Only three SOEs have equitisation plans approved in five months
Only three state-owned enterprises (SOEs) got the nod from authorized agencies for their equitisation plans in the first five months of this year, lifting the total number of companies to have plans approved by the end of May 2019 to 30, according to the Ministry of Finance.
Hanoi (VNA) - Only three state-ownedenterprises (SOEs) got the nod from authorized agencies for their equitisationplans in the first five months of this year, lifting the total number ofcompanies to have plans approved by the end of May 2019 to 30, accordingto the Ministry of Finance.
This was a poor result in the context that a total of 127 SOEsmust be equitised by 2020 to meet the Government’s target.
The remaining 97 enterprises, equivalent 76 percent ofthe total, must move quickly to have their equitisation plans approved by theend of next year.
SOEs divested capital with total face value of 759 billionVND (32.5 million USD) in the first five months of the year, collecting nearly 1.66trillion VND (71.2 million USD) for the State budget.
Since 2017 to the end of May 2019, 87 SOEshave completed divestment with total value of 4.55 trillion VND (195million USD), fetching nearly 8.7 trillion VND (372.7 million USD) forthe State.
The Prime Minister has asked ministries and branches tocontinue developing and issuing policies and regulations on equitisation,divestment and restructuring of SOEs to ensure the process is done openlyand transparently in accordance with the law, following the market mechanismwhile guaranteeing the State's interests.
The Ministry of Finance has set key tasks in June to coordinatewith ministries, sectors and localities to speed the process, focusing onsupervision and handling financial issues.-VNA
Deputy Prime Minister Vuong Dinh Hue has stated that no group interests have been found in the equitisation and divestment of State-owned enterprises (SOEs) following inspections.
The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market.
No State-owned enterprises (SOEs) gained approval for their equitisation plans in the first three months of 2019, according to the Ministry of Finance’s Corporate Finance Department.
The equitisation of State-owned enterprises (SOEs) is still slow, failing to reach the rate of progress as directed by the Prime Minister, Deputy Minister of Finance Vu Thi Mai said at the Government’s regular press briefing in Hanoi on May 4.
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Illustrative photo (Source: VNA) 
