Economic groups and corporations will transfer the right to represent the state capital owner to the State Capital Investment Corporation (SCIC) under the Prime Minister’s decisions or guiding documents.
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| The State Capital Investment Corporation (SCIC)__Photo: Internet |
This will be part of SCIC’s functions, tasks and operation mechanism to be amended and supplemented by the Finance Ministry.
Corporations will coordinate with ministries, sectors and provincial-level People’s Committees in transferring the right to represent the state capital owner at joint-stock companies transformed from wholly state-owned enterprises within 30 days after the publication of the real value of the state capital portions.
SCIC, established in 2005, was seen as a bold measure by the Government during the height of the economic and SOE reforms that aimed to improve the efficiency of state capital utilization.-(VLLF)
