Soes

Among 92 enterprises which must be equitised this year, there were big companies which were expected to be attractive to investors such as Vietnam Bank for Agriculture and Rural Development, Viet Nam Posts and Telecommunications Group, Viet Nam National Coal – Mineral Industries Holding Corporation Limited, Viet Nam National Chemical Group and Mobifone Telecommunications Group. … [Read more...] about Ministry gives push to equitisation of SOEs

Jakarta (VNA) – The Indonesian government is rolling out a 641.17 trillion rupiah (43 billion USD) economic recovery stimulus, bigger than previous allocations, to soften the impact of COVID-19 on micro, small and medium enterprises (MSMEs), as well as state-owned enterprises (SOEs). Finance Minister Sri Mulyani Indrawati said the “national economic recovery” programme will include a strengthened social welfare net, tax incentives, capital injections into SOEs and interest rate subsidies for MSMEs, among other measures. The government will accelerate spending to help MSMEs and SOEs, apart from a consumer spending stimulus and tax incentives for industry, Sri Mulyani said during a press conference. These efforts aim to stimulate the supply and demand for economic recovery, she noted. The government will revise again the 2020 state budget to accommodate the stimulus as it expects the budget deficit to further increase to 6.27 percent of the country’s GDP, … [Read more...] about Indonesia rolls out 43-bln-USD stimulus for MSMEs, SOEs

The rest mostly operate in irrigation, agriculture, forestry, and lottery in localities. They included the Shipbuilding Industry Corporation (Vinashin), the Vietnam Express Corporation (VEC), the Vietnam Northern Food Corporation (Vinafood), the Agriculture and Rural Development Bank (Agribank), and enterprises under the Ministry of Culture, Sports and Tourism. … [Read more...] about SOEs failed to disclose business information to be punished

Some projects have been approved without environmental impact assessment reports or raised total investment by a huge margin, like Bung River 2 hydroelectric project which increased capital by VND2.867 trillion ($124.65 million), while Ban Chat hydroelectric project raised it by VND7.334 trillion ($318.87 million) and Trung Son hydroelectric project by VND1.324 trillion ($57.57 million). … [Read more...] about Numerous SOEs under special financial supervision

PM Nguyen Xuan Phuc will preside over a conference on reform and enhancement of operation efficiency for SOEs in the next couple of weeks. Deputy PM Hue recently gave comments on the conference which would take place in late September or early October. The Deputy PM tasked ministries, ministerial-level agencies, local authorities, SOEs to report restructuring progresses; send outcomes to the Ministry of Finance (MoF), the Ministry of Planning and Investment (MoPI), and the Office of Government before September 25. The MoF is responsible for presenting a summary report on SOEs restructuring process, tasks, solutions to raise operation of SOEs. The MoPI is in charge of delivering a report on policies in favor of SOEs operation including a draft law on enterprises, a draft decree on operation of SOEs, a decision on SOEs classification criteria, and a list of capital withdrawal. The Ministry of Natural Resources and Environment was asked to prepare for and present a report on … [Read more...] about PM to chair conference on SOEs reform