As issues related to land use rights still hinder State-owned enterprises (SOEs) from executing equitisation on time, the finance ministry has built a draft to amend the current decree regulating land issues.
The successful equitisation and capital divestment of State-owned enterprises (SOEs) would create benefits that boosted the stock market and business performance, experts have said.
Only nine state-owned enterprises (SOEs) were given the green light from the government for their equitisation plans this year, reported the Ministry of Finance (MoF).
Deputy Prime Minister Vuong Dinh Hue chaired a meeting of the Steering Committee for Business Renovation and Development in Hanoi on July 8 to review equitisation, divestment and restructuring of State-owned enterprises (SOEs) and corporate development in the first half and tasks for the remaining months of this year.
Only three state-owned enterprises (SOEs) got the nod from authorized agencies for their equitisation plans in the first five months of this year, lifting the total number of companies to have plans approved by the end of May 2019 to 30, according to the Ministry of Finance.
Prime Minister Nguyen Xuan Phuc has asked for the clarification of responsibilities of organisations and individuals in delaying the equitisation of state-owned enterprises (SOEs).
As the stock market is experiencing strong volatility and shows little signs of strong recovery, the State may struggle to sell its stake in State-owned enterprises (SOEs) on schedule.
Lawmakers stressed the need to clearly define State management and corporate governance in businesses during the ongoing fifth session of the 14th-tenure National Assembly on May 28.
Proceeds from the sale of State capital at Saigon Beer-Alcohol-Beverage Corporation (Sabeco) and other State-owned enterprises will be used for the right purposes as approved by the National Assembly.
The equitisation of State-owned enterprises (SOEs) needs to be made in a substantive and comprehensive manner, and all violations, especially at big loss-making firms, must been strictly handled, an official has said.
Deputy Prime Minister Vuong Dinh Hue chaired a meeting in Hanoi on July 11 to review the restructuring of State-owned enterprises (SOEs) in the first half and launch tasks for the remaining months.
Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM) urged accelerating state owned enterprises (SOEs) restructuring and equitisation soon.
As many as 96.5 percent of State-owned enterprises (SOEs) was equitised as of the end of March this year, but the privatized capital amount from these reached only 8 percent.
To create a fair business environment to promote the development of the private sector, experts said restructuring of State-owned enterprises (SOEs) must be hastened.
Only 42 State-owned enterprises (SOEs) and two public service institutions were equitised between January and August this year, according to the Steering Committee for Business Reform and Development.
A total of 109 state-owned enterprises have completed equitisation as of the end of September, said Pham Tuan Anh, Deputy Director of the Enterprises Renovation Department under the Government Office.
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