Criteria for transforming public non-business units into joint-stock companies

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The Prime Minister has just promulgated the criteria and list of branches and domains to transform public non-business units into joint-stock companies.

Accordingly, public non-business units shall be transformed into joint-stock companies when satisfying the following criteria: Firstly, self-guaranteeing all regular operating expenses in the latest year at the time of implementation or able to self-finance all regular operating expenses after transformation.

Besides, the units must be on the list of transforming into a joint-stock company according to regulations to have a plan to continue to provide services with good quality.

20 sectors, areas of transformation

The decision states that public non-business units will be transformed into joint-stock companies. The State holds less than 50% of the charter capital or no shareholding in public non-business units operating in the following branches and domains:

1- Exploitation, production, and supply of clean water;

2- Drainage and waste water treatment;

3- Environmental hygiene;

4- Lighting;

5- Producing, storing seeds of plants and animals;

6- Consultancy services in the areas such as urban planning, accounting, auditing, taxation, property valuation, market research, public opinion polls, business;

7- Technical support services for scientific research and technological development; activities related to intellectual property, technology transfer, standards, technical regulations, measurement and quality of products and goods; services on information, consultancy, training, fostering, dissemination and application of scientific and technological achievements in socioeconomic fields;

8- Information on the labor market, employment services, supporting the development of labor relations, sending Vietnamese laborers to work abroad under contracts;

9- Ensuring essential needs for product development and improving the materials and spiritual life of ethnic minority people in mountainous, remote and isolated areas;

10- Management and maintenance of road and inland waterway systems;

11- Management and maintenance of wharves and car terminals;

12 - Technical inspection of motorized transport and waterway vehicles;

13- Construction inspection;

14- Inspections of occupational safety techniques;

15- Driving training and testing;

16- Trading in premises for trade fairs, trade promotion, and investment;

17- Support services, information, and promotion of tourism;

18- Real estate management; management of markets, trade centers;

19- Business of guest houses, motels and short-term stay and meeting services;

Write-off more than 1 billion VND of tax debts for 2 joint-stock companies VCN- The General Department of Vietnam Customs has issued Decision 2287/QD-TCHQ dated July 14th 2017 and Decision 2306/QD-TCHQ ...

20- Development of infrastructure of industrial parks, industrial clusters and support services in industrial parks.