Loss-making projects unable to revive must be dissolved: Deputy PM hinh anh 1Permanent Deputy Prime Minister Truong Hoa Binh speaks at the meeting on April 3 (Photo: VNA)

Hanoi (VNA) – Loss-making projects that are unable to revive must be dissolved, Permanent Deputy Prime Minister Truong Hoa Binh said at the 9th meeting of the steering committee for dealing with some poor-performing projects and businesses of the industry and trade sector held in Hanoi on April 3.

The Committee for Management of State Capital at Enterprises (CMSC) reported that among the six projects that have been operating but suffered losses in the past, two recorded profits in 2018 and 2019, namely DAP-1 Hai Phong fertiliser plant and Viet Trung Metallurgy and Mineral Co. Ltd.

The four others have gradually addressed their difficulties and reduced losses, namely Ha Bac Nitrogenous Fertilizer and Chemicals Co. Ltd, Ninh Binh Nitrogenous Fertilizer and Chemicals Co. Ltd, DAP-2 Lao Cai fertiliser plant, and Dung Quat Shipyard.

Among the three projects that were suspended, Dinh Vu polyester fibre plant project has resumed operations, while the two others are now eligible for resuming activities but have not due to market difficulties, namely Quang Ngai and Binh Phuoc bio-fuel plant projects.

The CMSC said the 12 major ailing projects and businesses were inspected, seven of them were audited, while four were investigated and prosecuted. As a result, organisations and individuals who committed violations have been strictly handled.

At the meeting, Deputy PM Binh, who is head of the steering committee for dealing with the weak projects and businesses, noted there is not much time left to complete the settlement of those 12 projects and firms as requested by the Politburo and the PM, pointing out that the tasks needed to be done in 2020 are all hard ones left over from the previous years.

He asked the CMSC to promote and monitor State-owned enterprises’ clarification of responsibility so as to thoroughly remove obstacles to those tasks this year.

The settlement of those loss-making projects and firms must ensure that the State won’t have to continue shouldering their debts, Binh said, noting that those able to develop should be removed from the list of poor-performing projects, while relevant parties should seek partners to operate those needing to form joint ventures, be sold or lease assets.

Meanwhile, loss-making projects must be dissolved to prevent prolonged losses, the Deputy PM stressed./.