Additional 5 enterprises approved for Equitization
Illustrative photo. |
According to the Ministry of Finance, the total actual value of 48 enterprises approved for equitization was 31,905 billion vnd and the actual value of the State capital of these enterprises was 23,280 billion vnd.
Under the equitization plan approved by the competent authorities, the charter capital of the 48 enterprises was 23,019 billion vnd, of which State capital was 11,092 billion vnd; 7,473 billion vnd of strategic investors, 342 billion vnd of workers, 6.7 billion vnd of labour unions and the number of shares sold at public auction was 4,103 billion vnd.
Regarding the divestment of capital, in the first 8 months of 2016, these enterprises withdrew 2,921 billion vnd and collected revenues of 5,767 billion vnd.
Corporations and State-owned enterprises withdrew 381 billion vnd and collected revenues of 424 billion vnd in 5 sensitive areas. Outside 5 sensitive areas, corporations and State-owned enterprises withdrew 1,261 billion vnd and collected revenues of 1,968 billion vnd.
The State Capital Investment Corporation (SCIC) withdrew 1.277 billion vnd and collected revenues of 3,374 billion vnd.
In response to the press recently, Mr. Dang Quyet Tien, the Deputy Director of Corporate Finance Department, the Ministry of Finance stated: “With the number of remaining enterprises for equitization not high, mainly large enterprises, the current progress of the equitization plan is still "acceptable". The most important matter in the current period is the quality of the equitization and efficiency of corporate governance.
Regarding a number of measures to promote equitization in the near future, Mr Tien said: “In the process of equitisation, the caution to avoid losses is the priority of functional authorities under Politburo Resolution. Therefore, the functional authorities have realized that the valuation of enterprises still has many shortcomings.
"We also proposed to the Government to allow the State Audit Office of Vietnam to review and determine the valuation of enterprises; and assess the quality of the consulting firm to ensure the accuracy of this operation", said Mr Tien. These solutions will create more confidence for investors to update information about the enterprises.
Currently, the Ministry of Finance is also submitting the Government to amend Decree No 59/2011/ ND-CP on transformation of enterprises with 100% State capital into joint-stock companies. Specifically, the Ministry of Finance proposed to open up some forms of sale of shares and added more contents of decentralization to agencies of State-owned enterprises, to reduce administrative procedures and create more opportunities for the Steering Committee with more plans of equitization.
Although the details mentioned above are still to be revised, a representative of the Ministry of Finance said that the functional authorities should not wait for the promulgation of the new Decree, but could consult the Prime Minister to implement immediately, in order to ensure the highest efficiency, prevent fraud, losses and avoid slowness of implementation.
Circular 12 of the Ministry of Industry and Trade causes problems VCN- The regulations of the Ministry of Finance which require enterprises in cooperation with the Customs authorities ... |
These solutions are expected to resolve the problems of equitization which has been ineffective in recent times.
Related News
Vietnam ready to export first batch of sweet potatoes to China
13:57 | 06/04/2023 Anti-Smuggling
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Latest News
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
More News
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance
Consider raising the level of penalties to ensure fairness and transparency in the stock market
13:27 | 04/04/2023 Finance
Central bank cuts policy interest rates to spur growth
17:43 | 02/04/2023 Finance
Ensure policies to attract investment when implementing global minimum tax
10:33 | 02/04/2023 Finance
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks
20:30 | 01/04/2023 Finance
Solutions to attract FDI when implementing the global minimum CIT
11:38 | 01/04/2023 Finance
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba
13:43 | 31/03/2023 Finance
Being many "hot" issues at the general meeting of shareholders of banks
09:24 | 30/03/2023 Finance
Bringing the policies on reducing land rent and water surface rent into life
15:41 | 29/03/2023 Finance
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance