The Government has issued a resolution to form a committee for managing State capital at enterprises.

Under Resolution No 09/NQ-CP, which came into effect on Saturday, the committee is an agency under the government that acts as the ownership representative of State capital at wholly State-owned enterprises and at joint stock and liability companies with two or more members.

The committee has a legal status, seal with the national emblem and an account opened at the State Treasury.

A working group to boost the formation of the committee was established in mid-January with 11 members, headed by Deputy Prime Minister Vuong Dinh Hue and four deputy heads --- Nguyen Hoang Anh, former Secretary of Cao Bang Province Party Committee; Minister-Chairman of government office Mai Tien Dung; Minister of Planning and Investment Nguyen Chi Dung and Minister of Finance Dinh Tien Dung.

Hoang Anh was also nominated to be the chairman of the committee.

The committee is expected to separate ownership from management functions to boost efficiency of State capital.

A draft decree about the functions, tasks, rights and organisation of the committee is being compiled and is expected to be submitted to the government for review in the first quarter of this year.

State-owned enterprises (SOEs) in the country have capital and assets worth an estimated 5.4 quadrillion (US$239 billion).

As planned by the Ministry of Planning and Investment, 30 SOEs would be put under the management of the special committee, including State Capital Investment Corporation which was founded in 2005 with functions similar to that of the committee. — VNS