SOEs equitisation remains slow

Update: 10:00 | 12/06/2017
As many as 96.5 percent of State-owned enterprises (SOEs) was equitized as of the end of March this year, the privatized capital amount from these reached only 8 percent, according to a report of the General Secretary of the National Assembly. 
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soes equitisation remains slow Prime Minister meets Japanese entrepreneurs
soes equitisation remains slow
Illustrative image. (Photo: petrotimes.vn)

Under the report reviewing the restructuring of public investment, SOEs and credit institutions, prepared for the National Assembly’s upcoming question-and-answer session, the divestment from SOEs remains slow, as up to 92 percent of the State capital has not been equitized.

This means that the private sectors are not interested in involving in areas where the state does not need to hold capital.

Only eight SOEs have been equitized in the first three months of this year, while 41 others were listed for equitization.

In term of capital withdrawal, a total 72.8 billion VND in book value was divested from 10 SOEs by March 25.

According to the Ministry of Planning and Investment, the acceleration of divestment from SOEs can generate revenue of between 15-20 billion USD in 2016-2020.

In 2016, 56 enterprises were approved for equitization. The total value of these firms was 34 trillion VND, of which the State capital was valued at 24.4 trillion VND.

According to the Prime Minister’s Decision No. 58/2016/QD-TTg dated December 28, 2016, the country set to equitize 137 SOEs in 2017-2020.

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(Source: VNA)