Hanoi (VNS/VNA) - The Committee for Managementof State Capital at Enterprises (CMSC) will overseethe finance of 19 State-owned groups and corporations this year.

The CMSC will review the operatingeffectiveness of the businesses to help them set targets andimprove competitiveness. It also expects to help themfollow laws and regulations on management and use of State capitaland assets.

In addition, the committee will discovershortcomings and help the businesses resolve the issues. Its work alsoaims to enhance financial transparency at State-owned enterprises.

The 19 groups include the Vietnam Oil andGas Group (PetroVietnam), Vietnam Electricity (EVN), Vietnam National Coal andMinerals Holding Group (Vinacomin), Vietnam Post and Telecommunication Group(VNPT), MobiFone, Vietnam Airlines, Airport Corporation of Vietnam (ACV), VietnamRailway (VNR), Vietnam Expressway Corporation (VEC), Vietnam National ShippingLines (Vinalines), Vietnam National Petroleum Group (Petrolimex), VietnamNational Chemical Group (Vinachem), Vietnam National Tobbacco Corporation(Vinataba), Vietnam Rubber Group (VRG), Vietnam National Coffee Corporation(Vinacafe), Vietnam Forest Corporation (Vinafor), Vietnam Northern FoodCorporation (Vinafood 1), Vietnam Southern Food Corporation (Vinafood 2) andState Capital Investment Corporation (SCIC).

The CMSC will also supervise State capitaldevelopment, management and use of State assets, investment projects,capital mobilisation, issuing bonds, debt management and cash flows.

In addition, it will supervisefirms' business plans, product supply, business results (return onequity, return on assets), State budget contributions, profit distribution anduse of funds.

The 19 businesses are expected to closelymonitor restructuring of State capital, investment at subsidiaries,salaries, bonuses, labourers’ benefits, and management.

The supervision plan will review the firms’financial situation after six months and then for the entire year.-VNS/VNA