State capital management commission completes tasks for 2020
State capital management commission completes tasks for 2020
The Commission for the Management of State Capital at Enterprises (CMSC) has settled 233 out of 259 cases transferred from ministries, including 44 in 2020, heard a conference in Ha Noi on Monday. 
Throughout 2020, the commission submitted proposals to Prime Minister Nguyen Xuan Phuc on restructuring and adjusting the charter capital of many enterprises, while consulting on inefficient enterprises.
Amid the COVID-19 pandemic’s impacts, it showed strong performance in leading the State-owned sector at a time with various challenges.
With efforts to realise the dual goals of preventing the COVID-19 pandemic and boosting socio-economic development, State-owned economic groups and corporations completed all tasks and plans set for the year.
The total revenue of 19 State-owned enterprises topped VND767 trillion (US$33.26 billion), equivalent to 87.36 per cent of the yearly target and 85.72 per cent of the result in 2019. Pre-tax profit was estimated at more than VND21 trillion, while the State budget payment of 17 out of the 19 enterprises exceeded VND56 trillion, equivalent to 112 per cent of the goal for 2020 and 79.3 per cent compared to that in 2019.
Addressing the conference, Deputy Prime Minister Truong Hoa Binh hailed the achievements the commission had made.
He noted that the commission, which was formed three years ago and has been operational for nearly two years, had overcome difficulties to complete all assigned tasks, maintaining and expanding State capital in enterprises.
He suggested the commission enhance its management efficiency while improving transparency and accountability, thus not allowing losses and waste of State capital and property.
At the same time, it should show stronger performance as the capital ownership representative at 19 groups and corporations, aiming to develop the State capital at enterprises, he said.
The commission would need to build specific criteria and indications assessing the efficiency of enterprises, while strengthening the application of technological advances in supervising businesses' operations, stated the Deputy PM.
He stressed that the restructuring and renovation as well as the equitisation of State-owned enterprises should be sped up with higher quality, along with the digitalisation of businesses amidst the Fourth Industrial Revolution.
Meanwhile, it is necessary for the commission to focus on detecting projects and enterprises suffering losses and inefficient operations.
On the occasion, four members of the commission were honoured with the Labour Order, third class, while seven others received certificates of merit from the Prime Minister in recognition of their outstanding performance and contributions to national construction and defence.
