HCM City will continue to speed up equitisation of State-owned enterprises to enable more reputed companies to list on the stock exchange, and the most favourable conditions for investors, its chairman has said.
As the Prime Minister’s SOE equitisation plan has remained stagnant for the last five years, economic specialists have said it is very difficult for the stakeholders to complete the plan on schedule, or it is impossible.
The Ministry of Finance has raised a number of measures to accelerate the equitisation of State-owned enterprises (SOEs) since the progress made no improvements recently.
Viet Nam’s stock market had become a launch pad of for the business community, supporting the equitisation of state-owned enterprises and helping a more balanced and efficient structure in Viet Nam’s financial market, said Prime Minister Nguyen Xuan Phuc.
Debts and non-performing loans of foreign-invested companies would now be also on the radar of the Debt and Asset Trading Company (DATC), Pham Manh Thuong, DATC’s general director, said at a Ministry of Finance press conference on Tuesday.
Deputy Prime Minister Vuong Dinh Hue urged leaders of HCM City on Wednesday to promote and arrange the equitisation of state-owned enterprises that operate in HCM City.
The equitisation of State-owned enterprises (SOEs) is unlikely to meet this year’s target, as only 19 SOEs had completed the process by the end of June.
Proceeds from the sale of State capital at Sai Gon Beer-Alcohol-Beverage Corporation (Sabeco) and other State-owned enterprises will be used for the right purposes as approved by the National Assembly.
Transparency in the equitisation of State-owned enterprises (SOEs) must be enhanced to attract foreign strategic investment in the process, experts said.
With its steady economic growth, political stability, a youthful population, and equitisation of State-owned enterprises, Viet Nam’s securities market is attractive to investors.
Equitisation of State owned enterprises (SOEs) has progressed well in 2011-2016 period and the first eight months of 2017 thanks to various ministries and sectors, economic groups and localities getting onboard, said an official from the Ministry of Finance.
The equitisation of State-owned enterprises in HCM City has been progressing at a snail’s pace partly because their managements are dragging their feet, experts have said.