Deputy Prime Minister Vuong Dinh Hue called for speeding up the equitisation of State-owned enterprises (SOEs) at a recent meeting of the Steering Committee for Business Renovation and Development.
Cement bags produced by the Vietnam Cement Industry Corporation. (Source: VNA)
Hanoi (VNA) - Deputy Prime Minister Vuong Dinh Hue called forspeeding up the equitisation of State-owned enterprises (SOEs) at a recent meetingof the Steering Committee for Business Renovation and Development. Hue asked relevant ministries to finalise the regulations describing therights and obligations of State ownership representatives in order to boost SOEprivatisation. He also asked them to submit reports on the results of SOErestructuring in 2017 to the Government. Statistics of the Steering Committee for Business Renovation and Developmentshowed that 21 SOEs were equitised between January and November, collecting atotal of more than 2.2 trillion VND (97 million USD). If enterprises under the Ministry of National Defence were included, 43 SOEswere privatised in the 11-month period. As many as 55 SOEs were scheduled to beequitised this year, equivalent to the number of equitised enterpries in 2016. Four SOEs were allowed to delay their privatisation to 2018, which are theHousing and Urban Development Corporation, Vietnam Cement Industry Corporation,Khanh Viet Corporation and Vietnam Television Cable Corporation. State capital divestments from January to November collected 25 trillion VND,20 trillion VND of which came from capital withdrawal from national dairy firmVinamilk. After liabilities, the divestments were worth more than 5.2 trillion VNDin book value. In the remaining months of this year, the State expected to collect around 10trillion VND from equitisation efforts. These include the initial publicofferings of Song Da Corporation and Becamex Binh Duong and the sale of theState stakes at IDICO and Thanh Le Binh Duong to strategic investors, as wellas the divestment from Sabeco. Hue also asked relevant ministries and agencies to hasten the restructuringand renovation of SOEs in 2016-20 period. On November 22, the Government issuedResolution No 121/NQ-CP to address difficulties facing SOE privatisation andspeed up the progress.-VNA
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Cement bags produced by the Vietnam Cement Industry Corporation. (Source: VNA) 
