Deputy Prime Minister Vuong Dinh Hue at the working session on on February 6 (Photo: baochinhphu.vn)Hanoi (VNA) –The Ministry of Construction (MoC) plans to finish equitising 16 State-ownedenterprises (SOEs) under its management by 2020.
The information was released by MoC MinisterPham Hong Ha at a working session in Hanoi on February 6 with relevant agencieson the re-organisation of SOEs and companies with State capital managed by theMoC.
The firms include Development Investment ConstructionJSC (DIC), Song Hong Corporation, Bach Dang Construction Corporation, VIGLACERACorporation, Vietnam Water and Environment Investment Corporation (VIWASEEN),Hanoi Construction Corporation, LICOGI Corporation, LILAMA Corporation,Construction Corporation No.1 (CC1), FiCO Corporation, Vietnam ConstructionConsultant Corporation (VNCC), Construction Machinery Corporation (COMA),Housing and Urban Development Corporation (HUD), Song Da Corporation, VietnamUrban and Industrial Zone Development Investment Corporation (IDICO), andVietnam Cement Industry Corporation (VICEM).
Twelve of the companies have begun the equitisationprocess while four others (Song Da, IDICO, HUD and VICEM) were recently addedto the list of SOEs subject to re-organisation between 2016 and 2020.
Minister Ha said these enterprises own a hugeamount of assets while employing hundreds of thousands of workers.
The ministry proposed the rate of State capitalat LICOGI be unchanged and the State-owned stake in the company be transferredto the State Capital Investment Corporation (SCIC) in the first quarter of2017.
For LILAMA, VICEM, Song Da, VIGLACERA and HUD whichare either holding a large amount of assets or are building key nationalprojects, the rate of State capital will be reduced to 51 percent to ensure theState’s controlling stake there through 2020. The State stake in those fivewill be further reduced in the following years.
In the remaining ten corporations and joint stocks companies, the State-owned stake willbe reduced to 36 percent which will be transferred to the SCIC or designatedagencies to manage in 2018 and 2019.
Ha said the ministry will continue to instructthe divestment of State capital from affiliates and associated companies of itscorporations in the next four years.
At the session, Deputy Prime Minister Vuong DinhHue, head of the Steering Committee for Enterprise Reform and Development,asked the MoC to complete a roadmap for divesting and transferring the right torepresent State ownership at SOEs to fully protect the State’s interests.
He also instructed the MoC to bring the Statestake in LILAMA, VICEM, Song Da, VIGLACERA and HUD to below 51 percent by 2019by the latest, while the sale of all State capital in the other 10 corporationsand joint stock companies should be completed in 2018.
Hue also requested theministry accelerate the listing of equitised businesses in the stockmarket.-VNA
VNA
