Business

Overlapping regulations the key issue facing SOE performances

Regulatory overlapping was the biggest problem at State-owned enterprises (SOEs) since they were handed over to the Commission for the Management of State Capital at Enterprises, officials have said.
Overlapping regulations the key issue facing SOE performances ảnh 1Inside a railway station managed by the Vietnam National Railway Corporation (VNR). (Photo baochinhphu.vn)

Hanoi (VNS/VNA) - Regulatory overlapping was the biggest problem atState-owned enterprises (SOEs) since they were handed over to the Commissionfor the Management of State Capital at Enterprises, officials have said.

According to vice chairwoman Nguyen Thi Phu Ha, the commission was responsiblefor managing State capital at 19 large-cap SOEs.

Among the 19 are the National Oil and Gas Group (PetroVietnam), the VietnamNational Petroleum Group (Petrolimex), the Vietnam Rubber Group (VRG), VietnamElectricity (EVN) and the Vietnam National Railway Corporation (VNR).

Under Decree 131/2018/ND-CP issued by the Government in late September 2018,the business conditions at the SOEs should remain unchanged after they werehanded over to the commission.

But there were still problems, Ha said at a Government meeting on March 3.

Minutes from the ministries that used to manage the State capital at the 19SOEs showed the companies had not accomplished nearly 260 tasks, she said.

These tasks had been assigned and were supposed to be completed before the SOEswere moved to the commission, she said.

Some projects were still facing problems after 10-20 years, she added.

“Some projects are not in line with existing policies, and management unitshave been asked for clarification,” she told the meeting.

“The SOEs must ensure State capital is preserved and used efficiently. If not,they are required to report to the commission,” Ha said.

Regulatory overlapping had made it difficult for the SOEs to either operate bythemselves or ask for State funding, according to the vice chairwoman.

VNR is among the companies that has had problems with business operations. Thecompany has asked the commission to hand back control to the Ministry ofTransport.

Before the commission took charge of the State capital in VNR, the Governmenthad funded the company through the Ministry of Transport. After two years, theministry is still in charge of providing operating capital for the company andmanages railway assets, even though the company is now managed by thecommission.

That means if VNR was to operate independently, the Government needed to amendseveral policies on procurement, railway operation and public asset management,according to VNR chairman Vu Anh Minh.

Vice Chairwoman Ha said the Prime Minister had asked the transport ministry andthe commission to work together to find a solution for the case./.
VNA
#SOEs #large-cap SOEs #PetroVietnam #business condition #management unit #business operation #railway asset #Vietnamplus #Vietnam News #Vietnam News Agency
Follow VietnamPlus

Related News

See more

Vietnamese Ambassador to the RoK Vu Ho (first, left) and other participants in the conference in Seoul on July 14 (Photo: VNA)

Vietnam, RoK strengthen investment links at Seoul conference

Vietnamese Ambassador to the RoK Vu Ho said bilateral relations are currently enjoying the best conditions, underpinned by what he described as the three key factors of “favourable timing, geographical advantages, and strong public support”.

Electricity generation is monitored at the plant of the Hai Phong Thermal Power Joint Stock Company. (Photo: VNA)

Energy security “shield” must be built in layers: Expert

In an interview recently granted to the Vietnam News Agency, Dr Nguyen Van Tu, General Director of the Vietnam Petroleum Institute (VPI), said petroleum reserves are a critical line of defence, but a genuine energy security “shield” must be built in layers.

Reducing emissions is not only essential for tackling climate change but also brings tangible benefits to farmers and businesses. (Photo: VNA)

Vietnam steps up low-emission farming to support green growth

Vietnam is among the world's leading producers and exporters of agricultural products, including rice, coffee and a wide range of fruits. However, key export markets such as the US, the European Union (EU) and Japan are tightening sustainability requirements for agricultural products, making the transition to low-emission farming increasingly important.

Fresh fruit products of Vietnam are introduced to German customers. (Photo: VNA)

"Live data" paves way for Vietnamese farm exports

Achieving Vietnam's target of more than 74 billion USD in agricultural, forestry and fishery exports in 2026 will require stronger traceability systems, initially focusing on key export commodities, high-value products and major markets such as the EU, the US and China.

An enterprise in the southern province of Dong Thap invests in modern technologies and machinery for production. (Photo: VNA)

Broadening financing channels key to unlocking SME growth

As the private sector takes on a more central role under the Politburo's Resolution No. 68-NQ/TW, experts and business representatives say Vietnam needs a more comprehensive approach to supporting SMEs. This includes improving institutions, making financial support tools more effective and reshaping the financial system to better suit the characteristics of SMEs.

Phase 1 and Phase 2 of the Tan Thuan Wind Power Plant in Tan Thuan commune, Ca Mau province, have a combined installed capacity of 75 MW, comprising 18 wind turbines. (Photo: VNA)

Energy storage unlocks renewable power potential, cuts emissions

Energy transition is not simply about replacing fossil fuels with wind and solar power. It also requires building a sustainable energy ecosystem in which clean power generation, energy storage, smart grids and material recycling chains develop in parallel. Such an integrated approach will improve energy efficiency, further reduce greenhouse gas emissions and help Vietnam achieve green growth and net-zero emissions targets by 2050.

Vietnamese food is increasingly diverse in varieties and packaging, meeting domestic demand. (Photo: VNA)

Government urges vigilance as inflation pressures mount in H2

The Government's inflation target remains within reach despite mounting headwinds. Several forecasts suggest inflation can stay below 4.5% this year if international oil prices continue to retreat. Extending domestic fuel tax incentives through year-end, along with stable electricity prices, healthcare fees and exchange rates, would offer additional relief.

Construction is underway at the Tu Lien Bridge project in Hanoi. (Photo: nhandan.vn)

Public investment drives Hanoi’s growth momentum

In the first half of 2026, Hanoi disbursed 64 trillion VND (2.4 billion USD) in public investment, equivalent to more than 53% of the annual plan assigned by the Prime Minister – the highest mid-year disbursement rate recorded in many years.

Representatives of relevant parties at the sponsorship signing ceremony on July 13, 2026 (Photo: Vietjet)

Vietjet, Vikki Digital Bank named official partners of ASEAN United FC events

As the Official Airline Partner of the ASEAN United FC events, Vietjet connects fans and destinations across Southeast Asia through the region's leading football competitions, kicking off with the ASEAN Hyundai Cup™ 2026, the jewel in the crown of ASEAN football and the region's biggest sporting event.

A truck carrying Vietnamese goods passes the Kim Thanh International Land Border Gate No. 2 in Lao Cai province. (Photo: VNA)

Lao Cai steps up anti-smuggling crackdown, handles more than 1,220 cases

Among the cases were 367 involving the illegal trade and transport of prohibited or smuggled goods, 692 related to commercial and tax fraud, and 162 concerning counterfeit products, imitation goods and intellectual property infringements. Criminal proceedings were launched in 231 cases, with 406 suspects facing criminal proceedings, while 957 cases were settled through administrative penalties.