Business

State-owned enterprises equitisation remains slow

The restructuring of State-owned enterprises (SOEs) in the first nine months of this year failed to meet the set target, with 49 SOEs having their equitisation plans approved in the period.
State-owned enterprises equitisation remains slow ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – The restructuring of State-owned enterprises (SOEs) in the first nine months of this year failed to meet the set target, with 49 SOEs having their equitisation plans approved in the period, said the Ministry of Finance.

Among those were large enterprises like the Vietnam Engine and Agricultural Machinery Corporation, the Machine and Industrial Equipment Corporation and the Vietnam National Construction Consultants Corporation.

The total real value of these 49 businesses is over nearly 32 trillion VND (around 1.44 billion USD), including nearly 23.2 trillion VND (1.04 billion VND) of State capital.

According to the approved equitisation plans, their combined chartered capital is estimated at over 23 trillion VND (over 1.03 billion USD), of which the State holds about 11.1 trillion VND (499.5 million USD).

In the last three quarters, economic groups and corporations divested 3.2 trillion VND (144 million USD) from five sensitive fields.

In the coming time, the Business Finance Department under the Ministry of Finance (MoF) will continue withdrawing capital that businesses have invested in non-core areas.

Efforts will be intensified to quicken the restructuring, improve the quality of administration in SOEs and their operation efficiency.

Attention will also be paid to improving the efficiency of management and supervision of SOEs, ensuring transparency on their activities, and enhancing inspection and management of State-owned economic groups and corporations.

According to the MoF’s reports, State budget collection reached 718.3 trillion VND (over 32.3 billion USD) in the last three quarters, equivalent to 70.8 percent of the yearly target and up 5.2 percent year on year.

Meanwhile, budget spending was 870.5 trillion VND (around 39.1 billion USD), equal to 68.4 percent of estimates and up 5.7 percent from the same period last year.

The disbursement of basic construction investment reached 54.5 percent of the plan while that of Government bonds 38.8 percent.

During the period, tax agencies inspected over 48,500 businesses, collecting 8.3 trillion VND (373.5 million USD) in fines, while customs agencies made over 5,100 inspections after customs clearance, collecting 1.5 trillion VND (67.5 million USD) for the State budget.-VNA

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