HCM City (VNA) – Many State-owned public utilitycompanies in Ho Chi Minh City are set to be equitised in 2019.
The office of the municipal People’s Committeesaid on August 2 that the committee had assigned the city’s board forState-owned enterprise (SOE) management reform to perfect the plan for SOEre-organisation and reform in the 2018-2020 period.
Accordingly, the businesses subject toequitisation next year are the public service companies of the districts of 7,8, 9, Binh Thanh, Go Vap and Nha Be, along with the Liksin Industry – Printing– Packaging Corporation and the Saigon Jewellery Co. Ltd.
Meanwhile, the HCM City Irrigation ManagementCompany has been included in the list of firms the city asked the Government toexclude from equitisation.
At the proposal of the board for SOE managementreform, the municipal People’s Committee also agreed to keep 100 percent ofState capital at the Saigon Water Corporation.
The southern city is accelerating procedures andapproval of plans on equitisation and divestment of State capital from 39businesses.
The board attributed the slow equitisation paceto the fact that HCM City is the biggest city of Vietnam, so equitisation anddivestment need to be conducted carefully and take into account long-termdevelopment orientations.
It added that the businesses had completed asset assessmentpending approval of equitisation plans, and once receiving approval, theyexpected to complete equitisation within 2018 and 2019. –VNA
2018 is hoped to see a strong wave of equitisation of State-owned enterprises (or SOE). However, the first half of the year is yet to see as strong movement as expected.
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A view of Ho Chi Minh City (Photo: VNA) 
