Transferring State Capital Ownership of 18 SOEs to Ministry of Finance

In late February 2025, a signing ceremony was held at the Ministry of Finance headquarters to transfer the rights and responsibilities for representing state capital ownership from the Commission for the Management of State Capital at Enterprises (CMSC) to the Ministry of Finance (MoF).

Ceremony for transferring state capital ownership rights and responsibilities from Commission for the Management of State Capital at Enterprises to Ministry of Finance 

Deputy Prime Minister Ho Duc Phoc said that this unprecedented transfer streamlines the apparatus, accelerating economic growth and ushering the country into a new, stronger and more stable stage of development. Following its reshuffle and merger, the MoF is poised to play an important role in this process.

“The Ministry of Finance is like the backbone of the economy. The ministry's tasks are the cornerstone for achieving breakthrough economic growth and stronger development,” he emphasized.

In 2025, the Government aimed for GDP growth of 8% or higher. Deputy Prime Minister Phoc said that economic growth must rely mainly on corporate strengths. The responsibility of leaders of the Ministry of Finance, Presidents of the Board of Directors and General Directors of State-owned enterprises (SOEs) is enormous in empowering SOEs to develop better after the transfer.

He requested that the MoF continue to prioritize businesses and enable state-owned enterprises to serve as breakthrough platforms for development, tackling challenges effectively and taking decisive action. Businesses need to endeavor, work hard, be creative, think differently and adopt new ways to operate more effectively. Phoc expected: After being transferred to the common home - the MoF, these SOEs will continue to excellently complete their assigned tasks. The Government will also strive, first of all, to perfect institutions and facilitate businesses to develop and contribute to the common cause.

Minister of Finance Nguyen Van Thang said that all 18 transferred SOEs are industry leaders with stable and effective performance, making significant contributions to the state budget and helping maintain macroeconomic stability and social security.

To enable SOEs to grow better after the transfer, the MoF will further improve institutions and legal policies to regulate their operations, including 18 SOEs, Minister Thang affirmed. In particular, it will focus on building the Law on Management and Investment of State Capital in Enterprises towards increasing decentralization and delegation of power to empower their development.

He requested that the MoF’s units continue to support, usher and share with major SOEs. At the same time, it is requested that these SOEs will continue to collaborate with the MoF, other agencies, and local governments to achieve their targets. They are expected to lead in innovation, creativity, and digital transformation as outlined in Resolution 57 of the Politburo, pioneering growth breakthroughs and making contributions to the country's development.

By Hien Hung, Vietnam Business Forum