Conference to be held next month on SOE restructuring

Tuesday, Sep 24, 2019 09:31

A Vinafood 1 rice processing plant. The State-owned firm will cut State ownership in its capital to 65 per cent by the end of 2020. — Photo

A conference on improving the operating efficiency of State-owned enterprises (SOEs) will take place in late September-early October.

The conference will be attended by Prime Minister Nguyen Xuan Phuc.

Ministries, ministry-level agencies, Government agencies, provincial authorities, cities and SOEs have to complete submitting reports on SOE restructuring to the ministries of Finance and Planning and Investment and the Government Office by September 25.

The reports must focus on the restructuring process for SOEs that had been targeted from 2016 to August 2019 and clarify agencies’ policy-making procedures in accordance with Prime Minister’s Directive 01 dated January 5, 2019.

PM Phuc on August 15, 2019 issued Decision 26/2019/QD-TTg approving the list of 93 SOEs that must be equitised by the end of 2020. The State will hold more than 65 per cent stakes in four equitised SOEs, which are The Vietnam Bank for Agriculture and Rural Development (Agribank), the Vietnam National Coal and Mineral Industries Group (Vinacomin), the Vietnam Northern Food Corporation (Vinafood 1) and the Vietnam Mineral Co Ltd.

Sixty-two SOEs will cut State ownership to 50-65 per cent after being equitised such as telecoms groups Mobifone and VNPT, the Vietnam National Coffee Corporation (VINACAFE) and the Vietnam Cement Industry Corporation (Vicem).

The Government will control 0-50 per cent of charter capital in 27 targeted SOEs, including Housing and Urban Development Corporation (HUD) and Saigon Jewellery Co Ltd (SJC). — VNS

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