Equitization of state owned enterprises earn $290 million for budget this year

Fifty six state owned enterprises (SOEs) have been equitized, bringing VND6,569 billion ($290 million) since early this year.

A production line of Vietnam Dairy Products Joint Stock Company, one of state owned enterprises that have been equitized successfully (Photo: SGGP)

Specifically these enterprises’ total real value hit VND34,017 billion, of which the government has withdrew VND3,558 billion from the companies, bringing $290 million.

The Prime Minister is about to approve the state owned enterprise restructuring project in the phase of 2016-2020, which will prompt ministries, agencies and businesses to increase transparence, publicize equitization information and intensify inspection over the process.

The Ministry of Finance has proposed state capital representatives at equitized enterprises to speed up them to list on the stock market as per regulations. Authorized agencies should strictly handle enterprise leaders who implement the equitization project inefficiently.

By Che Han – Translated by Hai Mien

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