HCMC chairman prompts SOE equitization

Ho Chi Minh City People’s Committee Chairman Le Hoang Quan instructed state-own enterprises (SOE) to build specific plans and drastically implement them to equitize 20 ones this year.

At a meeting on March 5, he instructed leaders of the companies to report difficulties to the committee. Those tardily carrying out the plan would be rearranged.

HCMC has 107 SOEs businesses with 15 having been sold or dissolved. The rest ones are withdrawing capital invested in 305 businesses.

The city has set a target to equitize 31 companies in the 2014-2015 period. The norm for 2014 is 15 businesses but only 11 have been equalized. Four others have run behind schedule because of difficulties in determining land and brand name values.

By Han Ni – Translated by Hai Mien

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