Ministry to step up SOEs restructuring, equitisation in 2019
The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market.
Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Industry and Trade
has announced that its Department of Finance and Enterprise Innovation will
step up the restructuring and equitisation of State-owned enterprises (SOEs), together
with listing them on the stock market.
The ministry will also publicise equitised SOEs which are eligible and yet to register for listing and consider the responsibility of their leaders.
Deputy Minister of Industry and Trade Hoang Quoc Vuong said the ministry restructured the Electricity of Vietnam (EVN), the Vietnam National Coal – Mineral Industries Holding Corporation (Vinacomin) and the Vietnam National Chemical Group in 2018, and approved a list of businesses under the Vietnam National Oil and Gas Group (PetroVietnam) subject to equitisation and divestment for the 2017-2020 period.
The ministry also directed the EVN and PetroVietnam to successfully conduct their equitisation and switch Binh Son Refining and Petrochemical (BSR), the PetroVietnam Power Corporation (PVPOWER), the PetroVietnam Oil Corporation (PVOIL), the Power Generation Joint Stock Corporation 3 (EVENGENCO 3) into joint stock companies.
It is also hastening divestment from the Vietnam Engine and Agricultural Machinery Corporation (VEAM), the Machines and Industrial Equipment Corporation (MIE), the Vietnam National Petroleum Group (Petrolimex) and the Hanoi Alcohol Beer and Beverage Company (Habeco) as directed by the Prime Minister.
Procedures are being processed to transfer six businesses to the Commission for the Management of State Capital at Enterprises-VNA
The ministry will also publicise equitised SOEs which are eligible and yet to register for listing and consider the responsibility of their leaders.
Deputy Minister of Industry and Trade Hoang Quoc Vuong said the ministry restructured the Electricity of Vietnam (EVN), the Vietnam National Coal – Mineral Industries Holding Corporation (Vinacomin) and the Vietnam National Chemical Group in 2018, and approved a list of businesses under the Vietnam National Oil and Gas Group (PetroVietnam) subject to equitisation and divestment for the 2017-2020 period.
The ministry also directed the EVN and PetroVietnam to successfully conduct their equitisation and switch Binh Son Refining and Petrochemical (BSR), the PetroVietnam Power Corporation (PVPOWER), the PetroVietnam Oil Corporation (PVOIL), the Power Generation Joint Stock Corporation 3 (EVENGENCO 3) into joint stock companies.
It is also hastening divestment from the Vietnam Engine and Agricultural Machinery Corporation (VEAM), the Machines and Industrial Equipment Corporation (MIE), the Vietnam National Petroleum Group (Petrolimex) and the Hanoi Alcohol Beer and Beverage Company (Habeco) as directed by the Prime Minister.
Procedures are being processed to transfer six businesses to the Commission for the Management of State Capital at Enterprises-VNA
You should also see
PM urges village elders, citizens to help preserve cultural heritage
Prime Minister Pham Minh Chinh has asked village elders and chiefs, skilled artisans and reputable citizens to make greater efforts to preserve and promote tangible and intangible cultural heritage, which is the quintessence and core value of the nation.
See more
Videos
Foreign investment driven towards new breakthrough phase
Vietnam has so far drawn nearly 500 billion USD in registered FDI capital after nearly four decades of opening up its economy, with investment quality improvement considered a key task for a new breakthrough phase ahead.
Business
Quang Ninh attracts additional 115 million USD from Japan investors
The Quang Ninh Economic Zone Authority (QEZA) presented investment certificates to two Japanese projects worth 115 million USD in total at a conference held at Song Khoai Industrial Park (IP) on April 19.
Business
Central bank plans to auction gold bars on April 22
The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Business
Hanoi to host Vietnam Medipharm Expo 2024
The 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medipharm Expo 2024) is scheduled to take place in Hanoi from May 9 to 12, an official of the Ministry of Health (MoH) told a press conference on April 19.
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
