PM chairs national conference on rearrangement and renovation of businesses

VGP – PM Nguyen Xuan Phuc, together with Politburo member and Permanent member of the Party Central Committee (PCC)'s Secretariat Dinh The Huynh and deputy PMs chaired a national videoconference implementing the rearrangement and renovation of state-owned enterprises during the 2016-2020 period.

Photo: VGP

In Ha Noi, the conference sees the attendance of the Ministers of Finance; Planning and Investment; Labor, Invalids and Social Affairs; and Natural Resources and Environment; members of the Steering Committee for Business Renovation and Development; leaders from Ministries of Home Affairs; National Defence; Justice; Public Security; Information and Communications; Transport; Health; Culture, Sports and Tourism; Education and Training; Industry and Trade; Construction; and Agriculture and Rural Development; and representatives from the Government Inspectorate and the State Bank of Viet Nam.

Among the participants are leaders from the PCC's Economic Commission, the National Assembly's Economic Committee, the NA's Financial and Budget Committee, the NA's Office, the Presidential Office, the State Audit of Viet Nam, the Central Business Bloc Party organization, the Viet Nam General Confederation of Labor, as well as general directors of state-owned groups and corporations and commercial banks.

At the remaining 63 locations nationwide, participants include leaders from the municipal and provincial People's Committees, local committees for business renovation and 100% state-owned enterprises as well as the equitized businesses in which the State holds controlling stakes in localities.

Concerning business rearrangement and renovation, a total of 514 enterprises were scheduled to be equitized from 2011 to 2015. As of December 2015, equitization measures had been devised for 478 businesses, equivalent to 93% of the target. So far this year, a total of 55 enterprises have been floated on the stock market, and another seven businesses are scheduled to be sold by initial public offering (IPO) in the time ahead.

In 2016 alone (as of November 25), there were 52 state-owned enterprises and three public non-business units equitized nationwide. The enterprises are under the Ministries of National Defence; Industry and Trade; Agriculture and Rural Development; Construction; and Transport; the Viet Nam Rubber Industry Group; the State Capital Investment Corporation; the Viet Nam Southern Food Corporation; and 17 localities.

In addition, 12 businesses were rearranged in the other forms, including ten dissolved, one bankrupted and one sold.

With regards to divestment of state capital, over the past 11 months, the military-run telecoms operator Viettel, the Viet Nam National Textile and Garment Group, the State Capital Investment Corporation, the Viet Nam Northern Food Corporation, and eight corporations under the Construction Ministry and HaNoi, sold the state stakes in other enterprises worth VND2.81 trillion, bringing in VND5.086 trillion.

(http://news.chinhphu.vn/)