Optimize management and profit distribution to increase state capital efficiency

Vice Chairman of the National Assembly Nguyen Duc Hai chaired the meeting.

Mobilizing and lending capital to increase initiative

The draft Law on Management and Investment of State Capital in Enterprises was developed to institutionalize the Party's policies, especially the Resolution on the development of science and technology, innovation, and national digital transformation, while also addressing shortcomings in state capital management. Delegate Nguyen Thi Thu Ha, Quang Ninh delegation, said she supported option 1 in Clause 3, Article 18, allowing enterprises to decide to lend capital to subsidiaries holding more than 50% of charter capital, with the value of a single loan not exceeding 50% of equity, and the total value of the loan not exceeding the actual contributed capital. She proposed adding regulations allowing enterprises to proactively decide on capital sources and lending interest rates, without requiring additional business lines or applying for licenses like credit institutions, in order to take advantage of idle capital, supporting subsidiaries at reasonable costs thanks to the good credit ratio of the parent company.

Delegate Le Thi Thanh Lam, Hau Giang delegation, said that the regulation on salary, remuneration, and bonuses calculated from after-tax profits in Clause 2, Article 32 is not appropriate, because these are reasonable expenses according to the Law on Corporate Income Tax. She proposed to include these expenses in reasonable expenses, applicable to employees, representatives, and controllers working directly at the enterprise, to ensure market principles, avoid budget burden when the enterprise makes a loss, and pay promptly, not depending on annual settlement.

Delegate Nguyen Cong Van, from Binh Phuoc, said that Clause 2, Article 29 on investment in subsidiaries should use the concept of “over 50% equity” or “under 50% equity” for clarity. He proposed adding a mechanism allowing enterprises to use profits to invest in strategic areas, such as high technology, to increase long-term development resources and ensure effective capital management.

Profit distribution and property rights protection

Delegate Trinh Xuan An, from Dong Nai, said that the regulation on the distribution of after-tax profits in Article 25 is a step forward, but the criterion of “the level of completion of national tasks” in Clause 2 is unclear and difficult to convince. He proposed to remove this criterion, prioritize the establishment of development investment funds before the reward fund, and allow pioneering enterprises to retain all profits to implement key projects. He also recommended using support and funding from the budget for science and technology development, innovation, and infrastructure, in accordance with Resolution 57-NQ/TW, to increase resources.

Delegate Pham Van Hoa, from Dong Thap delegation, said that priority should be given to setting up a development investment fund to increase charter capital in Clause 4, Article 25, instead of paying all profits to the budget. He proposed allowing businesses to retain profits in special cases, such as key projects, to avoid the situation of paying the budget and then asking for capital back, helping businesses have resources to implement strategic projects.

Delegate Tran Van Nam, Binh Duong delegation supported option 1 in Clause 1, Article 25, allowing the use of after-tax profits to handle failed investment costs, but proposed adding a mechanism to retain profits to invest in science and technology research projects, such as digital technology and artificial intelligence. He emphasized that this regulation needs to be clear so that businesses can proactively implement it, associated with a strict monitoring mechanism, ensuring proper use.

Delegate Le Minh Chau, Can Tho delegation proposed to add a regulation requiring financial impact assessment before transferring state capital in Article 20, with an independent appraisal report, to ensure no loss of capital. He proposed to protect the property rights of honest buyers in public and transparent auctions, in order to increase transparency and the legitimate rights of the participating parties.

Source: https://thoibaonganhang.vn/optimizing-management-and-distributing-loi-nhuan-de-tang-hieu-qua-von-nha-nuoc-164087.html