However, in addition, there will be new burdens for businesses as well as the problem of state capital management, the management apparatus of the enterprise system. What is the perfect way to preserve capital and develop SOEs nowadays when most of the large units are operating inefficiently.
"Super" committee, "super" manpower
Talking to PV, a leader of a construction corporation named in the proposed list of the management committee affirms that this will be a model that is unlikely to succeed, if not. The possibility of failure is clearly visible. This is because the "super" management committee was set up with an unimaginable ambition to manage an array of jobs covering all aspects of the economy, from industry (textiles, paper, beer alcohol, chemicals, ...) to agriculture, then transportation, aviation, construction, and finance.
Not to mention that each corporation, corporation that "super" this committee wants to control has dozens, even hundreds of subsidiaries and grandchildren. In which, many units are in a difficult situation with losses that cannot be solved for many years.
"It is sure that this super committee must have hundreds, thousands of human resources with" three heads, six hands "to be able to manage, not to mention dealing with the internal problems of SOEs today. They have yet to anticipate the status of group interests, as well as the issues related to their children and grandchildren. I believe it will be difficult to do, ”he said.
Financial expert Bui Kien Thanh also said that setting up a "super" committee would involve a huge amount of work. From assigning heads, deputy heads to other managerial positions. If the purpose is simply to separate from the governing body, just handing over to the MPI is fine. This is an "intermediary" suite, not having many benefits like current line ministries so the arrangement will be easier.
The most important issue, according to Mr. Thanh, needs to see what is the main purpose of setting up the committee: Is it to accelerate the equitization of SOEs that the Government does not need to hold? For this purpose, it is only necessary to set up a Central Steering Committee to closely follow the equitization of the units. Setting up a committee or doing something to manage state property, the biggest problem is choosing people. If you do not choose a person with enough management level, you will set up and play again.
“As for the decision to establish a committee, it must give them real power, without being subjected to direction and pressure from this man, that man in the appointment, intervention and operation of the enterprise. If not, do not lay more administrative agencies, just suffer from enterprises, ”said Thanh.
There must be a real authority mechanism
Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc also said that eliminating the regime of state-owned enterprise owners is a must. However, the proposal of the Ministry of Planning and Investment to establish a Committee or a specialized enterprise to manage the state assets valued at about 130 billion USD in corporations and corporations should not.
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According to Mr. Loc, even though the committee is set up, it is still the administrative agency. In governance, letting an administrative body manage state capital and assets is not appropriate. “It is possible to set up 2-3 state-owned capital management groups to act as financial companies in investing in enterprises.
These financial groups will operate as investors, not managing agencies, much less specialized regulators. This will ensure businesses to operate more autonomously and effectively. This model has also been applied by countries, for example Singapore has Temasek ”, Mr. Loc proposed.
However, Mr. Bui Kien Thanh said that setting up management models like Temasek is not suitable for Vietnam because it is a model of a financial group specializing in investing in enterprises. "The fundamental difference compared to the models of financial groups in other countries is that Vietnam is looking to withdraw capital trapped in SOEs and reorganize these enterprises to operate more efficiently," said Thanh. ants.
According to economist Pham Chi Lan, having a specialized agency to separate the management of ministries should be done in the context that many SOEs increasingly fail to demonstrate the strength of steel punches.
“Setting up a committee will help reduce concerns about the interests of the policy-dominating group and create inequality thanks to“ incentives ”in SOE operations with other normal enterprises. However, how is right is not easy, because besides what is also the risk. The proposal to form a committee is, in my opinion, careful. Along with that, there should be a very transparent and public mechanism for social supervision, ”Ms. Lan warned.