Two trillion VND of State capital divested from transport sector

Illustrative image. (Source: VNA)

Hanoi (VNA) – The Ministry of Transport (MoT) is pushing forward with the restructuring of State-owned enterprises (SOEs) in the sector, with two trillion VND of State capital divested from five corporations and companies since the beginning of this year.

According to Deputy Minister Nguyen Hong Truong, all State capital was withdrawn from the Civil Engineering Construction Corporation No. 6 (Cienco 6), the Transport Engineering Design Inc .(Tedi), the Waterway Transport Corporation, the Vietnam Motors Industry Corporation (Vinamotor) while 23.18 percent of the charter capital was withdrawn from the Civil Engineering Construction Corporation No. 5 (Cienco 5).

The divested capital was then put into the Business Arrangement and Development Support Fund of t he State Capital Investment Corporation (SCIC).

The MoT also transferred the management of State capital in the Thang Long Construction Corporation to SCIC and submitted to the Prime Minister for consideration the transfer of State capital management in three corporations (Cienco 5, Cienco 8, the Waterway Construction) and nine companies.

Deputy Minister Nguyen Hong Truong said the ministry has approved the strategic investors of the Airports Corporation of Vietnam and Vietnam Airlines, while continuing to work on the restructuring of Vinalines, VEC and Cuu Long corporations.

In the fourth quarter, Truong said, the MoT will accelerate the equitisation of public service delivery units that was given greenlight by the PM. The ministry will report to the PM the progress of the restructuring of the Vietnam Ship Building Industry Corporation ( SBIC ) and build the restructuring plan for Vinalines in the 2016-2020 period.-VNA