The equitisation of State-owned enterprises (SOEs) should be stepped up towards transparency in line with the market mechanism, heard a workshop in Ho Chi Minh City on June 23.
By the end of 2016, businesses in HCM City had divested a total of 3.5 trillion VND (154 million USD)(Source: VNA)
HCM City (VNA) – The equitisation of State-owned enterprises (SOEs) should be stepped uptowards transparency in line with the market mechanism, heard a workshop in HoChi Minh City on June 23.
Le Trong Sang, head of the HCM City departmentof business renewal and management, underlined the need to intensify inspectionand supervision in order to avoid losses of State capital and assets.
Besides, it is necessary to set up mechanisms tocontrol capital for merger & acquisition activities and attract strategicinvestors, he said.
Huynh An Trung, Director of Cholimex Food JSC,listed a range of bottlenecks in SOE equitisation like unreasonable labourpolicies and businesses’ embarrassment in solving arising problems during theprocess.
Additionally,enterprises have faced difficulties in identifying their business advantagesand assessing land use rights, he said.
Other delegates highlighted major challengesregarding the hand-over of assets, especial property in joint ventures.
The workshop heard that by the end of 2016,businesses in HCM City had divested a total of 3.5 trillion VND (154 millionUSD). Ten SOEs are expected to divest capital this year. -VNA
The HCM City People’s Committee has ordered all State-owned enterprises (SOEs) with 100 percent charter capital owned by the State to fully publish information about their activities.
As many as 96.5 percent of State-owned enterprises (SOEs) was equitised as of the end of March this year, but the privatized capital amount from these reached only 8 percent.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
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