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VietNamNews

Transport ministry divests from non-core businesses to equitise

Update: October, 29/2015 - 09:39
Transport ministry plans to complete equitisation of all enterprises where the State does not need to hold 100 per cent of the capital in 2015. — Photo tinkinhte.com
HA NOI (VNS)  — The transport ministry has divested from 110 enterprises so far, collecting nearly VND4.4 trillion (US$196 million).

The enterprises comprise seven corporations and 103 affiliates and associated companies of these corporations.

During the 2011-15 period, 50 enterprises in the transport sector were restructured, and 137 enterprises were equitised, including large corporations such as Vietnam Airlines, the Airports Corporation of Viet Nam and Viet Nam National Shipping Lines.

About 98 enterprises have become joint stock companies.

The ministry has also transferred its state capital representation rights in six enterprises – involving VND581 billion ($26 million) – to the State Capital Investment Corporation.

The ministry will try to complete the equitisation of all enterprises where the state does not need to hold 100 per cent of the capital in 2015.

After 2015, the ministry is likely to have control over four corporations – Viet Nam Railways, Viet Nam Air Traffic Management Corporation, Northern Viet Nam Maritime Safety Corporation and Southern Viet Nam Maritime Safety Corporation – and two companies, Viet Nam Maritime Communication and Electronics LLC and the Transport Publishing House. — VNS

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