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HCMC aims to equitise SOEs in 2015

Update: February, 10/2015 - 09:22
The People's Committee in HCM City plans to equitize 19 State-owned enterprises (SOEs) in 2015.— Photo vietnamnet

HCM CITY (VNS)  — By the end of 2015, 19 State-owned enterprises (SOEs) operating in HCM City expect to complete the equitisation process.

This is expected to help the city achieve its target of equitising 31 SOEs under a 2013 to 2015 Government initiative.

The municipal People's Committee must approve the enterprises' decisions to equitise. The committee will study the companies' asset value announcements, equitisation plans, the organisation of their initial public offerings (IPOs) and first-time shareholders' meetings before giving their approval.

Le Manh Ha, vice chairman of the municipal People's Committee, said the enterprises should stick to their commitments, as the deadline is approaching. Companies must retain their trade names during the equitisation process. This will help increase production and business efficiency.

Local authorities will focus on simplifying administrative procedures to create favourable conditions for the enterprises to accelerate equitisation.

According to the municipal People's Committee, the city had converted 11 SOEs into shareholding companies as of the end of 2014.

Equitisation has helped create a new investment climate, attract social investments and form more multi-sector companies. It has also encouraged investors to use new governance methods and technologies in their business development efforts, according to the committee. — VNS

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