Paper production at the Vietnam Paper Corporation. (Source: baocongthuong)

A large number of enterprises were active in equitisation in the first three quarters of this year in accordance with guidance from the Ministry of Industry and Trade (MoIT), but efforts related to asset valuations have yet to meet the set plans.

According to the ministry, four companies have completed asset valuations so far this year, including the Vietnam Engine and Agricultural Machinery Corporation, the Vietnam Paper Corporation, the Electric and Investment One Member Company Limited, and the Construction and Building Material No. 5 One Member Company.

The ministry is striving to add another business to the list of equitised enterprises in October.

The Vietnam Engine and Agricultural Machinery Corporation has accomplished its ongoing equitisation plan and submitted it to the MoIT for approval. The firm plans to finalise its equitisation and organise its IPO in 2015.

Meanwhile, the Vietnam Paper Corporation completed its audited financial statement through December 31, 2015. The company is expected to equitise this year.

In the first nine months of this year, the Vietnam National Oil and Gas Group (PetroVietnam) divested from three units, collecting nearly 272 billion VND (12.1 million USD).

Meanwhile, the Vietnam National Chemical Group (Vinachem) and the Vietnam Coal and Mineral Industries Group (Vinacomin) withdrew 161 billion VND (7.16 million USD) and 104 billion VND (4.63 million USD) from their investments, respectively, in the period.

The MoIT added that it worked with the management board of the State Capital and Investment Corporation (SCIC) to discuss roadmaps and plans to hand over equitised enterprises to the SCIC in line with the Prime Minister’s directions.-VNA