Hanoi (VNA) — The State will hold 50 percent of thecharter capital of power production companies with minimum capacity of500MW instead of 100MW in accordance with the new requirements.
Thisis one of the regulations stated in Decision 14/2011/QD-TTg that wassigned by Prime Minister Nguyen Tan Dung, which stipulates the ratio ofcharter capital that the State will hold in State-owned enterprises(SOEs).
Under the decision, the State will hold 100 percent ofcharter capital in enterprises operating in sectors involving nationaldefence and security and in military/economic enterprises that arelocated in strategic and/or remote areas. The State will also hold 100percent of charter capital in enterprises managing infrastructuresystems such as the national railways, urban areas, airports, importantand large-scale seaports and television stations.
Dung askedministries, ministerial-level agencies, People's Committees of provincesand centrally-governed cities, economic corporations and groups set upunder the PM's decisions to continue classifying and re-arranging theirone-member limited liability companies, before reporting to the PrimeMinister for approval.
The decision will become effective on April 20.
PhamDuc Trung, deputy head of the Enterprise Committee under the CentralInstitute for Economic Management, said State-owned groups andcorporations would be more active in selecting affiliates which would beequitised.
However, it also puts pressure on the groups andcorporations because these enterprises are required to complete andsubmit their plans concerning corporate renewal and equitisation to thePrime Minister for approval during the second quarter of the year.
Enterprisesthat the State will hold 50 percent of their charter capital includebusinesses that produce public products like media outlets, lightingcompanies and agro-businesses.
The State will hold 50 percent ofstake in businesses that play a key role in ensuring the stability ofthe national economy; stabilising markets such as electricity;exploiting minerals, coal, bauxite, copper, iron, tin, gold and preciousstones; producing more than 500,000 tonnes of pig-iron and steel peryear; and companies that provide financial, credit and insuranceservices. /.
