Equitisation of State-owned enterprises remains sluggish
The progress of equitisation of SOEs in the first six months of this year was slower than the same time last year with only 19 SOEs receiving approval for their equitisation plan by mid-June.
Deputy Head of the Corporate Finance Department Dang Quyet Tien at the press conference. The progress of equitisation of SOEs remains slow in the first six months of the year. (Photo: VNA)
Hanoi (VNA) – The progress of equitisation of State-owned enterprises(SOEs) in the first six months of this year was slower than the same time lastyear with only 19 SOEs receiving approval for their equitisation plan bymid-June.
At a press conference on the issue held in Hanoi on June 29, Deputy Head of theCorporate Finance Department under the Ministry of Finance Dang Quyet Tien saidthe Vietnam Southern Food Corporation Limited (Vinafood 2) and the VietnamRubber Group are among those which need to speed up equitisation.
Theofficial attributed the delay to the hesitation and lack of drastic measures onthe side of the firms’ management as well as the market’s low absorptioncapacity.
Divestment activity was also ponderous. Report from the Ministry of Financeshowed that state-owned groups and corporations divested a total 3.4 trillionVND (149.5 million USD) from non-core business areas and recovered 14.8trillion VND (651 million USD). However, over 11 trillion VND (483.8 million USD)of which was collected from selling shares of Vinamilk.
Regarding the draft amendments to Decree No.91/2015/ND-CP on the investment of Statecapital in enterprises and the management and use of capital and assets inenterprise, the Finance Ministry said one of the changes will deal with principlesfor the transfer of State capital and SOEs’ capital invested in other businesses.
Newregulations will be added on the determination of the initial prices whentransferring State capital and SOEs’ capital invested in other businessesrelated to land use right.-VNA
All relevant agencies have been ordered to publicise 578 equitised State-owned enterprises (SOEs) not listed on the stock market as of December 31, 2016.
The PM has given the green light to the equitisation plan for Song Da Corporation in the form of selling parts of state-owned capital and issuing shares to increase charter capital to 4.5 trillion VND.
The equitisation of State-owned enterprises (SOEs) should be stepped up towards transparency in line with the market mechanism, heard a workshop in Ho Chi Minh City on June 23.
Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM) urged accelerating state owned enterprises (SOEs) restructuring and equitisation soon.
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Deputy Head of the Corporate Finance Department Dang Quyet Tien at the press conference. The progress of equitisation of SOEs remains slow in the first six months of the year. (Photo: VNA) 
