Business

PM requires no state asset loss during SOE equitization

SGGP
The Prime Minister has required relevant sides not to let state asset loss occur during the equitization process of state own enterprises (SOEs) and state capital withdrawal, management and use.
The requirement has been sent in recently signed Directive 01 on stepping up restructuring, equitization and capital withdrawal at SOEs and enterprises with state capital.
According to the directive, the country has equitized 147 businesses from 2016 to November 2018.
After restructuring, enterprises have focused operation on important fields, performed their roles and missions to regulate and stablize macro economy. The performance efficiency of state own enterprises and equitized enterprises has increased. However, there have been some limitations and problems.
Therefore, the Prime Minister asks ministries, agencies, localities, economic groups and corporations to review and adjust the list of businesses in need of equitization in the phase of 2018-2020 to ensure feasibility.
They should look into those who failed in state capital withdrawal in the phase of 2016-2018 and transfer them to State Capital Investment Corporation (SCIC) to implement the divestment in the phase of 2019-2020.
Individuals and organizations should be held responsible for lateness in equitization, capital withdrawal and stock market listing. There should be sanctions to handle violations and prevent them from recurring. Relevant sides should complete enterprise restructuring project before January 15.

By PHAN THAO – Translated by Ngoc Thanh

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