Voters urge completing legal framework for SOE equitisation
Voters urge building of complete legal framework for SOE equitisation
The discussion at the National Assembly on the equitisation of State-owned enterprises during 2011-2016 attracted great interest of voters nationwide, with many urging more efforts to improve legal framework for the work.
At the 5th session of the 14th National Assembly (Photo: VNA)
Hanoi (VNA) – The discussion at the National Assembly on theequitisation of State-owned enterprises (SOEs) during 2011-2016 attracted greatinterest of voters nationwide, with many urging more efforts to improve legalframework for the work.
Lawyer Pham Ngoc Luong, standing chairman of the business association ofLao Cai province, said incomplete laws and policies, especially inconsistency amongministries’ circulars guiding the implementation of laws, caused manydifficulties in carrying out SOE equitisation, resulting in delay, losses andwastefulness, along with inadequate attention to labourers’ interest.
Therefore, it is necessary to push ahead with building a complete legalframework, particularly regulations on the role of the Party andsocio-political organisations in the equitisation process, to ensuretransparency and the involvement of all stakeholders in the process, he said.
Lecturer Do Thi Thuy, Vice Dean of the Economics-Technology Departmentat Hoa Lu University in Ninh Binhprovince, shared the view, adding that the Ministry of Finance should quicklyissue guidance on foreign investors’ contribution of capital and purchase of sharesin Vietnamese enterprises.
She also emphasized the need to complete the system of institutions forthe market economy, thus ensuring equal and transparent competition amongenterprises of different types of ownership.
Dinh Gia Nghia, Deputy Director General of the Dong Giao food exportjoint stock company in Ninh Binh, was of the opinion that during equitisationof SOEs, at least 65 percent of the State-owned stake should be put on sale inorder to allow investors to have a voice in running the enterprises.
According to Bui Quang Tin, executive director of the BizLight businessschool in Ho Chi Minh City, persuading foreign investors to become strategic investorsof equitised SOEs is one of the solutions to improve the equitisation processand the quality of corporate governance after equitisation.
The implementation of policies and laws on the management and use ofState capital and asset in enterprises and the equitisation of State-ownedenterprises during 2011-2016 was the focus of discussion at the NationalAssembly on May 28 as part of the 14th legislature’s fifth session.
The discussion was broadcast live on national television and radio.-VNA
The Central Institute for Economic Management released a report on October 30 on the actuality of strategic shareholders’ involvement in SoEs equitisation process.
State-owned enterprises (SOE) can apply the book building method at their initial public offering (IPO) from the beginning of 2018, according to a recently issued decree.
Deputy Prime Minister Vuong Dinh Hue called for speeding up the equitisation of State-owned enterprises (SOEs) at a recent meeting of the Steering Committee for Business Renovation and Development.
A NA supervision team had a working session with Government representatives on draft Report and Resolution on the supervision of management and use of State-owned capital and assets at enterprises.
The operation efficiency of State-owned enterprises (SOEs) during 2011-2016 had yet to match the resources they were holding, according to a report delivered to the National Assembly on May 28.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
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Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
At the 5th session of the 14th National Assembly (Photo: VNA) 
