Deputy Prime Minister Vu Van Ninh warned ministers, provincial leaders, and business executives of strict consequences for failing to complete the restructuring of State-owned enterprises (SOEs) under their management in the 2014-15 period.
Ninh, who is also the head of the Steering Committee for Business Renovation and Development, said the ministers and leaders must assume responsibility for their performance before the Prime Minister.
Qualified enterprises should conduct an initial public offering (IPO) upon completing their equitisation, while the others are to convert into joint stock companies with the State, the State Capital Investment Corporation, trade unions, and employees as primary shareholders, he reminded.
He urged ministries, provinces, and businesses to accelerate the restructuring of SOEs to ensure timely transitions in 2015.
SOEs are set to be valued in the first quarter of 2015, once an equitisation steering committee has been formed across all relevant enterprises. The value of SOEs’ is to be announced in the third quarter, with subsequent equitisation plan approved within the fourth quarter of the year, he stated.
Meanwhile, the Deputy PM has also requested submissions for a plan to restructure SOEs between 2016 and 2020, to be received in the third quarter of 2015.
He assigned the Ministry of Finance to assist businesses during their value assessment and to set stock prices for employees and trade unions.
SOE restructuring is a component of larger economic restructuring, as guided by the National Assembly’s Resolution No.10/2011/QH13 on the socio-economic development strategy for 2011 to 2015.
According to the Steering Committee for Business Renovation and Development, as of December 25, 2014, 143 out of 432 State-owned enterprises were equitised, doubling the 2013 figure.-VNA
Ninh, who is also the head of the Steering Committee for Business Renovation and Development, said the ministers and leaders must assume responsibility for their performance before the Prime Minister.
Qualified enterprises should conduct an initial public offering (IPO) upon completing their equitisation, while the others are to convert into joint stock companies with the State, the State Capital Investment Corporation, trade unions, and employees as primary shareholders, he reminded.
He urged ministries, provinces, and businesses to accelerate the restructuring of SOEs to ensure timely transitions in 2015.
SOEs are set to be valued in the first quarter of 2015, once an equitisation steering committee has been formed across all relevant enterprises. The value of SOEs’ is to be announced in the third quarter, with subsequent equitisation plan approved within the fourth quarter of the year, he stated.
Meanwhile, the Deputy PM has also requested submissions for a plan to restructure SOEs between 2016 and 2020, to be received in the third quarter of 2015.
He assigned the Ministry of Finance to assist businesses during their value assessment and to set stock prices for employees and trade unions.
SOE restructuring is a component of larger economic restructuring, as guided by the National Assembly’s Resolution No.10/2011/QH13 on the socio-economic development strategy for 2011 to 2015.
According to the Steering Committee for Business Renovation and Development, as of December 25, 2014, 143 out of 432 State-owned enterprises were equitised, doubling the 2013 figure.-VNA
