Deputy Prime Minister Vuong Dinh Hue at the event (Photo: VNA) Hanoi(VNA) – Deputy Prime Minister Vuong Dinh Hue chaired a meeting of the SteeringCommittee for Business Renovation and Development in Hanoi on July 8 to reviewequitisation, divestment and restructuring of State-owned enterprises (SOEs) andcorporate development in the first half and tasks for the remaining months ofthis year.
The committeereported that it collected over 5.5 trillion VND (240 million USD) in revenuefrom SOEs equitisation and divestment in January – June. Since 2016, as many as162 SOEs have been equitised with a total value of over 205 trillion VND, or108 percent recorded during 2011-2015. Revenue from initial public offerings topped24.8 trillion VND.
As of June, 796SOEs were yet to register for listing on the stock market.
Since early thisyear, there have been more than 66,900 newly-established companies with a totalregistered capital of over 860 trillion VND. Over 21,600 others have resumedoperations while more than 7,800 shut down, and more than 21,800 temporarily waitedfor dissolution.
As of June, therewere 737,000 firms operating nationwide.
However, theprogress of SOEs equitisation and divestment remains slow due to the lack ofdrastic directions by ministries, agencies and localities, delay in calculationof corporate value and land use approval.
Representativesfrom several groups and corporations said they meet difficulties in trademarkpricing, and issues regarding intellectual property right, cultural andhistorical values when it comes to calculating starting price upon divestment.
Hue, who is alsohead of the committee, requested ensuring transparency and safety for theissuance of corporate bonds.
He asked theFinance Ministry and the State Bank to review the situation and submit acorporate bond issuance plan to the government for consideration, which mustdetail quota, criteria and credit rankings for the process.
The Deputy PM urgedministries and agencies to review relevant legal documents to promptly clearobstacles.
The Ministry ofPlanning and Investment must work with relevant ministries and agencies to holda conference discussing the guiding role of major SOEs and groups inconnectivity and renovation.
The Ministry ofNatural Resources and Environment was asked to review regulations on theapproval of State land use plan by equitised SOEs, and issue a Circular guidingthe implementation of Decree No.126/2017/ND-CP on conversionfrom SOEs and one-member limited liability companies with 100 percent ofcharter capital invested by SOEs into joint-stock companies. - VNA
The committeereported that it collected over 5.5 trillion VND (240 million USD) in revenuefrom SOEs equitisation and divestment in January – June. Since 2016, as many as162 SOEs have been equitised with a total value of over 205 trillion VND, or108 percent recorded during 2011-2015. Revenue from initial public offerings topped24.8 trillion VND.
As of June, 796SOEs were yet to register for listing on the stock market.
Since early thisyear, there have been more than 66,900 newly-established companies with a totalregistered capital of over 860 trillion VND. Over 21,600 others have resumedoperations while more than 7,800 shut down, and more than 21,800 temporarily waitedfor dissolution.
As of June, therewere 737,000 firms operating nationwide.
However, theprogress of SOEs equitisation and divestment remains slow due to the lack ofdrastic directions by ministries, agencies and localities, delay in calculationof corporate value and land use approval.
Representativesfrom several groups and corporations said they meet difficulties in trademarkpricing, and issues regarding intellectual property right, cultural andhistorical values when it comes to calculating starting price upon divestment.
Hue, who is alsohead of the committee, requested ensuring transparency and safety for theissuance of corporate bonds.
He asked theFinance Ministry and the State Bank to review the situation and submit acorporate bond issuance plan to the government for consideration, which mustdetail quota, criteria and credit rankings for the process.
The Deputy PM urgedministries and agencies to review relevant legal documents to promptly clearobstacles.
The Ministry ofPlanning and Investment must work with relevant ministries and agencies to holda conference discussing the guiding role of major SOEs and groups inconnectivity and renovation.
The Ministry ofNatural Resources and Environment was asked to review regulations on theapproval of State land use plan by equitised SOEs, and issue a Circular guidingthe implementation of Decree No.126/2017/ND-CP on conversionfrom SOEs and one-member limited liability companies with 100 percent ofcharter capital invested by SOEs into joint-stock companies. - VNA
VNA
