The Vietnam National Coffee Corporation (VINACAFE) will begin equitisation in the third quarter of this year, according to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.
Hanoi (VNA) – The Vietnam NationalCoffee Corporation (VINACAFE) will begin equitisation in the third quarter ofthis year, according to Deputy Minister of Agriculture and Rural Development HaCong Tuan.
VINACAFE has over 34,000 hectares of land,of which coffee growing area accounts for 16,000 hectares. Most of the areasare owned by farmers, which may hamper the company’s equitisation.
According to a representative from theMinistry’s Department of Enterprises Management, VINACAFE equitisation remains slow.Among 18 state-owned enterprises which are VINACAFE’s subsidiaries, only fivehave been equitised.
In order to speed up the process, VINACAFEhas asked the Ministry to adjust the equitisation process. The mother company wantsto be equitised at the same time with its subsidiaries to lure investors. By usingthis method, VINACAFE will be equitised on schedule while raising themanagement capability of VINACAFE after equitisation and retaining land andemployees.
According to the plan to equitise VINACAFEfrom 2015 – 2017 approved by the Prime Minister, the State will hold 51 percentof total shares of VINCAFE.-VNA
The Vietnam National Coffee Corporation (Vinacafe) will be equitised in 2017, following a directive of the government on restructuring the HCM City-based company.
The Ministry of Agriculture and Rural Development (MARD) is determined to punish those whose lack of responsibility led to the prolonged equitisation of State-owned enterprises (SOEs), said MARD Deputy Minister Ha Cong Tuan.
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Packaging Vinacafe products (Source: VNA) 
