Illustrative photo (Photo: VNA) Hanoi (VNA) – The Ministry of Construction said that speeding up the equitisationof and divestment of State capital from its State-owned businesses is one ofthe main focuses of the sector in 2018.
In the first two quarters of this year, the ministry completed the equitisationof the Song Da Corporation and the Vietnam Urban and Industrial Zone DevelopmentInvestment (IDICO), turning them into joint stock companies.
Accordingly, over 4.6 trillion VND (197.4 million USD) was collected from theequitisation of the two businesses, with 4.08 trillion VND of which paid to theState budget.
At the same time, the ministry also finished State capital divestment at theBach Dang Construction Corporation, paying 538 billion VND to the State budget.
Meanwhile, divestment plans have been made for remaining corporations includingViglacera, Vietnam National Construction Consultants Corporation (VNCC), theHanoi Construction Corporation (Hancorp), FiCO Corporation, Vietnam MachineryInstallation Corporation (Lilama), Construction Corporation No. 1 (CC1),Vietnam Water and Environment Investment Corporation (Viwaseen), Construction MachineryCorporation (COMA) and Song Hong Construction Corporation.
ThePrime Minister had asked for the divestment of 135 SOEs in 2017 and 181 in2018. However, only five companies completed the work in the first six monthsof 2018, bringing the total enterprises to have divested to 16 so far.
The reason for this slow progress wasineffective implementation of the PM’s directions, while problems in finance,land and labourers also hindered the work.
At the same time, despite the issuance ofsolutions for the problems, the implementation of the solutions remainedinefficient, especially in land-related issues.
To promote the process ofequitisation, divestment and restructuring of SOEs, in the rest of the year,agencies should review relevant laws such as the Law on Enterprises, the Law onManagement and Use of State Capital Invested in Production and Business atEnterprises, the Law on Public Servants and the Law on Bankruptcy.
Meanwhile, ministries and sectorsshould design mechanisms and policies to submit to the Government and PrimeMinister, including a decree on operations of SOEs, a decree on the rights andresponsibilities of State capital owner representatives, and another on theproduction and supply of public products and services.-VNA
VNA
