Electricity of Vietnam rounds off restructuring plan
The Electricity of Vietnam Group (EVN) has fulfilled all key objectives of its shake-up master plan for 2012-2015 approved by the Prime Minister on November 23, 2012.
Hanoi (VNA) – The Electricity of Vietnam Group (EVN) has fulfilled allkey objectives of its shake-up master plan for 2012-2015 approved by the PrimeMinister on November 23, 2012.
In the four-year period, the group completed a decree on regulations on financialmanagement mechanism and carried out the restructuring as well as productionand business plans in five Electric Corporations and Power TransmissionCorporations.
Throughout the restructuring process, EVN’s three power generation corporationshave been operating smoothly.
Amid gloomy stock market, the group was still active in developing itsdivestment plan, organised public auctions as well as sought partners totransfer their capital in enterprises that needed to be divested. It completeddivestment in six out of seven non-core enterprises.
Thanks to its rational organisation, EVN’s total member companies reduced to 38from 88 units.
Throughout four years, the group played a vital role in stabilising thecountry’s macro-economy, providing public services and consolidating securityand defence.
It also took the lead in an investment programme to light up rural areas andisland districts, making contributions to eliminating poverty and giving a pushto the building of new style rural areas. By the end of 2015, 98.88 percent ofrural population had access to electricity.
To date, the group has taken responsibility for power production and import aswell as management of transmission operation.
According to EVN Chairman Duong Quang Thanh, the group has ensured sufficientpower for socio-economic development and gained robust business results.
He said that the group will make a beeline for accomplishing main tasks for the2016-2020 restructuring plan, which include the equitisation of powergeneration corporations and retail enterprises. In addition, it will improvecompetitive capacity to meet demands of socio-economic development.-VNA
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Illustrative photo (Photo: VNA) 
