Loss-making projects unable to revive must be dissolved: Deputy PM
Loss-making projects that are unable to revive must be dissolved, Permanent Deputy Prime Minister Truong Hoa Binh said at the 9th meeting of the steering committee for dealing with some poor-performing projects and businesses of the industry and trade sector held in Hanoi on April 3.
Permanent Deputy Prime Minister Truong Hoa Binh speaks at the meeting on April 3 (Photo: VNA)
Hanoi (VNA) – Loss-making projects that areunable to revive must be dissolved, Permanent Deputy Prime Minister Truong HoaBinh said at the 9th meeting of the steering committee for dealingwith some poor-performing projects and businesses of the industry and tradesector held in Hanoi on April 3.
The Committee for Management of State Capital at Enterprises(CMSC) reported that among the six projects that have been operating butsuffered losses in the past, two recorded profits in 2018 and 2019, namely DAP-1 Hai Phong fertiliser plant and Viet Trung Metallurgy andMineral Co. Ltd.
The four others have gradually addressed their difficultiesand reduced losses, namely Ha Bac Nitrogenous Fertilizer and Chemicals Co.Ltd, Ninh Binh Nitrogenous Fertilizer and Chemicals Co. Ltd, DAP-2 LaoCai fertiliser plant, and Dung Quat Shipyard.
Among the three projects that were suspended, DinhVu polyester fibre plant project has resumed operations, while the two others arenow eligible for resuming activities but have not due to market difficulties,namely Quang Ngai and Binh Phuoc bio-fuel plant projects.
The CMSC said the 12 major ailing projects andbusinesses were inspected, seven of them were audited, while four were investigatedand prosecuted. As a result, organisations and individuals who committedviolations have been strictly handled.
At the meeting, Deputy PM Binh, who is head of the steeringcommittee for dealing with the weak projects and businesses, noted there is notmuch time left to complete the settlement of those 12 projects and firms asrequested by the Politburo and the PM, pointing out that the tasks needed to bedone in 2020 are all hard ones left over from the previous years.
He asked the CMSC to promote and monitor State-ownedenterprises’ clarification of responsibility so as to thoroughly removeobstacles to those tasks this year.
The settlement of those loss-making projects and firms mustensure that the State won’t have to continue shouldering their debts, Binhsaid, noting that those able to develop should be removed from the list ofpoor-performing projects, while relevant parties should seek partners tooperate those needing to form joint ventures, be sold or lease assets.
Meanwhile, loss-making projects must be dissolved toprevent prolonged losses, the Deputy PM stressed./.
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Permanent Deputy Prime Minister Truong Hoa Binh speaks at the meeting on April 3 (Photo: VNA) 
