Attending the workshop were Mr. Nguyen Hong Hai - Vice Chairman of the Provincial People's Committee, Mr. Nguyen Huu Thong - Deputy Head of the National Assembly Delegation of Binh Thuan Province; Ms. Nguyen Thi Thuan Bich - Vice Chairman of the Provincial People's Council, along with Professors and Doctors from provinces and cities in the country.

The workshop identified the need to amend the Law on Management and Use of State Capital Invested in Production and Business at Enterprises. This is a very important issue in the operation and development of the economy in the state-owned enterprise sector. Attending the workshop, delegates made contributions on the process of building and viewpoints on amending the Law on Management and Use of State Capital Invested in Production and Business at Enterprises; the need to amend the current Law on Management and Use of State Capital in Production and Business at Enterprises; Improving the efficiency of State capital use and lessons learned in the operation and use of State capital in enterprises.

At the same time, the delegates attending the workshop also pointed out the current situation and recommendations for amending the Law on Management and Use of State Capital Invested in Production and Business at Enterprises; removing difficulties and obstacles in the implementation of this Law in investment in production and business at enterprises to improve the efficiency of capital use and strictly comply with the provisions of the law. Experience of some Southeast Asian countries in managing and using State capital invested in production and business...

Mr. Leif Dustin Schneider - Vice Chairman of the Legal Subcommittee, European Business Association in Vietnam, identified the importance of State capital, in which the key factors for success are management and control to improve the efficiency of State capital use.

Mr. Leif Dustin Schneider, affirmed that the use of state capital in commercial enterprises can bring certain benefits in controlling strategic investments , enhancing market stability , and promoting public interests . It is necessary but also has many potential risks , inefficiencies due to bureaucracy if delayed or lack of innovation , excessive political intervention leading to distortion of fair market competition . When amending the "Law on Management and Use of State Capital Invested in Production and Business at Enterprises", Vietnam can maximize the benefits and limit the pitfalls of state ownership in commercial enterprises by implementing an effective, transparent governance mechanism. Strict management and supervision in addition to compliance with international best practices on governance and structure. In this way, state-owned enterprises can improve their efficiency, ultimately delivering value to stakeholders and contributing to the country's continued sustainable development.

Speaking at the workshop, Ms. Bui Thi Hong Thuy - Deputy Director of the Department of Finance, said: In Binh Thuan, there are 4 100% state-owned LLCs and 2 joint stock companies with state capital. In the past time, state-owned enterprises and specialized agencies of the Provincial People's Committee have performed the function of capital owners in accordance with the provisions of the Law on management and use of state capital invested in production and business at enterprises... Thereby, creating a legal corridor for state capital investment in production and business at enterprises; mechanisms for management and use of state capital and assets...

The Deputy Director of the Binh Thuan Department of Finance said that currently, a number of policies, guiding viewpoints and legal systems are related to the management and use of state capital. The implementation of the Law and guiding documents has revealed shortcomings and limitations related to issues such as: Determining state capital invested in enterprises, authority to decide on investment projects, construction, purchase and sale of fixed assets; Methods of transferring investment capital, distributing after-tax profits, preserving and developing enterprise capital; methods of transferring and restructuring state capital in enterprises; management and use of money collected from equitization and divestment; authority, responsibility, methods of managing people and groups of people representing state capital in enterprises, representative agencies of owners and supervision work; management of state-owned enterprises over subsidiaries in which the state-owned enterprise holds 100% of charter capital.

Binh Thuan province proposed that the agencies in charge of drafting the Law should review, study, inherit, and promote the provisions that are still suitable to reality and have positive impacts of the current Law . Accordingly , separate and clearly define the state management function with the function of representing state capital ownership and the function of administration and operation of enterprises . At the same time, promote decentralization and delegation of power to the agency representing the owner and enterprises . Regulate and clearly define the purpose, requirements, scope, fields, principles, and forms of state capital investment in enterprises; consider giving proactive authority to state enterprises to manage the operations of enterprises in which they contribute capital. The assessment of the effectiveness of state capital investment activities must be carried out according to market principles. Accordingly, it must be assessed based on the added value of investment capital and dividends, profits distributed annually - the effectiveness of capital investment of state shareholders.

Delegates also said that the rights and responsibilities of relevant agencies in exercising the rights of owners by the Prime Minister, the representative agency of the owner, the Board of Members, the Chairman of the company, the representative of the state capital portion for the enterprises they decide to establish , or are assigned to manage, need to be reviewed and adjusted accordingly to ensure strong decentralization for the representative agency of the capital owner , including the Ministries, branches, and People's Committees of the provinces, reducing the administrative work that must be considered and decided by the Government and the Prime Minister . The representative agency of the capital owner must be decentralized, clearly defining the rights and responsibilities and not limiting the rights of the enterprise to increase the autonomy of the Board of Members, the Executive Board of enterprises with state capital, thereby limiting the state management agencies from acting on behalf of the representative agency of the capital owner and acting on behalf of the enterprise./.