SOE equitisation falling behind schedule: ministry

The equitisation of State-owned enterprises (SOEs) is lagging behind schedule as only 75 SOEs were equitised during the first ten months of this year, the Ministry of Finance said on November 3.

SOE equitisation falling behind schedule (Photo: VNA)
The equitised businesses were among 96 firms that were reorganised during the reviewed period, the ministry said, adding that it expects about 200 businesses will be equitised this year. Meanwhile, the target is 432 companies in the 2014-2015 period.

The ministry attributed the slowness of reform to a lack of determination and drastic measures in some ministries, localities and companies, along with impacts of the world’s financial crisis and domestic economic difficulties on the financial and stock markets, thus affecting SOEs’ public offering plans.

To accelerate the equitisation process, the ministry said it will continue perfecting equitisation policies and mechanisms, enhance the supervision over State-owned corporation and economic groups, and task businesses’ executives with greater responsibility for ensuring restructuring outcomes and progress.

SOE equitisation is part of economic restructuring stated in the National Assembly’s Resolution No.10/2011/QH13 on the socio-economic development plan for 2011 to 2015. The restructuring is also implemented in public investment and the banking system.

Source: VNA

Other news