Deputy PM chairs meeting on SOEs restructuring

Tuesday, 2017-07-11 15:34:09
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Deputy PM Vuong Dinh Hue speaks at the meeting.
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NDO/VNA – Deputy Prime Minister Vuong Dinh Hue chaired a meeting in Hanoi on July 11 to review the restructuring of State-owned enterprises (SOEs) in the first half of the year and to launch tasks for the remaining months of this year.

Speaking at the event, Hue, who is also head of the Steering Committee on Corporate Renovation and Development, hailed the ministries, agencies and localities for improving openness and transparency in their efforts.

However, he also admitted that SOEs equitisation still encounters difficulties regarding land pricing and the responsibilities of State asset managers.

He made it clear that the government will consider the responsibility of leaders who are yet to fulfill tasks involving SOEs equitisation and divestment.

The Deputy PM asked the ministries and agencies concerned to amend and supplement Decree 59/2011.ND-CP on converting SOEs into stock companies. In July, the Ministry of Planning and Investment (MoPI) was assigned to make a list of SOEs which will conduct divestment from 2017-2020.

The MoPI and Finance Ministry must also amend and supplement Decree 91/2015/ND-CP on pouring State investment into businesses and the use and management of corporate assets and capital.

Deputy Chairman of the Government Office and deputy head of the steering committee Le Manh Ha said that six out of 137 SOEs have so far completed equitisation for the 2017-2020 period.

As of the second quarter, 22 SOEs sold State capital worth over VND11.59 trillion (US$503.8 million), or 314.11 percent compared to the same period last year. Up to 11 out of 12 SOEs have been listed.

The Finance Ministry reported that 730 firms, under 84 corporations, 17 ministries and 53 localities are yet to apply for listing or to be listed on the stock exchange.

The PM has approved a scheme on improving the efficiency of agro-forestry enterprises in 40 localities, a ministry, a corporation and four State companies for the 2016-2020 period.

Deputy Minister of Industry and Trade Do Thang Hai said the ministry’s major business is to devise equitisation plans to submit to the PM for approval.