What is the Committee for Management of State Capital at Enterprises? And what content is requested from the competent state authority to submit to the Government?

What is the Committee for Management of State Capital at Enterprises?

Pursuant to Clause 1, Article 4, Decree 10/2019/ND-CP has the following provisions:

Owner representative agency

1. The Committee for Management of State Capital at Enterprises is the agency representing the owner of enterprises in which the State holds 100% of the charter capital and the state capital invested in the enterprise according to the Government’s regulations.

2. Ministries, ministerial-level agencies, Government agencies (hereinafter collectively referred to as Ministries), People’s Committees of provinces and centrally run cities (hereinafter collectively referred to as Provincial People’s Committees) are the owner’s representative agencies for the following subjects:

a) Enterprises of which 100% of charter capital is held by the State and state capital invested in enterprises decided to establish by the Ministry or Provincial People’s Committee or assigned to manage and are not subject to transfer to the Committee for Management of State Capital at Enterprises and the State Capital Investment and Trading Corporation according to the provisions of law;

b) Enterprises in which 100% of charter capital is held by the State and the state capital invested in enterprises subject to transfer to the State Capital Management Committee at Enterprises and the State Capital Investment and Trading Corporation during the period not yet transferred.

3. State Capital Investment and Trading Corporation exercises the right to represent the state owner in enterprises transferred from ministries and provincial People’s Committees according to the provisions of law.

Thus, according to the above regulations, the Committee for Management of State Capital at Enterprises is the agency representing the owner of enterprises in which the State holds 100% of the charter capital and the state capital invested in the enterprise according to the Government’s regulations.

What contents does the Committee for Management of State Capital at Enterprises request competent state agencies to submit to the Government?

Pursuant to Clause 1, Article 5, Decree 10/2019/ND-CP has the following provisions:

Exercise the rights and responsibilities of the Government

The rights and responsibilities of the Government according to the provisions of the Law on management and use of state capital invested in production and business at enterprises are implemented as follows:

1. The Committee for Management of State Capital at Enterprises requests competent state agencies to submit to the Government: Promulgating, amending and supplementing charters of enterprises with 100% charter capital held by the State and established by the Prime Minister’s decision to assign the Committee to act as the owner’s representative according to Government regulations; promulgate, amend and supplement financial management regulations of Vietnam Oil and Gas Group and Vietnam Electricity Group.

2. The Ministry of National Defense submits to the Government to promulgate, amend and supplement the charter and salary management mechanism of the Parent Company – Military Industry and Telecommunications Group.

3. Ministry of Finance:

a) Submit to the Government for promulgation: Regulations on converting enterprises with 100% charter capital held by the State into joint stock companies; regulates financial management for enterprises with 100% charter capital held by the State; regulate criteria for evaluating operating results, production and business efficiency for enterprises with 100% charter capital held by the State; regulates the supervision and inspection of investment activities, management and use of state capital at enterprises;

b) Develop a Report on investment activities, management and use of state capital at enterprises nationwide, submit to the Government for consideration and report to the National Assembly at the year-end meeting as assigned by the Government.

Thus, according to the above regulations, the Committee for Management of State Capital at Enterprises requests the competent state authority to submit to the Government the following contents:

– Promulgate, amend and supplement charters of enterprises with 100% charter capital held by the State whose establishment is decided by the Prime Minister, assigning the Committee to represent the owner according to Government regulations;

– Promulgate, amend and supplement financial management regulations of Vietnam Oil and Gas Group and Vietnam Electricity Group.

Who are the leaders of the State Capital Management Committee at enterprises?

Pursuant to Article 8 of Decree 131/2018/ND-CP there are the following provisions:

Leaders

1. The Committee has a Chairman and no more than 04 Vice Chairman.

2. The Chairman and Vice Chairman are appointed, dismissed and dismissed by the Prime Minister according to the provisions of law.

3. The Chairman of the Committee is responsible to the Government, the Prime Minister and the law for the Committee’s activities. The Vice Presidents assist the President and are responsible before the President and the law for assigned tasks.

4. The Chairman of the Committee regulates the functions, tasks, powers, and organizational structure of the units within the Committee’s organizational structure; appoint, dismiss, and dismiss heads and deputy heads of units within the Committee’s organizational structure according to the provisions of law.

5. The Chairman of the Committee enjoys benefits equivalent to a Minister; The remaining leadership positions are entitled to the level specified in section I.1 of the Table of allowances for leadership positions (election and appointment) in state agencies and state service units issued together with Decree No. 204/2004/ND-CP dated December 14, 2004 of the Government on salary regimes for cadres, civil servants, public employees and the armed forces. page.

Thus, according to the above regulations, the leadership of the Committee for Management of State Capital at Enterprises includes a Chairman and no more than 04 Vice Chairmen.