The MARD has equitised 12 corporations and companies directly subordinate to it and three science-technology businesses under the ministry’s institutes and universities He urged for quicker equitization of SOEs under the ministry’s management at a meeting in Hanoi on February 14. MARD Minister Nguyen Xuan Cuong said equitization is an opportunity for SOEs to revitalise but it also poses a lot of challenges. Equitization must be carried out in line with law and in a transparent fashion so as to prevent losses and protect the State’s interests, he noted, stressing that in the process, the head of each agency and SOE must be held responsible. Deputy Minister Tuan reported that from 2011 to 2016, the ministry took strong actions to re-organise, reform and restructure its SOEs, reaping encouraging outcomes. The MARD has equitised 12 corporations and companies directly subordinate to it and three science-technology businesses under the ministry’s institutes and … [Read more...] about Agriculture ministry vows to push forward with SOE equitization
Equitization
Vietnam to postpone equitizing Mobifone until 2019 on failed deal
The Hanoitimes - After receiving full refund from AVG, the Ministry of Information and Communications (MIC) will conduct the valuation process of Mobifone as part of the equitization later on. The MIC in a document submitted to the Prime Minister informed that it is expected to complete the equitization process of Vietnam Mobile Telecom Services Company (Mobifone) in 2019, VietnamFinance reported. Illustrative photo. The government in July 2017 approved the list of state-owned enterprises (SOEs) to be equitized during the course of 2017 - 2020, of which Mobifone would be scheduled to complete equitization in 2018. On February 28, 2017, Deputy Prime Minister Vuong Dinh Hue requested the MIC to revaluate Mobifone after Prime Minister Nguyen Xuan Phuc had approved the Government Inspectorate (GI)'s inspection result to the telco's controversial acquisition of TV pay service provider Audio Visual Global (AVG). "Currently, the MIC and Mobifone are … [Read more...] about Vietnam to postpone equitizing Mobifone until 2019 on failed deal
Ho Chi Minh City plans to equitize sole gold bullion producer SJC in 2019
The Hanoitimes - Since 2012, Saigon Jewelry Company (SJC) has been the only firm holding the exclusive rights in Vietnam for gold bullion production. Ho Chi Minh City plans to equitize SJC - Vietnam's largest gold bar trader, and seven other state-owned firms in 2019, according to the government portal. Illustrative photo. Under the proposal of the city's board for State-owned enterprise (SOE) management reform, the list includes printing and packaging Liksin Corporation, public services companies of districts of 7, 8, 9, Binh Thanh, Go Vap and Nha Be, which are in line with the plan to reform state-owned enterprises (SOEs) in the 2018 - 2020 period. The city also approved transferring management of the wholly state-owned Ho Chi Minh City Lottery Company from Ho Chi Minh City Finance and Investment Company to the municipal People's Committee. Meanwhile, the city is expected to ask the government to exclude Ho Chi Minh City Irrigation Management Company … [Read more...] about Ho Chi Minh City plans to equitize sole gold bullion producer SJC in 2019
SOE equitization far slower than expected
SOE equitization far slower than expectedBy Lan Nhi Petro Vietnam Power Corporation is one of few state-run companies to have gone public in January-July – PHOTO: TL HANOI – Though 85 State-owned enterprises (SOEs) have been planned to undergo equitization this year, only 19 of them went public in January-July, according to the Steering Committee for Enterprise Reform and Development. The committee’s report, recently sent to the Government, showed that the equitization process of SOEs is much slower than the plan approved by the Prime Minister. The 85 SOEs to be equitized this year include 21 firms transferred from last year, and 64 firms from this year. Specific equitization targets in HCMC and Hanoi are 39 and 11 firms, respectively, or 61% and 17.1% of the plan. However, none of these have been equitized. As for divestments of State capital at firms, the process is also moving slowly, as only 17 out of 135 firms divested State capital last year. … [Read more...] about SOE equitization far slower than expected
Vietnam calls for Canadian firms to join SOE equitization process
Vietnam calls for Canadian firms to join SOE equitization processThe Saigon Times Daily Vietnam and Canada sign several memoranda of understanding on cooperation at the business roundtable in Quebec, Canada on June 8 - PHOTO: VNA HCMC – Prime Minster Nguyen Xuan Phuc has called for Canadian companies to get involved in the process of equitizing State-owned enterprises (SOEs) in Vietnam. At a roundtable between Vietnamese and Canadian firms in Quebec held on June 8 during Phuc’s visit to Canada, the event was aimed at promoting economic ties between Vietnam and Canada, Tien Phong newspaper reports. Phuc said Vietnam’s gross domestic product (GDP) expanded 6.81% in 2017, the highest growth rate in 10 years. Foreign trade reached US$425 billion and fresh foreign direct investment (FDI) approvals amounted to around US$37 billion last year, he added. Vietnam’s consumer demand has grown stronger with average per capita income reaching around US$2,400, or … [Read more...] about Vietnam calls for Canadian firms to join SOE equitization process