Government gets $9.4bln from State-owned enterprise equitisation

However, the SOE equitization process still remains slow. An utmost effort from ministries, sectors, and State-owned enterprises for the best result in equitising SOEs and divesting State capital from businesses, Vietnam News Agency cited Deputy Prime Minister Truong Hoa Binh at the meeting of the commttee on Thursday.

State capital divestment is still behind schedule. Under the plan approved for 2017-2020, divestment at 348 enterprises is to be completed, but 92 has been carried out, equivalent to 26.4%.

Binh blamed the problem on the slow revision of regulations on equitisation and divestment as well as the lax implementation of the land law and the law on the management and use of public assets, while noting that many enterprises waited until the equitisation process began before beginning to address land-related issues.

Some ministries, sectors, localities, and SOEs haven’t been serious in completing the task, he said, adding that the COVID-19 outbreak has had an adverse impact in every socio-economic regard, including equitisation, divestment, and the stock market, not to mention certain existing barriers to the private sector development.

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Source: Vietnam Plus