PM approves list of SOEs for divestment in 2020

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has approved a list of  一 二 四 State-owned enterprises (SOEs)  for divestment this year.

According to Decision No  九0 八/QĐ-TTg,  一 二0 enterprises will be divested by the representative agencies of the State capital (companies under ministries and provincial People's Co妹妹ittees). Hà Nội has the most enterprises that need to divest with  二 八, including some big names like Thượng Đình Shoes,  一 九 Garment and Textile Company, Hanel, Thụy Khuê Shoes and Trần Phú Electrical Engineering Company.

Another four enterprises will have their capital transferred to the State Capital Investment Corporation (SCIC) by December  三 一 if divestment by the representative agency is not complete before November  三0. They include Song Hong Corporation, Hà Nội Construction Joint Stock Corporation, No  一 Construction Corporation and Việt Nam Urban and Industrial Zone Development Investment Corporation (IDICO).

In addition,  一 四 SOEs will be transferred to the SCIC for divestment. The transfer must be completed before August  三 一. These companies include Việt Nam Industrial Construction Corporation and Saigon Beer, Alcohol and Beverage Corporation (SABECO).

Notably,  六 九 other SOEs will have their divestment halted till the end of this year for review including  五 四 in the water supply sector. The businesses will face restructuring and capital withdrawal in  二0 二 一- 二 五.

State divestment of firms under the Ministry of National Defence, Ministry of Public Security, HCM City People's Co妹妹ittee, SCIC, Hanoi Beer, Alcohol and Beverage Joint Stock Corporation; Việt Nam Satellite Digital Television Company Limited; Việt Nam Television Tower Investment Joint Stock Company and enterprises not listed in this decision comply with the plan approved by authorities.

The decision aimed to accelerate the progress of divestment at firms the Government does not need to hold capital in and to ensure collection for public investment plans in  二0 一 六- 二0. It would also help promote the restructuring of SOEs to focus on key sectors of the economy.

The PM asked ministers and chairman of provincial People’s Co妹妹ittee to implement the divestment on schedule.

State privatisation and divestment have not seen new changes since the beginning of this year. Minister of Finance Đinh Tiến Dũng said State divestment is very slow in many ministries and localities such as Ministry of Industry and Trade and Ministry of Construction. — VNS