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SOEs classified into three groups for equitisation

Update: June, 25/2014 - 09:07

A customer care centre of the military-run telecommunications firm Viettel. The Prime Minister has urged relevant agencies to classify State-owned enterprises to speed up their innovation. -- Photo

HANOI (VNS) — Enterprises which have over 50 per cent State stakes and are to be equitised will be classified into three groups, Prime Minister Nguyen Tan Dung stipulates in Decision No 37/2014/QD-TTg dated June 18.

Based on the State stake ratios, the groups are: from 50 per cent to below 65 per cent, from 65 per cent to below 75 per cent, and 75 per cent or more.

The first group includes companies dealing in urban water supply and sewerage, urban lighting, environmental sanitation, natural resource exploration, seed plantation and basic chemical production, rubber growing and processing, and railway and international seaway transport.

The second group lists such areas as petroleum and natural gas processing, cigarette production, aviation, electricity distribution, banking and finance. It also consists of businesses stabilising the medicine, food and petroleum markets, as well as those managing forest plantation and improving people's lives in remote areas.

The third group mentions firms involved in the management, exploitation and maintenance of airports and terminals, national seaports, domestic road and waterway systems, telecommunications infrastructure, mineral, petroleum and natural gas.

Dung says the classification is a basis for speeding up the reorganisation and innovation of State-owned enterprises (SOEs).

He urges ministries, Government agencies, provincial people's committees and economic groups to review SOE reorganizing plan for the 2014-15 period and submit to him in the third quarter of this year.

He requests State stakes to be wholly maintained in enterprises for 16 sectors, including businesses involved in national defense and security, explosive material and poisonous chemical supply, national electricity transmission and railway operation.

The sixteen also consists of post services, maritime, lottery, publishing, money printing and casting, irrigational works management, plantation of protective forest, policy lending and business sectors that require strategic know-how.

The new decision replaces Decision No 14/2011/QD-TTg and will take effect on August 6. — VNS

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