Ba Ria-Vung Tau province pushes equitisation of SOEs
Vice Chairman of the People’s Committee of the southern coastal province of Ba Ria-Vung Tau Nguyen Thanh Long has urged relevant agencies to supervise the restructuring of State-owned enterprises.
BaRia – Vung Tau (VNA) – Vice Chairman of the People’s Committee ofthe southern coastal province of Ba Ria-Vung Tau Nguyen Thanh Long has urgedrelevant agencies to supervise the restructuring of State-owned enterprises(SOEs).
Ata working session on September 26, Long asked the provincial Department ofFinance (DoF) to continue advising the committee on the divestment schedule forlocal SOEs and to supervise State capital at these firms. | Theprovincial Department of Natural Resources and Environment will ensure theeffective use of SOEs’ land while the provincial Department of Agriculture andRural Development will be responsible for restructuring the provincial ForestryOne-Member Co. LTd. into a two-member company.
Accordingto the DoF’s report, from 2014 – 2016, there were 22 SOEs and State-investedfirms in the province. Of which, the State owned 100 percent of the chartercapital of three, 50 percent of nine, and below 50 percent of 10.
Thosein public services, such as lottery, water supply and sewage, tree caring,transport operated stably while those in estate, tourism, trade, forestry wereless effective.
From2016 – 2020, the province is planning to equitise and divest state capital from17 SOEs. One of which has 50 percent of its charter capital held by the State,15 others are below 50 percent, and one will be restructured to a two-membercompany.
Duringthe 2002 – 2016 period, 38 SOEs in the province were equitised, garnering 862 billionVND (37.92 million USD) for the State Capital Investment Corporation(SCIC).-VNA
State-owned enterprises divested more than 3.7 trillion VND (163.4 million USD) in book value from investment in non-core operations during the first 8 months of 2017.
Equitisation of State owned enterprises has progressed well in 2011-2016 and the first eight months of 2017 thanks to various ministries and sectors, economic groups and localities getting onboard.
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According to the Economic Committee of the National Assembly, 33 SOEs have their equitisation plans approved in the first eight months of 2017, with total real value put at 80,600 billion VND.
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Illustrative image (Source: VNA) 
