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PM: Viettel will remain as a wholly State-owned enterprise

Update: October, 16/2013 - 08:56

HA NOI (VNS)— Viettel, a military telecom company, will continue to be a wholly state-owned enterprise, according to the Prime Minister's direction.

In an official letter signed on October 8 by Deputy Prime Minister Vu Van Ninh to the Ministry of Defence, the Prime Minister asked that the other 89 businesses under the Ministry of Defence also remain wholly state-owned, including 17 corporations and 72 one-member limited companies.

The Prime Minister also required the maintenance of 100-per cent state capital at 69 subsidiaries of enterprises operating under the parent-subsidiary form, including three subsidiaries of Viettel, the M1 Information Factory one-member limited company, the M3 Information Factory one-member limited company and Viettel Trade, Import and Export one-member limited company.

Meanwhile, the Prime Minister approved the plan to dissolve Company 7/5, equitise 36 companies and withdraw State capital from nine joint stock companies.

The Prime Minister also agreed to the restructuring of the Thanh An Corporation to a one-member limited company and equitisation of its five subsidiaries, Thanh An 141 Company, Thanh An 116 Company, Thanh An 119 Company, Thanh An 171 Real Estate Investment and Trading Company and Thanh An 191 Consulting, Study and Design Company.

Under the direction of the Prime Minister, the Ministry of Defence is responsible for restructuring and adding capital to these enterprises under current regulations and reporting to the Prime Minister.

The Ministry of Defence will create plans for establishing Corporation 16, Ba Son Corporation, Song Thu Corporation and Hong Ha Corporation and then submit the plans to the Prime Minister, according to the Prime Minister's direction.

This is part of the plan on the restructure and renovation of state-owned enterprises under the Ministry of Defence in the 2013-15 period. — VNS


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