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SOEs facing divestment to be made public soon

Deputy Prime Minister Vuong Dinh Hue has urged the Ministry of Planning and Investment (MPI) to quickly finalise the list of State-owned enterprises (SOEs) that needed to be divested.
SOEs facing divestment to be made public soon ảnh 1Deputy Prime Minister Vuong Dinh Hue has urged the Ministry of Planning and Investment (MPI) to quickly finalise the list of State-owned enterprises (SOEs) that needed to be divested. (Photo: baodautu.vn)

Hanoi (VNA) - DeputyPrime Minister Vuong Dinh Hue has urged the Ministry of Planning and Investment(MPI) to quickly finalise the list of State-owned enterprises (SOEs) thatneeded to be divested.

At a meeting on August 16 with theMPI, the Ministries of Finance and Justice, as well as the Government SteeringCommittee on Corporate Renovation and Development, Deputy PM Hue asked the MPIto submit the list of SOEs to be divested by 2020 to Prime Minister Nguyen XuanPhuc for approval.

He also assigned the Ministry ofFinance to review and calculate the number of SOEs and State capital needed tobe divested by 2020 and report it to the PM.

Hue said that the PM will issue aseparate decision on equitisation and divestment of State capital at large SOEssuch as Habeco, Sabeco, State Capital Investment Corporation (SCIC), PetroVietnam, Electricity of Vietnam and Airports Corporation of Vietnam (ACV). Butfor the remaining SOEs, it is necessary to fully aggregate them in a list tomake public to ease investors.

According to the PM’sinstruction, the MPI has begun asking for recommendations from relevantministries, agencies and localities about the list since early this year andhas so far finalised the draft.

Hue agreed with the draft listwhich regulates the rate of divested capital each year (the minimum rate), butnot fixing the rate and encouraging ministries and localities to increase therate to speed up the divestment according to the market situation.

"The list and the annualState capital divestment rate from now to 2020 is aimed at making a concreteassessment and binding heads of ministries and localities with theirresponsibilities. If they cannot do it, they must be accountable to the Governmentand the Prime Minister," Hue noted.

According to MPI Deputy MinisterDang Huy Dong, a thorough list is necessary to help monitor and speed up thedivestment at SOEs besides ensuring the collection from the State capitaldivestment to allocate the fund for medium-term investment projects.

According to the MPI’s draft, thetotal number of SOEs (excluding enterprises belonging to the Ministry ofNational Defence, Ministry of Public Security, HCM City People’s Committee,SCIC and those divesting according to the PM’s separate decision) are 375 withtotal capital according to face value of more than 108.5 trillion VND (4.76billion USD). Of the SOEs, 161 will be divested in 2017 and the number for thenext three years is 185, 65 and 25, respectively.

Total divestment capitalaccording to face value from 2017 to 2020 is expected to be nearly 64.46trillion VND.

The draft also states that thedivestment must be transparent, legal and according to the marketmechanism.-VNA
VNA
#Deputy Prime Minister Vuong Dinh Hue #SOEs #divestment #divestment capital #State Capital Investment Corporation #Airports Corporation of Vietnam #Electricity of Vietnam #Vietnam #Vietnam news #Vietnamplus
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