchange to comply with regulations on management and use of public assets, regulations of the Securities Law, etc.
The draft Decree basically inherits the current regulations on converting enterprises with 100% state capital into limited liability companies with two or more members, on transferring state capital invested in joint stock companies, limited liability companies with two or more members, on transferring the right to represent the ownership of state capital in enterprises, on merging, consolidating, dividing, separating, and dissolving enterprises. At the same time, it provides specific guidance on dissolving agricultural and forestry companies with 100% state capital according to the regulations on financial handling like other enterprises, then determining the remaining funds to request support from the state budget.
In addition, the draft Decree adds provisions on determining the value created by the annual land use right lease in the starting price; Adds provisions on the transfer of investment projects, capital, and assets between enterprises; transfer of share purchase rights, preemptive rights to purchase shares, and rights to purchase capital contributions as a basis for implementation.
Enterprises are proactive in using capital sources.
According to the representative of the State Enterprise Development Department (Ministry of Finance), the draft Decree on State capital management and investment has clearly stipulated the contents related to investment, management and profit distribution. Specifically, the draft Decree simplifies administrative procedures in cases where a proposal for investment policy decision must be made. In cases under the authority of the owner's representative agency, it is not necessary to make a proposal for investment policy decision. In cases under the authority of the Board of Members (BOD) or the Chairman of the company, the Board of Members or the Chairman of the Company shall issue the procedures for deciding on the investment of the enterprise.
The leader of the Ministry of Finance affirmed that, with the above provisions, the draft Decree has stipulated the decentralization of authority to decide on state capital investment in enterprises, ensuring that the use of internal capital sources of enterprises will be decentralized to the Board of Directors or the Chairman, the representative of state capital in the enterprise.
In addition, SOEs are also given increased autonomy when they are given the right to issue annual development strategies and business plans. Previously, annual development strategies and business plans were issued by the owner's representative agency. However, the draft Decree has given this initiative to enterprises, allowing them to issue 5-year and 10-year development strategies and annual business plans, thereby removing obstacles related to delays in issuing development strategies that may affect business operations. The owner's representative agency or state owner will focus on managing key indicators such as revenue, profit and return on capital.
Source: https://baolaocai.vn/doanh-nghiep-nha-nuoc-duoc-trao-them-nhieu-quyen-tu-chu-post648972.html
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