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HCM City urged to speed up equitisation of State-owned enterprises

Deputy Prime Minister Vương Đình Huệ has urged leaders of HCM City to promote and arrange the equitisation of state-owned enterprises that operate in HCM City.— Photo baodautu.vn

HCM City — Deputy Prime Minister Vương Đình Huệ has urged leaders of HCM City to promote and arrange the equitisation of state-owned enterprises that operate in HCM City.

Huệ, who is head of the Government Steering Co妹妹ittee on Corporate Renovation and Development, praised the city’s earlier steps to equitise companies in a meeting last week, but pointed out that emerging legal issues and implementation had slowed progress.

However, he noted that the Prime Minister will consider postponing equittisation of some of the city’s State-owned enterprises.

Huệ said that the city’s equitisation rate was slower than the nation’s.

He said that far more State-owned enterprises should be equitised, except in security and military. 

“The city should withdraw State capital from enterprises, even profitable ones,” he said.

The deputy PM urged the People’s Co妹妹ittee to submit a plan to the city Party Co妹妹ittee to equitise and rearrange State-owned enterprises.

“The city must identify the value of equitised State-owned enterprises, and approve land-use plans before equitisation,” he said.

The national plan for this year called for a total of  六 四 State-owned enterprises to be equitised, with  三 九 in HCM City. However, the city has not been able to equitise any enterprise this year.

“The city has prepared to equitise and rearrange State-owned enterprises for a long time, but the final plan hasn’t been approved by the city Party Co妹妹ittee. This has led to a delay in equitising and rearranging  三 九 State-owned enterprises this year,” Lê Thanh Liêm, deputy chairman of the city People’s Co妹妹ittee, explained.

The chairman of the People’s Co妹妹ittee, Nguyễn Thành Phong, said that equitisation had been delayed because many issues remained unresolved.

The issues include the role of state-owned enterprises in implementing development plans; social welfare; State benefits; foreign investors’contribution of land-use rights via investments; and value of assets located downtown.

As a result, the city said the Government would adjust equitisation progress and the divestment plan in the  二0 一 八- 二0 二0 period and after  二0 二0.

For instance, the city will equitise  三 二 State-owned enterprises in  二0 一 九 instead of  三 九 in  二0 一 八. The remaining seven enterprises will be equitised by  二0 二0.

After  二0 二0, state-owned capital in enterprises will be withdrawn under the Prime Minister’s Decision  五 八 and official letter No  九 九 一.

At the meeting, leaders confirmed that equitisation of State-owned enterprises must strictly follow the law but should also be implemented more quickly.

In a related matter, in November, the city must reduce the number of employees in administrative units, promote efficiency, and transform them into joint-stock companies, if possible. — VNS