Illustrative image (Source: VNA)
Hanoi (VNA) – The renovation and development of State-owned enterprises in 2017 and beyond should be accelerated in a more practical manner, focusing on essential fields such as defence and security.

Deputy Prime Minister Vuong Dinh Hue made the statement at a recent meeting of the Steering Committee for Business Renovation and Development in Hanoi.
He requested ministries, localities, economic groups and State companies to continue implementing resolutions of the Party, Politburo, and National Assembly as well as directions of the Government and the Prime Minister on State-run firms.

The Deputy PM urged them to revise, supplement and finalise legal documents on equitisation and sale of State capital, while speeding up equitisation and avoiding capital losses.

He called on businesses with poor performance to be dealt with strictly according to Resolution No.5/NQ-TW issued at the fourth plenum of the 12th Party Central Committee in November 2016.

In the future, it will be necessary to finalise measures to handle weak Ministry of Industry and Trade businesses, he said.

The Steering Committee for Business Renovation and Development is responsible for inspecting the arrangement, renovation and development of State business operations, he added.

The Deputy PM asked the Ministry of Planning and Investment to coordinate with the Ministry of Finance and Ministry of Justice to ensure investors implement legal documents on transferring capital without compensation in business contracts, and report to the Prime Minister before May 10, 2017.

The steering committee will work with the Government Office and relevant agencies to prepare for a meeting between the Prime Minister and business community.

Though 96.5 percent of State-owned Enterprises (SOEs) have been equitised so far, only eight percent of State capital has been sold.

In the first quarter of 2017, the country equitised eight SOEs.

As of March 25, ten SOEs with combined book value of 71.8 billion VND (3.14 million USD) were equitised, earning the State 72.8 billion VND.-VNA