Mô hình quản lý doanh nghiệp nhà nước sau cổ phần hóa: Nghiên cứu trường hợp Tập đoàn Xăng dầu Việt Nam TT Eng

VIETNAM ACADEMY OF SOCIAL SCIENCES
GRADUATE ACADEMY OF SOCIAL SCIENCES

NGO DUC HUNG

MODEL OF STATE ENTERPRISE MANAGEMENT AFTER
EQUITIZATION: RESEARCHING THE EVENT OF
VIETNAM NATIONAL PETROLEUM GROUP

Major: Economics Management
Code: 9.34.04.10

ABSTRACT OF ECONOMICS DOCTORAL THESIS

HANOI - 2022


The works is published at:
GRADUATE ACADEMY OF SOCIAL SCIENCES
VIET NAM ACADEMY OF SOCIAL SCIENCES

Supervisors:
1. Assoc. Prof. PhD. VU HUNG CUONG
2. PhD. TRAN KIM HAO

Referee 1: Assoc. Prof. PhD. TRAN DUC HIEP

Referee 2: Assoc. Prof. PhD. NGUYEN VAN NAM

Referee 3: Assoc. Prof. PhD. NGUYEN DUY DUNG

The thesis is defended in front of Academy Board of Doctoral Thesis,
at: Graduate Academy of Social Sciences, 477 Nguyen Trai, Thanh Xuan, Hanoi
At… hour, date ……… month …… year ……

The thesis can be found at:
- National Library
Library of Graduate Academy of Social Sciences


LIST OF SCIENCE WORKS HAVE BEEN PUBLISHED BY THE
AUTHOR IN RELATION TO THE THESIS

1. Ngo Duc Hung (2020), Innovating model of state Enterprise management
after equitization in some Asean countries and lesson for Vietnam
National Petreleum Group, Pacific – Asean Economics Magazine, Vol.
of month 12/2020.
2. Ngo Duc Hung (2020), Factors affect the innovation of state Enterprise
management after equitization, Pacific – Asean Economics Magazine,
Vol. of month 1/2021.
3. No Duce Hong (2021), Usina cuantitativo tolos to analice elementos
chicha afecta the innovation of state enterprise management model
after equitization in Vietnam Nacional Petrolean Grupo, Pacifica –
Asean Economices Magazine, Vol. of monte 4/2021.
4. Ngo Duc Hung (member), Solution of developing enterprises of
Southwest private economics area in the new background, (belonging
to Southwest programe) Assoc. Prof. PhD. Vu Hung Cuong was the
dean, Institute of Social Science Information hosted to carry out,
inspected national grade in 2021 with excellent rank.

INTRODUCTION
1. The necessity of the thesis
In Vietnam, innovation and development of state enterprises
are great advocates of the Party and Government. In the past years,
the Government has issued many policies and measurement to
innovate model of managing, developing state enterprises and kept
considering to innovate economic management with the key of
innovating model of state enterprise management to the the top duty,
throughout of forming state enterprises, state economic corporations
with capacity of competing in the world market, creating the position
and capacity of economics in the trend of globalization and
international economic integration.
Model of managing state enterprises is specific expression
of operational process of state enterprise towards and getting target of
economic effectiveness. Organization management model has hugely
important role and impact to the development of state enterprise. If
state enterprise’s operation bases on the fundamental of appropriate
and right management and organization per stage of development, it
shall promote resources, strength of state enterprise and vice verse.
The current Vietnam National Petroleum Group (Petrolimex)
was establised from equitization and restructure of Vietnam National
Petroleum Corporation. Vietnam National Petroleum Group operates
under Joint Stock Company, in which the Government holds major
shares of control and operation according to Enterprise Law. The
Group is special State Enterprise, with duty of economics – policitics
assigned to secure and develop

state capital, simultaneously its

1

major role of regulating, stablizing and developing petroleum,
petrochemical products.
Since equitization and restructure, Petrolimex has reached
initial success; However, after equitization, management model of
Petrolimex still has some problems, so economic effectiveness of the
Group is not equal to resource, and loss, causing state capital leakage.
So, finding measures to innovate model of state enterprise after
equitization in Petrolimex is considered to be necessary with meaning
both in theory and practice. Hence, the author chooses research direction
“Model of State Enterprise management after equitization:
researching the event of Vietnam National Petroleum Group” to be
the title for the thesis.
2. Target and duty of research
2.1. Research target
- General target: Approaching under view of economic
management, on the basis of systematizing theoretical matters about
model of state Enterprise management after equitization and
assessing the status of state Enterprise management model after
equitization, from the event of Vietnam National Petroleum Group,
the Thesis has proposed some major solutions to innovate model of
state Enterprise management after equitization in the current Vietnam
National Petroleum Group.
- Specific targets:
+ Sumarizing filtering theoretical basis of state Enterprise
management model after equitization.
+ Assessing the reality of state enterprise management model
after equitization in Vietnam National Petroleum Group.

2


+ Making proposal of major solutions to innovate model of state
Enterprise management after equitization in the next years.
2.2. Research duty
- Overviewing research duty in related to the title of the thesis
- Making clear theoretical basis of innovating state Enterprise
management model after equitization
- Making survey the reality of innovating state Enterprise
management model after equitization of some countries in the world
and taking lesson for Vietnam National Petroleum Group.
- Analyzing the reality of innovating state Enterprise
management model and the event of Vietnam National Petroleum Group
after equitization; assessing the achievement, limits and pointing out the
causes, matteres setted after equitization in Vietnam National Petroleum
Group.
- Analysing the circumstance, and making proposal of points of
view of orientation, solutions of innovating model of state Enterprise
management after equitization in Vietnam National Petroleum Group in
the next coming years.
3. Subject and scope of research
3.1. Research subject:
Model of state Enterprise management after equitization.
3.2. Research scope
- Content scope: The thesis focuses on researching model of
state

Enterprise

management

after

equitization

including:

organization structure; mechanism of supervisión management;
internal interconnections; human resources.

3


- Space scope: Researching experience of Asean countries
(China,

Singapore,

Japan)

and

Europe

(England,

France,

Netherlands) and researching generally the reality of state Enterprise

management model after equitization in Vietnam and deeper
researching the event of Vietnam National Petroleum Group.
- Scope of time: Researching the reality from 2012 to 2019,
making proposal of solutions for period 2020 - 2030 and vision till
2040.
4. Theoretical basis and research method
4.1. Theoretical basis
4.1.1. Research quetions
4.1.2. Research hypothesis
4.2. Research method
4.2.1. Methodology
4.2.2. System of research methods
4.2.3. Approach way
- Approaching institutions:
- Approaching system and structure:
- Approaching analysis and comprehension:
- Approaching history and logic:
- Approaching the field observation:
- Approaching qualitative and quantitative:
- Approaching statistics:
4.2.4. Analysis frame of innovating model of state Enterprise
management after equitization in Vietnam National Petroleum Group
5. Scientific contributions of the thesis

4


- The result of the thesis contributes to make clear theoretical
issues about model of managing state Enterprise management after
equitization.

- Making clear experience about model of state
Enterprise management after equitization in some countries and
lessons for Vietnam National Petroleum Group.
- Analysing, assessing the reality of state Enterprise
management model after equitization in Vietnam National Petroleum
Group to be basis for points of view, target orientation and making
proposal of solutions to innovate model of state Enterprise
management after equitization in Vietnam National Petroleum in the
next coming years.
6. Theoretical meaning and the reality of the thesis
6.1. Theoretical meaning:
- The thesis has systematized, supplemented more general
theoretical issues about model of State Enterprise management after
equitization in general and Vietnam National Petroleum Group in
particular;
- Building model of econometrics model, analysing elements
affect to the effectiveness of innovating State Enterprise management
after equitization;
6.2. The practical meaning:
- The thesis assesses the reality of management model of
Vietnam National Petroleum Group, points out clearly achieved
issues, limits and causes, to make proposal of specific solutions for
innovating model of management in Vietnam National Petroleum
Group in reality;

5


- The research result of the Thesis is basis for state
authorises, Vietnam National Petroleum Group to research and refer,

serving policy planning, deploying in the reality to innovate
management model in Vietnam National Petroleum Group after
equitization. The thesis is a referent document for training
institutions, scientific research organizations.
7. Structure of the thesis
Out of introduction, conclusión, list of referent documents,
annex, structure of the thesis include:
Chapter 1. Overview of research situation
Chapter 2. Theoretical basis and reality about innovating
model of State Enterprise management after equitization
Chapter 3. The reality of innovating model of state Enterprise
management after equitization in Vietnam National Petroleum Group
Chapter 4. Solutions of innovating model of state Enterprise
management after equitization in Vietnam National Petroleum Group.

6


Chapter 1
OVERVIEW OF RESEARCH SITUATION
1.1. Oversea researches related to the title of the thesis
Group of authors Barry Spicer, David Emanuel, Michael Powel
(1993) Transforming state enterprises – managing radical change of
organization in deregulated environment. Éslie Cohen and Claude
Henry, 1997, Public service and state owned are. State enterprise
reformation path in China (Zhou Fangsheng and Wang Xiaolu, 2002).
The authors Graham, Edward M, in the book: Reforming Korea’s
Industrial Conglomerates, 2003. Baoli Xu and Minggao Shen, 2003,
China’s Industrial Conglomerates: past, present and future of
development. Heibatollah Sami, Justin T. Wang and Haiyan Zhou

(2009): Corporate Governance and operating performance of Chinese
listed firm...
1.2. Domestic researches relate to the title of the thesis
1.2.1. Research works relate to argument about innovating model of
state enterprise management after equitization.
The work of state enterprise equitization, theoretical basis
and practical experience by the author Nguyen Ngoc Quang (1996);
Establishment and Development of Economic Conglomerates project
on the basis of State Corporation of Central Institute of Economic
Management (Ministry of Planning and Investment, 2003); Phan Duc
Hieu, 2003, State enterprise reformation; Le Hong Hanh, 2004, State
enterprise equitization – issues about argument and reality; Nguyen
Minh Chau, 2005, Economic Group and some matters about building
Economic Group in Vietnam. Bui Quoc Anh, 2008, issues about

7


argument and reality after equitization of state enterprises in
Vietnam. Ngo Thi Nguyet Nga (2011), Re organizing textile
enterprises of Vietnam Textile Corporation. Nguyen Viet Xo, 2011,
State management about equitization upon establishing Economic
Groups in Vietnam currently.

Some other typical works: State

management about enterprise equitization in Hanoi City. (Hoàng
Tuân, 2016); Enterprise management after equitization at Ministry of
Transport (Nguyễn Duy Ký, 2012); Nguyễn Tuấn Phong, 2012,
Innovating organization and management according to model of

Parent Company – Subsidiary in Vietnam Beer – Alcoho – Beverage
Join Stock Company (the event HABECO). Research of building
operation model of Vietnam National Petroleum Group of Trần Quốc
Việt, 2017.
1.2.2. Group of research works relate to experience, result of
innovating model of state enterprise management after equitization
The project state enterprise equitization – experience from
the world (Hồng Đức Tạo, Nguyễn Thiết Sơn, Ngơ Xn Bình,
1993); Trần Tiến Cường, 2005, Economic Group – International
experience and argument applied into Vietnam; The author Trần Kim
Hào and Bùi Văn Dũng, Establishing, developing and managing
economic management: Argument, international experience and
lesson for Vietnam, 2014. Trần Quốc Việt (2017), Research of
building model of Vietnam National Petroleum Group. State
enterprise equitization in Vietnam (Hồng Cơng Thi, Phùng Thị
Doan, Financial Science Acadamy, Statistics Publisher, 1994);
“Establishing and managing Economic Group in Vietnam” (Nguyễn
Đình Phan 1996); State economics and process of innovating state

8


enterprise of Ngo Quang Minh, 2001. Model of Economic Group in
Industrialization, Modernization (Vũ Huy Từ 2002); The project of
Establishing and developing Economic Group on the basis of State
Corporation (Ministry of Planning and Investment, 2005); ...
1.2.3. Group of works relate to the reality of state enterprise model
after equitization
The project of Equitizing and managing state enterprise
after equitization, (Lê Văn Tâm, 2004); Report at the Conference

about state enterprise post – equitization (Central Institute for
Economic Management (CIEM) – The World Bank (WB) organized
in 2005; Managing state capital at state enterprises after state
enterprise equitization (Nguyễn Thị Thu Hương, 2009); Nguyễn
Duy Hùng (2013), State enterprise in the socialist oriented market
economy; Trần Trung Tín (2015), Restructuring state enterprise in the
military. Nguyễn Đức Long (2018), Restructuring State Economic
Group in Vietnam currently; Trịnh Văn Súy (2015), Socio –
economy issues arising during process of equitizing state
enterprises in Thanh Hoa Province. The project of reality and
solution of developing sustainably economic group in Vietnam,
the auhtor Trần Kim Hào and Bùi Văn Dũng (2015). Dương Đức
Tâm (2016), Keep equitizing and solving issues of post - equitization
of state enterprises belonging to Ministry of Industry and Trade.
1.2.4. Group of research works relate to solution of innovating model
of state enterprise management after equitization.
The author Tran Hong Thai (2001), Solutions of carring out
effectively process of State Enterprise equitization. Đoàn Ngọc Phúc
(2015), Improving effectively operation of state enterprise after

9


equitization in Vietnam. Hoàng Kim Nguyên (2003), Some solutions
of promoting the process of state enterprise equitization in industry in
Vietnam.
The above researches mention to different issues, aspects that
relate to the solutions of innovating state Enterprise in general and
state Enterprise after equitization are carried out by many different
subjects. These are important basis for the thesis to be inherited

selectively and find out the space to determine clearly and make
proposal of solutions to innovate model of state Enterprise after
equitization in Vietnam National Petroleum Group.
1.3. General assessment about researches related to the title of
the thesis and issues need to be researched
1.3.1. General assessment about researches related to the title of the
thesis
- To foreign research works
- To group of domestic research works
General assessment: Although above research works have
determined clearly the way of approach, subject and target of
research at different views both in argument and reality related to
model of state enterprise management, state economic group after
equitization. However, research of innovating model of state
enterprise managemetn after equitization has setted out many new
issues, new requirements in new circumstance. Overview of above
research works shows that: There is not any works that deeply
research

systematically

the

innovation

of

state

enterprise

management model after equitization and the event of Vietnam

10


National Petroleum Group in new circumstance. So, this is gap that
researcher has choosen to be research orientation in Doctor’s thesis.
1.3.2. Matters that the thesis need to focus on solving
- About method: The thesis determines, makes clear the
way of approach; using methods of research, assessment; making
clear analysis frame in researching the innovation of state
enterprise management model after equitization.
- About argument: The thesis has generalized, systematized
theoretical basis of innovating model of state enterprise management
after equitization. Specifically theoretical issues as: Concept, character,
role, content, criteria, factors affect to innovate model of state enterprise
after equitization.
- About reality:
The thesis shall make survey the experience of innovating
model of state enterprise management after equitization of some
countries, since then take the lesson of innovating model of state
enterprise management after equitization in Vietnam National
Petroleum Group.
The thesis shall make survey, analyse, assess the reality of
innovating model of state enterprise management after equitization in
Vietnam National Petroleum Group. The thesis indicates achieved
results, limits, causes of limit and indicates clearly issues setted to be
basis of determining points of view, targets and solutions to innovate
model of state enterprise management after equitization in Vietnam

National Petroleum in the next coming years.
Chapter 2

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THEORETICAL BASIS AND THE REALITY OF STATE
ENTERPRISE MANAGEMENT MODEL AFTER
EQUITIZATION
2.1. THEORETICAL ISSUES ABOUT STATE ENTERPRISE
AFTER EQUITIZATION
2.1.1. State Enterprise and state Enterprise equitization
2.1.1.1. State enterprise
2.1.1.1.1. Concept of state enterprise
2.1.1.1.2. Character of state enterprise
2.1.1.2. State Enterprise equitization
2.1.2. State Enterprise after equitization
2.1.2.1. Concept of state enterprise after equitization
2.1.2.2. Character of state enterprise after equitization
2.1.2.2.1. With character of state enterprise before equitization
2.1.2.2.2. Enterprise transforms to operate under model Joint Stock,
operate according to priciple of market mechanism
2.1.2.2.3. State shareholder
2.1.2.2.4. Employees participate in Joint Stock Company with
capacity of shareholder
2.1.2.2.5. Result and production effectiveness, busines after
equitization
2.1.2.3. Role of state enterprise after equitization
2.1.2.3.1. State enterprise after equitization is a tool for the
Government to regulate macro of economics, carry out social policy

2.1.2.3.2. State enterprise after equitization is an advantageous form
of investement of the Government

12


2.1.2.3.3. Helping the Government to restructure system of state
enterprise, to be adaptable to market economy
2.1.2.3.4. Solving difficulties about capital for production, business of
enterprise
2.1.2.3.5.

Creating

operational

mechanism,

appropriate

management, attraction of technology and high quality human
resources
2.1.3. Model of state enterprise after equitization

2.1.3.1. Concept of state enterprise management model after
equitization
- Model of state enterprise:
- Model of enterprise management:
- Innovating model of enterprise management
2.1.3.2. Role of state enterprise management after equitization

2.1.3.3. Content of state enterprise managemetn after equitization
2.1.3.3.1. Structure
- Organization chart
- Ownership structure
- Administration structure
2.1.3.3.2. Mechanism of management and supervision
- Mechanism, management machine, execution
- Mechanism, supervision machine
2.1.3.3.3. Internal interconnections
- Business relation
- Investment connection
- Financial connection
- Information Exchange connection

13


2.1.3.3.4. High quality human resources
- Capacity of leader team, managers Năng lực đội ngũ cán bộ
lãnh đạo, quản lý
- Training, re- training team
- Machanism, right of employees
2.1.3.4. Criteria, target of assessing model of state enterprise
management after equitization
2.1.3.4.1. Effectiveness of organizing state enterprise management
machine after equitization:
2.1.3.4.2. Effectiveness of state enterprise administration after equitizaiton
2.1.3.4.3. Result and effectiveness of production and business
2.1.3.4.4. Innovating, applying advance of scientific technology into

production and business
2.1.4. State management to state enterprise after equitizaiton
2.1.4.1. Role of state management to state Enterprise after
equitization
2.1.4.2. Role of the Government in being representative of state
ownership to state Enterprise and state capital in Enterprise .
2.1.5. Factors affect to the model of state Enterprise
management after equitization
2.1.5.1. Outside factors affect to model of state enterprise
management after equitization
2.1.5.1.1.

Socio

–

economy

development

and

international

integration
2.1.5.1.2. Mechanism, policy after state enterprise equitization
2.1.5.1.3. Development qualification of the market
2.1.5.2. Internal factors of state enterprise after equitization

14

2.1.5.2.1. Business strategy of state enterprise after equitizaiton
2.1.5.2.2. Resources in state enterprise after equitization
2.1.5.2.3. State Enterprise administration after equitization
2.1.5.2.4. Industry, business sectors
2.1.5.2.5. Mechanism of executing state enterprise after equitizaition
2.2. INTERNATIONAL EXPERIENCE ABOUT MODEL OF
MANAGING STATE ENTERPRISE AFTER EQUITIZATION
2.2.1. Experience of some Asean countries
2.2.1.1. Experience of China
2.2.1.1.1. Character of state enterprise equitization of China
2.2.1.1.2. Measures of state enterprise innovation during process of
enterprise equitization in China
2.2.1.2. Experience of Korea
2.2.1.2.1. Character of state enterprise equitization of Korea
2.2.1.2.2. Measures of state enterprise innovation during process of
equitication in Korea
2.2.1.3. Experience of Singapore
2.2.1.3.1. Character of state enterprise equitization of Singapore
2.2.1.3.2. Measures of state enterprise innovation during process of
enterprise equitization in Singapore
2.2.1.4. Experience of Japan
2.2.1.4.1. Character of state enterprise equitization of Japan
2.2.1.4.2. Measures of state enterprise innovation during process of
enterprise equitization in Japan
2.2.2. Experience of some European countries (OECD members)
2.2.2.1. Experience of England
2.2.2.2. Experience of France

15


2.2.2.3. Experience of Netherlands
2.2.3. Experience applying to Vietnam National Petroleum Group
- About organization structrure
- About mechanism of management and supervision
- About internal interconnections
- About human resources, policy to employees
Chapter 3
THE REALITY OF STATE ENTERPRISE MANAGEMENT
MODEL AFTER EQUITIZATION IN VIETNAM NATIONAL
PETROLEUM GROUP
3.1. MANAGEMENT MODEL OF VIETNAM NATIONAL
PETROLEUM BEFORE EQUITIZATION
3.1.1. Overview about Vietnam National Petroleum Group before
equitization
3.1.1.1. Process of establishing and developing

3.1.1.2. Character of organization and operation of Vietnam National
Petroleum Group
- About model
- About organization chart
- About ownership and duty

3.1.1.3. Result of operation, business before equitization
3.1.2. Process of equitizing state Enterprise in Vietnam National
Petroleum Group
3.1.2.1. Process of equitization
3.1.2.2. Result of operation and business

16


3.2. THE REALITY OF STATE ENTERPRISE MANAGEMENT
MODEL AFTER EQUITIZATION IN VIETNAM NATIONAL
PETROLEUM GROUP
3.2.1. Structure
3.2.1.1. Organization chart
3.2.1.2. Ownership structure
3.2.1.3. Administration structure
3.2.2. Mechanism, machine of management and supervision
3.2.2.1. Mechanism, machine of management, execution
3.2.2.2. Mechanism, supervision machine
3.2.3. Internal interconnections
3.2.3.1. Business relation
3.2.3.2. Investment connection
3.2.3.3. Financial connection
3.2.3.4. Information exchange connection
3.2.4. Human resources
3.2.4.1. Standard of leader and manager team
3.2.4.2. Training, retraining team
3.2.4.3. Mechanism, right of employees
3.3. SURVEY RESULT OF INNOVATING MODEL OF STATE
ENTERPRISE MANAGEMENT AFTER EQUITIZATION IN
VIETNAM NATIONAL PETROLEUM GROUP
In order to research the reality of innovating model of state
enterprise management after equitization in Vietnam National
Petroleum Group, the author has sent the survey “Innovation of state
enterprise management model after equitization” to Vietnam National

Petroleum Group. The result collected 177/200 legal answers

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3.4. COMMON ASSESSMENT ABOUT STATE ENTERPRISE
MANAGEMENT

MODEL

AFTER

EQUITIZAITON

IN

VIETNAM NATIONAL PETROLEUM GROUP
3.4.1. The achievements

3.4.1.1. The situation of operation and business after equitization
3.4.1.2. Innovating mechanism of management and executive
machine
3.4.1.3. State management to Petrolimex after equitization
3.4.2. Limit and causes of limit
3.4.2.1. Limit
- About organization, management of Vietnam National
Petroleum Group
- About management effectiveness of Parent Company to
Subsidiary, inspection, supervision of state ownership to Group is not
effective

- About model of operation and business
- About state management to Petrolimex
3.4.2.2. Causes
3.4.2.2.1. Causes from institutions
3.4.2.2.2. Internal causes within Group
Chapter 4
SOLUTION OF INNOVATING MODEL OF STATE
ENTERPRISE MANAGEMENT AFTER EQUITIZATION IN
VIETNAM NATIONAL PETROLEUM GROUP
4.1. CIRCUMSTANCE AFFECTS TO INNOVATION OF
STATE ENTERPRISE MANAGEMENT MODEL AFTER

18


EQUITIZATION IN VIETNAM NATIONAL PETROLEUM
GROUP
4.1.1. Backgroun
4.1.1.1. International background
4.1.1.2. Domestic background
4.1.2. Advantage, difficulty, chance and challenge to the innovation of
state Enterprise management model after equitization in Vietnam
National Group
4.1.2.1. Advantage
4.1.2.2. Difficulty
4.1.2.3. Chance
4.1.2.4. Challenge
4.1.3. Requirement of keeping innovation of state Enterprise
management model after equitization in Vietnam National
Petroleum Group

4.2. POINTS OF VIEW, ORIENTATION

OF INNOVATING

MODEL OF STATE ENTERPRISE MANAGEMENT AFTER
EQUITIZATION IN VIETNAM NATIONAL PETROLEUM
GROUP
4.2.1. Point of view
- Innovating model of state enterprise management in
Vietnam National Petroleum Group must assure state capital
resource without leakage after equitization
- Innovating model of state enterprise management in
Vietnam National Petroleum Group after equitization must keep the
role of regulating the relationship between State enterprise
equitization with individualizaiton

19


- Innovating model of administration in Vietnam National
Petroleum

Group

must

follow

modernization

and

improve

effectiveness of operation
- Innovating management model of Vietnam National
Petroleum Group must use flexibly forms of financial restructure
which are appropriate with nature, character of enterprise’s operation.
4.2.2. Orientation, target
4.3. SOLUTION OF INNOVATING MODEL OF STATE
ENTERPRISE MANAGEMENT AFTER EQUITIZATION IN
VIETNAM NATIONAL PETROLEUM GROUP
4.3.1. Group of macro management measures
4.3.1.1. Completing system of policy, laws
4.3.1.2. Promoting right of business autonomy of state enterprise
after equitization
4.3.1.3. Strenthening the innovation of capital management
mechanism and mechanism of state capital representative in state
enterprise after equitization
4.3.1.4. Improving capacity of supervising finance of the State to
state enterprise after equitization
4.3.1.5. Changing support way of the state to state enterprise after
equitization
4.3.2. Specific group of solutions of Enterprise
4.3.2.1. Innovating model of organization chart
4.3.2.2. Innovating mechanism of management and supervision
4.3.2.3. Completing machine of management and execution
4.3.2.4. Developing internal interconnnections
- Business relation

20


- Finance and investment connection relation
- Information connection relation
- Building culture of the Group
4.3.2.5. Building and developing high quality human resources
4.4. RECOMMENDATION
To state authorities (Government, Ministry of Industry and
Trade, Committee of capital management at State Enterprises):
CONCLUSION
Equitizing Enterprise is a right advocate of the Government
to create the autonomy for enterprises, huge motivation for
enterprises. Simultaneously, this is important solution in the process
of innovation, enterprise re – arrangement to contribute the assurance
and strengthen effectiveness in operation of state enterprises; helping
capital mobilization from total society to invest into innovating
technology, changing method of management, improving the
competition to grow economy; helping reduce outflow of state budge,
increasing more capital from equitization for the Government;
solving the existence and ineffective operation of state enterprises
which are obstructing for the process of developing market economy
and international economic integration.
Innovating model of state Enterprise management after
equitization is objectively necessary in the current background.
However, how does the innovating model of state Enterprise
management after equitization understand, up to now, there are many
arguments, this proves the complication and abundancy of research

21

title. In the process of researching the title “Model of state Enterprise
management after equitization: Researching the event of Vietnam
National Petroleum Group”, the author has sharply analysed under
view of argument and reality about innovating model of state
Enterprise management after equitization in general and in
Petrolimex in particular. On the basis of subject and research duties
setted out, the thesis has solved below basic matters as:
1. The thesis has made clearly the concepts about the state
enterprise, the state enterprise equitization, to sharply analyses the
contents related to state enterprise after equitization as: concept,
character, role of state Enterprise after equitization; making clear the
concept of state enterprise management model after equitization
thoroughly to analyze sharply about argument of role, contents,
targets, criteria of assessment as well as analysis of elements affected
to model of state enterprise management after equitization; making
clear the role of state management to state enteprprise after
equitization.
2. The thesis has analyzed experience of some Asean
countries and Europe about model of state enterprise management
after equitization, and take the lesson for innovating model of state
enterprise management after equitization in Vietnam National
Petroleum Group.
3. Via research, the thesis has made clear managment model
of

Vietnam National Petroleum Group before

equitization.

Specifically, the thesis has generalized process of establishment,
character of operation, result of operation and business before

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