A view of Vietnam Feature Film (VFS) studio (Photo: news.zing.vn) Hanoi (VNA) - Deputy Prime Minister Truong Hoa Binh has directed theGovernment inspectorate to begin a two-month inspection of the privatisationprocess of State-owned Vietnam Feature Film (VFS) studio.
The results of theinspection must be reported to the Government before December 1.
The request was madeafter the Government received petitions from employees of the Vietnam FeatureFilm Development and Investment JSC - the name of the studio post-equitisation - and from the Vietnam CinemaAssociation about VFS’s problematic equitisation process.
Equitisation of VFS was completed inJune this year, with 20 percent of its stake being held by the state, 65 percentby investor Waterway Transport Corporation JSC (VIVASO), five percent by itsemployees and the remaining 15 percent by other investors.
However, just over two months sinceequitisation, many employees complained they had only received part of theirsalaries or had not yet been paid.
They also claimed that their officesand studios had been leased to shops and businesses and were worried that thenew management board, which was focusing on exploiting the company’s propertyinstead of making films, would kill the company.
Previously, on September 21, DeputyPrime Minister Vu Duc Dam held a meeting with leaders of the Ministry ofCulture, Sports and Tourism and representatives of the Vietnam CinemaAssociation, Waterway Transport Corporation JSC (VIVASO) and VFS to discuss theissue.
Dam said it was necessary to make theequitisation process transparent, adding that he would report thesituation to the Prime Minister and ask him on whether to investigate theequitisation process at the studio.
TheVietnam Feature Film Studio was established in 1953 and has produced some 400featured films and documentaries.
In2010, the Ministry of Culture, Sports and Tourism approved the plan to equitisethe studio.-VNA
VNA
