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VietNamNews

Remove barriers to SOE reform: PM

Update: March, 27/2015 - 09:27
Prime Minister Nguyen Tan Dung asks SOEs to constantly improve their production and business management, and take open and transparent measures to be listed on the stock market. — Photo cafef.vn
HA NOI (VNS) — Prime Minister Nguyen Tan Dung yesterday called for intensified efforts to restructure State-owned enterprises (SOEs), focusing on equitisation and withdrawal of State capital from non-core businesses.

In a working session with the Steering Board for SOE Renovation and Development in Ha Noi, he said the currenet pace of restructuring was too slow and barriers needed to be removed to speed it up.

Restructuring SOEs was a focal political task of the Government requiring unanimous consent and concerted efforts by the entire political system, agencies, localities and business community, he said.

He asked SOEs to constantly improve their production and business management, and take open and transparent measures to be listed on the stock market.

He also ordered stepped up supervision of the restructuring process by all agencies concerned, including ministries and local administrations as well as SOE managements.

Prime Minister Nguyen Tan Dung has a working session with the Steering Board for SOE Renovation and Development in Ha Noi yesterday. — Photo VNA

The meeting heard that as of March 24, 289 SOEs on the waiting list for equitisation had already established Steering Boards to oversee the process. 207 were evaluating their assets and 81 others were preparing to announce their worth.

Nationwide, nearly VND7 trillion (US$333 million) invested in non-core businesses had been withdrawn, mostly by the military-run telecom corporation, Viettel, the Viet Nam National Oil and Gas Group, the Viet Nam Posts and Telecommunications, Electricity of Viet Nam and the State Capital and Investment Corporation.

In the first quarter of this year, January-March, 18 SOEs auctioned 100 million shares for VND805 billion ($38.3 million). — VNS

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