Equitisation of State-owned enterprises remains sluggish
The progress of equitisation of SOEs in the first six months of this year was slower than the same time last year with only 19 SOEs receiving approval for their equitisation plan by mid-June.
Deputy Head of the Corporate Finance Department Dang Quyet Tien at the press conference. The progress of equitisation of SOEs remains slow in the first six months of the year. (Photo: VNA)
Hanoi (VNA) – The progress of equitisation of State-owned enterprises(SOEs) in the first six months of this year was slower than the same time lastyear with only 19 SOEs receiving approval for their equitisation plan bymid-June.
At a press conference on the issue held in Hanoi on June 29, Deputy Head of theCorporate Finance Department under the Ministry of Finance Dang Quyet Tien saidthe Vietnam Southern Food Corporation Limited (Vinafood 2) and the VietnamRubber Group are among those which need to speed up equitisation.
Theofficial attributed the delay to the hesitation and lack of drastic measures onthe side of the firms’ management as well as the market’s low absorptioncapacity.
Divestment activity was also ponderous. Report from the Ministry of Financeshowed that state-owned groups and corporations divested a total 3.4 trillionVND (149.5 million USD) from non-core business areas and recovered 14.8trillion VND (651 million USD). However, over 11 trillion VND (483.8 million USD)of which was collected from selling shares of Vinamilk.
Regarding the draft amendments to Decree No.91/2015/ND-CP on the investment of Statecapital in enterprises and the management and use of capital and assets inenterprise, the Finance Ministry said one of the changes will deal with principlesfor the transfer of State capital and SOEs’ capital invested in other businesses.
Newregulations will be added on the determination of the initial prices whentransferring State capital and SOEs’ capital invested in other businessesrelated to land use right.-VNA
All relevant agencies have been ordered to publicise 578 equitised State-owned enterprises (SOEs) not listed on the stock market as of December 31, 2016.
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Deputy Head of the Corporate Finance Department Dang Quyet Tien at the press conference. The progress of equitisation of SOEs remains slow in the first six months of the year. (Photo: VNA) 
