Vietnamplus

The Indonesian government is preparing 75 trillion Rp (5.1 billion USD) for the nation’s sovereign wealth fund (SWF) to attract investment and support the economy as global heavyweights from the United States to the United Arab Emirates have expressed interest to join.

Deputy Prime Minister Truong Hoa Binh on August 6 requested the utmost effort from ministries, sectors, and State-owned enterprises (SOEs) to achieve the best result possible in equitising SOEs and divesting State capital from businesses.

The European Union-Vietnam Free Trade Agreement (EVFTA) officially took effect on August 1, ushering in a new chapter in economic and trade relations between the two sides.

Economists have said Vietnam would gain many benefits from a full and modern market economy.

Vietnamese firms have been increasing their overseas investments in recent years in an effort to expand their global reach.

The Indonesian House of Representatives has approved the proposal for government assistance in the form of state capital participation (PMN), disbursement of government debt to State-Owned Enterprises (SOEs) and loan funds worth 151.15 trillion Rp (10.32 billion USD) for a number of SOEs.

Prime Minister Nguyen Xuan Phuc has issued Decision 908/QD-TTg approving the list of State-owned enterprises (SOEs) to implement divestment of State capital in 2020, which comprises 120 enterprises.

The Indonesian government has decided to spend 52.5 trillion Rp (about 3.7 billion USD) to help 12 state-owned enterprises (SOEs) resume their post-pandemic operations, towards reviving the national economy, said Finance Minister Sri Mulyani on June 3.

The Ministry of Finance has raised a number of measures to accelerate the equitisation of State-owned enterprises (SOEs) since the process made no improvements recently.

Only 23.6 percent of construction companies in Vietnam had a greater demand for workers in the first quarter of this year compared to the previous quarter, while 20.1 percent said they needed fewer workers, a survey by the General Statistics Office (GSO) found.

The Government’s plans to increase capital for large State-owned commercial banks in the first quarter of this year could be delayed due to the Covid-19 outbreak, analysts predicted.

Regulatory overlapping was the biggest problem at State-owned enterprises (SOEs) since they were handed over to the Commission for the Management of State Capital at Enterprises, officials have said.

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.

Ministries are working to convince Prime Minister Nguyen Xuan Phuc to amend divestment plans at some large State-owned enterprises (SOEs).

Vietnam should prioritise using development assistance to strengthen the financial sector.

A delegation of the State Audit Office of Vietnam led by Auditor General Ho Duc Phoc are taking part in the 7th international integrity seminar that opened in Budapest, Hungary, on February 24.

The increasing amount of property and land under State-owned enterprises (SOEs) was mentioned as a factor in their slow equitisation.

Indonesia is working with consultants McKinsey & Co. and Boston Consulting Group to revamp state firms with an annual revenue of 172 billion USD and dominate sectors from energy to construction and telecom.

The State-Owned Enterprises (SOEs) Ministry of Indonesia will close down or merge state-owned companies that have consistently failed to make profits, as part of the government’s SOEs restructuring plan, according to an official.

The equitisation of State-owned enterprises (SOEs) has fallen behind the target set by the Government and ministries for 2017-2020.