Law on State-Owned Economic Groups in Vietnam

Abstract

Currently, our country has formed several state-owned economic groups that are heavily invested and, to a certain extent, have shown their pivotal role in the national economy. In addition, there have also been established non-state "economic groups" which, despite having a small investment, have made significant contributions to creating economic growth in recent years. However, the operation of state-owned economic groups has revealed many weaknesses, business efficiency is not commensurate with the investment and incentives of the State, not enough capacity to integrate and compete in the industry. region and around the world. Non-State "economic groups" are small in scale, not worthy of "groups", not able to compete with large economic groups in the current integration conditions. In addition to the causes arising from the process of organizing and implementing the law on economic groups (shown in many different activities, at all stages and stages of state management, from forming, management and administration to the inspection and examination of operations for economic groups), the defect in the law on economic groups has become the fundamental cause leading to weaknesses, inadequacies in the organization and operation of economic groups in our country. First, is the lack of regulations on non-state economic groups. This has created great difficulties for the formation, organization and especially business activities of non-state economic groups. Currently, in addition to some general regulations on economic groups, the new law only has detailed regulations on state economic groups. During the implementation process, many regulations have clearly revealed unreasonable points that need to be overcome soon, such as: several legal regulations do not reflect the true nature of the organization and operation of vietnam group (the mechanism for establishing a corporation, a mechanism for appointing personnel to manage and administer the corporation...); Some regulations are unclear, making it difficult to implement. Besides, there are also many problems arising in the organization and operation of the State economic group which have not been regulated by law.