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Development of economic groups discussed
A seminar with a theme ‘Economic group – theory and practice’ was jointly held by the Truth National Political Publishing House, the Central Institute for Economic Management and Research, Vietnam Economic Times and the Vietnam Youth Company in Hanoi on May 25.
The aim of the seminar is to clarify some theoretical issues regarding economic groups in Vietnam, give solutions to overcome the current difficulties and make favourable conditions for economic groups to take shape and effectively develop in the right direction in Vietnam, thus making positive contributions to improving the competitive edge of the Vietnamese enterprises as they intergrate deeper into the regional and global economy.
Addressing the seminar, Dr. Tran Xuan Lich, Deputy Head of the Central Institute for Economic Management and Research believed that the implementation of the ownership function for economic groups in Vietnam has so far not been clarified, so the supervision on the economic groups’ activities have not been adequately addresed. Therefore, the State management over economic groups still has drawbacks and there is an implicit risk of competitive limitation and monopoly.
A legal framework for the model of economic group has also not been made clear, he emphasised, adding that this has created a lot of difficulties for the formation and long-term development of economic groups in Vietnam.
Sharing the view with Dr. Tran Xuan Lich, Pham Anh Tuan, Deputy Head of the Enterprise Innovation Department under the Government Office stressed that now more than ever it is very necessary to continue to finalise a legal framework for the organisation and operation of economic groups so as to ensure it can meet the requirements on economic groups’ development and the State agencies’ management and supervision over these economic groups.
At the seminar, many officials, experts and businesspeople also discussed experiences of establishing and developing economic groups in the region and in the world, the advantages of the economic group model over the general corporation or independent enterprise models, the relationship between the president of management board and general director of each economic group, the human resources and the legal framework for economic groups.
Currently, there are eight State-owned economic groups in Vietnam, established from former general corporations. They include the Vietnam Post and Telecommunications Group, the Vietnam Coal and Mineral Group, the Vietnam National Textile and Garment Group, the Viet Nam Shipbuilding Industry Group, the Vietnam Electricity Group, the Vietnam National Oil and Gas Group, the Vietnam Rubber Group and the Bao Viet Financial and Insurance Group.
Truong Son
NHANDAN
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