Huynh Trung Lan, deputy head of the HCMC Steering Committee for Enterprise Reform and Development, said 14 corporations under the management of the city government will have to divest less than VND3.62 trillion from non-core businesses this year.
Their divestments in the first quarter of this year totaled VND307 billion. Lan said it is a tough task for these SOEs to beat the divestment target of over VND3.3 trillion in the three remaining quarters of this year.
HCMC vice chairman Le Manh Ha said SOEs’ divestments have been processing slowly.
At the signing ceremony, leaders of the SOEs promised to get the job done; otherwise, they would face sanctions by the HCMC government.
Saigon Jewelry Company Limited is one of the SOEs. This year, the firm will have to divest VND116 billion from Viet A Joint Stock Commercial Bank, VND235 billion from Saigon Diamond Joint Stock Company and VND255 from Eximbank.
Statistics of the HCMC Steering Committee for Enterprise Reform and Development showed the combined divestments of SOEs in HCMC were only VND30 billion in 2013 and nearly VND578 billion last year.
The city plans to let all SOEs under its umbrella go public by 2017. The city selected 31 candidates for equitization in 2012-2015 but equitized only a dozen SOEs last year.
As scheduled, the city will have 19 SOEs equitized this year and 48 thereafter.
One year ago, leaders of 29 SOEs in HCMC signed agreements promising to put equitization schemes on fast track in 2014-2015.
Last year saw local SOEs post combined revenue of nearly VND78 trillion and profit of over VND8.53 trillion. The respective targets for this year are more than VND82.7 trillion and over VND7.74 trillion.
|List of SOEs committed to divestmentSaigon Industrial Corporation|
Saigon Trading Corporation
Saigon Jewelry Company Limited
Saigon Agriculture Corporation
Ben Thanh Trading and Service JSC
Saigontourist Holding Company
Saigon Transportation Mechanical Corporation
Saigon Real Estate Corporation
Tan Thuan Industrial Promotion Company
Saigon Pharmaceutical Company
Saigon Cultural Products Corporation
Liksin Industry-Printing-Packaging Corporation
Saigon Water Corporation
Saigon Construction Corporation
Đăng ký: VietNam News