The 5th session of the 14th National Assembly.

A government report said management of state capital in equitized enterprises has complied with the law.

Deputy Mai Sy Dien of Thanh Hoa province said some equitized enterprises have not used state investment effectively. “State funds have been invested in enterprises in different sectors and managed by different agencies. This has complicated financial management and led to waste, loss, and poor performance of state-owned enterprises. State investment in state-owned corporations, groups, and enterprises is about 61 billion USD. If that investment is not carefully managed, the state budget will be wasted and it will be difficult to determine responsibility.”

Some deputies say management of state property in state-owned enterprises needs to be closely monitored. Mai Thi Anh Tuyet is a deputy from An Giang province said: “An independent mechanism for overseeing the management of state capital should replace concurrent management by Ministries and People’s Committees. In order to separate the functions of state governance and ownership, an agency representing state capital should be established.”

The deputies suggested offering strategic investors favourable conditions to increase capital resources, updating technology and management skills, and expanding markets.