Binh Thuan workshop seeks feedback on revised State capital law

The workshop takes place in Binh Thuan province on March 29. (Photo: VNA)

Binh Thuan (VNA) – A workshop took place in the south central province of Binh Thuan on March 29 to collect feedback on the revised Law on Management and Use of State Capital Invested in Production and Business in Enterprises.

The event was co-hosted by the 15th National Assembly’s Committee on Finance and Budget, Germany’s Konrad Adenauer Foundation, and the NA Standing Committee’s Institute of Legislative Research.

Delegates said the law has introduced a mechanism for transparent public disclosure of information for the first time, marking a significant step towards transparency in State enterprise management. Additionally, the elimination of State subsidies and loss compensation for these enterprises was seen as crucial for Vietnam's global integration efforts.

However, concerns were raised regarding outdated capital-related concepts causing confusion. Delegates emphasised the need for amendments to ensure clear distinctions between various forms of State-owned capital and enterprise assets.

Leif Dustin Schneider, Vice Chairman of the European Chamber of Commerce in Vietnam’s Legal Sector Committee, advocated for leveraging the best practices in governance and structure during the revision process. He stressed the importance of effective and transparent mechanisms to maximise benefits and minimise risks associated with State ownership in commercial entities.

Bui Thi Hong Thuy, Deputy Director of the provincial Department of Finance, suggested the drafting agencies carefully review and retain relevant provisions with a proven positive impact from the current law./.