Lawmakers at the 13th National Assembly (NA) on November 11 discussed the current draft of the Law on Management and Use of State Capital in Production and Business, as part of their ongoing eighth session.

The law aims to increase the efficiency of State capital investments in enterprises, expedite the restructuring of State-owned enterprises (SOEs), and prevent corruption and waste.

According to deputies Tran Xuan Hoa, Ngo Van Minh, Tran Hoang Ngan, and Truong Van Vo – from Quang Ninh, Quang Nam, Ho Chi Minh City , and Dong Nai, respectively – the law seeks to eliminate ministry and sector governing mechanisms, ultimately separating business ownership and State management of enterprises. They proposed establishing a central agency to supervise and manage all State capital invested in SOEs.

Focusing on the principles of investment, management, and use of State capital at enterprises, Hanoi deputy Pham Huy Hung suggested the law should specify detailed principles designed to ensure SOEs are equal in competition and partnership with businesses in other economic sectors.

Meanwhile, Do Van Ve, representative of Thai Binh, highlighted the importance of strengthening management and monitoring of State capital within enterprises, which he considers an essential component to the restructuring of SOEs. He also proposed increasing SOEs’ self-management during their operations, alongside the decline of administrative interference from State governing bodies to SOEs.

Simultaneously, Dong Nai deputy Truong Van Vo emphasised the need to strengthen the role of the NA in supervising the use of State capital in production and business. He suggested the law clearly state and define the authority of the NA and NA bodies in the allocation of State capital to SOEs, while detailing the inspection and examination over the management and use of State capital invested in production and businesses.-VNA