Transport ministry sets sights on business equitisation
The Ministry of Transport will accelerate equitisation of transport corporations this year, an official from the ministry said in a recent interview.
Hanoi (VNA) — The Ministry of Transport will accelerate equitisation of transport corporations this year, an official from the ministry said in a recent interview.
Enterprise Management Department Director Vu Anh Minh told Giao thong, a newspaper of the ministry, that the key targeted businesses include Vietnam National Shipping Lines (Vinalines), Shipbuilding Industry Corporation (SBIC), and the Vietnam Expressway Corporation.
Nam Thang Long Transport Hospital, and Cuu Long Corporation for Investment Development and Project Management of Infrastructure are also among the list.
The equitisation of these firms began last year, but has not yet been completed. The delay in Vinalines and SBIC cases were particularly attributed to obstacles related to their capital and debt settlement.
This year, the ministry also plans to equitise Academy of Aviation, Thang Long Vocational Training School, and two transport hospitals in Vinh and Da Nang central cities.
A registration centre of the Vietnam Register and five technical centres of the Directorate for Roads of Vietnam are also up for equitisation in 2016.
"The sooner enterprises get off ‘their parents' nourishment', the more experience and resources they will gain to better adapt to market developments," Minh said. "This is especially meaningful when we are integrated more deeply into the global economy."
Minh said that the one important thing to accelerate the equitisation process and improve competitiveness and efficiency of the companies is to seek strategic investors who are truly capable.
The authorities have been cautious about looking for investors with adequate ability in terms of management, market, technology and finance, he said.
Minh said the ministry will not equitise four of its corporations, which serve the public. They are Vietnam Maritime Safety – North, Vietnam Maritime Safety – South, Vietnam Air Traffic Management Corporation and Vietnam Railway (VNR).
The ministry will maintain controlling stakes in national flag carrier Vietnam Airlines and the Airports Corporation of Vietnam, which is managing 22 airports nationwide.
It will withdraw state capital from all other corporations in the long run.
In January, Minh told the Vietnam News Agency that the ministry planned to complete capital withdrawal from Vietnam Motor Industry Corporation, Transport Engineering Design Inc, Civil Engineering Construction Corporation No 5 (Cienco 5), Cienco 6 and Cienco 8 this year.
It will also step up divestments in a number of its seaports and VNR affiliates in 2016.
Between 2011 and 2015, 137 businesses in the transport sector went public, 67 more than the target that the ministry set for the period, according to Deputy Minister of Transport Nguyen Hong Truong.-VNA
Enterprise Management Department Director Vu Anh Minh told Giao thong, a newspaper of the ministry, that the key targeted businesses include Vietnam National Shipping Lines (Vinalines), Shipbuilding Industry Corporation (SBIC), and the Vietnam Expressway Corporation.
Nam Thang Long Transport Hospital, and Cuu Long Corporation for Investment Development and Project Management of Infrastructure are also among the list.
The equitisation of these firms began last year, but has not yet been completed. The delay in Vinalines and SBIC cases were particularly attributed to obstacles related to their capital and debt settlement.
This year, the ministry also plans to equitise Academy of Aviation, Thang Long Vocational Training School, and two transport hospitals in Vinh and Da Nang central cities.
A registration centre of the Vietnam Register and five technical centres of the Directorate for Roads of Vietnam are also up for equitisation in 2016.
"The sooner enterprises get off ‘their parents' nourishment', the more experience and resources they will gain to better adapt to market developments," Minh said. "This is especially meaningful when we are integrated more deeply into the global economy."
Minh said that the one important thing to accelerate the equitisation process and improve competitiveness and efficiency of the companies is to seek strategic investors who are truly capable.
The authorities have been cautious about looking for investors with adequate ability in terms of management, market, technology and finance, he said.
Minh said the ministry will not equitise four of its corporations, which serve the public. They are Vietnam Maritime Safety – North, Vietnam Maritime Safety – South, Vietnam Air Traffic Management Corporation and Vietnam Railway (VNR).
The ministry will maintain controlling stakes in national flag carrier Vietnam Airlines and the Airports Corporation of Vietnam, which is managing 22 airports nationwide.
It will withdraw state capital from all other corporations in the long run.
In January, Minh told the Vietnam News Agency that the ministry planned to complete capital withdrawal from Vietnam Motor Industry Corporation, Transport Engineering Design Inc, Civil Engineering Construction Corporation No 5 (Cienco 5), Cienco 6 and Cienco 8 this year.
It will also step up divestments in a number of its seaports and VNR affiliates in 2016.
Between 2011 and 2015, 137 businesses in the transport sector went public, 67 more than the target that the ministry set for the period, according to Deputy Minister of Transport Nguyen Hong Truong.-VNA
You should also see
Top 500 fastest growing enterprises 2024 announced
A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 25.
See more
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
Business
Airlines requested to increase flights during upcoming holiday
The Civil Aviation Authority of Vietnam (CAAV) has asked Vietnam's airlines to consider increasing the number of flights from Hanoi and HCM City to localities on April 27, and from localities back to Hanoi and HCM City on May 1 to meet the demand for air transportation during the April 30 - May 1 holidays.
Business
Tra fish export to UAE jumps 67% in Q1
Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, according to statistics of the General Department of Customs.
Business
Vietnam seeks to remove obstacles in upgrade of securities market
The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Business
Ca Mau: Conference connects Vietnamese, Chinese firms
A networking conference was held in the Mekong Delta province of Ca Mau on April 24, in a bid to connect 54 local enterprises, mostly operating in the seafood sector, to their Chinese peers.
