Equitisation of State-run enterprises remains slow: finance ministry
The equitisation of State-owned businesses from 2016-2019 fell behind schedule, putting heavier pressure on this year, according to the Ministry of Finance.
Hanoi (VNA) – The equitisation of State-owned businesses from 2016-2019 fellbehind schedule, putting heavier pressure on this year, according to theMinistry of Finance.
From 2016 to March 2020,174 enterprises received approval for their equitisation plans. Thoseenterprises have total value of over 443.1 trillion VND (18.9 billion USD),nearly half of which is state capital.
A further 92 businesses need to be equitised by the end of 2020, but none wereable to do so in March.
Regarding divestment, 397 billion VND (16.9million USD) worth of State stake was sold in March, bringing in 772 billionVND (32.9 million USD) for the State coffer in the first three months of thisyear.
The finance ministry said a large number ofbusinesses need to implement equitisation and divestment in 2020.
Besides, the impact of COVID-19 has made thestock market decline and delayed business production, seriously affecting thedomestic and global economies.
To realize the target for 2016-2020, theministry suggested improvements to institutional and legal frameworks on the managementand operation of State enterprises./.
The successful equitisation and capital divestment of State-owned enterprises (SOEs) would create benefits that boosted the stock market and business performance, experts have said.
As issues related to land use rights still hinder State-owned enterprises (SOEs) from executing equitisation on time, the finance ministry has built a draft to amend the current decree regulating land issues.
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Illustrative image (Source: VNA) 
