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Target to only have 333 State-owned enterprises

14:06 | 29/10/2016

VCN- At a meeting about the State divestment and transaction registration on the stock market, Mr. Nguyen Trong Dung, the Deputy Head of the Steering Committee for Innovation and Enterprise Development - the Government Office said that in the first 10 months of 2016, the Government implemented the divestment of 60 State-owned enterprises. Until now, there are only 718 State-owned enterprises.

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Mechanical manufacture at CNS Amura Precision Company under Saigon Industrial Corporation. Photo: N.Hien.

Mr. Dung said, in 2001, State-owned enterprises operated in 60 sectors, but now they only focus on 19 sectors, with a decrease in the number of State-owned enterprises but the scale of each enterprise has increased dramatically.

State-owned enterprises have basically focused on key sectors which provide essential products and public services to the society and national defense, security and economy in order to be the leading forces in the implementation of State tasks, including orientation, regulations and macroeconomic stability.

Regarding the equitization of State-owned enterprises, from 2011 to date, Vietnam has carried out the equitization of 547 State-owned enterprises and 3 State organizations. Thus, until now, there have been 4,502 State enterprises equitized, including 1 economic group, 47 State corporations and many State enterprises with a large scale and business operations in many sectors. Besides, a number of State-owned enterprises operating in the field of production, supply of products and public services have been also equitized, which has gained positive results.

Regarding the divestment in State-owned enterprises, from 2011 to 2015, Vietnam promulgated a number of mechanisms and policies on State divestment to accelerate the divestment progress and improve the efficiency of State divestments. Accordingly, Vietnam has implemented the divestment of 26,222 billion vnd (book value), collected about 36,537 billion vnd (1.4 times book value). In particular, the Government has carried out the divestment of 9,835 billion vnd for State investment enterprises, collected 11,086 billion vnd; and carried out the divestment of 16,387 billion vnd for other State enterprises and collected 25,451 billion vnd.

Regarding the equitization plan for 2016-2020, Mr. Dung said, there will be only 333 State-owned enterprises. In particular, there will be 190 State enterprises with 100% of charter capital, 4 State enterprises with more than 65% of charter capital. In addition, the Government will own 50-65% of the capital in 30 State enterprises and own less than 50% of charter capital in 109 State enterprises.

At the meeting, Mr. Nguyen Hong Hien, the Deputy Director of SCIC said that until September 2016, in nearly 1,000 enterprises for divestment, SCIC has successfully carried out the divestment of 928 State enterprises with the capital of 6,199 billion vnd and collected 14,675 billion vnd. In particular, the Government has sold out the capital of 830 State enterprises, sold a part of the capital of 79 State enterprises and sold purchase rights of 19 enterprises. The collection from the sale of capital is 2.5 times the original capital, and 1.48 times the national average in 2011-2015.

Mr. Hien said that the most important thing for the sale of capital of SCIC with high efficiency is to carefully research the market to determine initial price reasonably, an appropriate period for the sale, build and maintaining a network of interested investors, and implement the sale transparently.

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Mr. Hien added that the experience of SCIC in the sale of State capital is appreciated by many State enterprises, corporations and companies to speed up the restructure, privatization and divestment in State enterprises.

By Nguyen Hien/ Hoang Anh