City SOEs say to divest VND3.3 trillion

Source: Pano feed

Van Nam

Leaders of SOEs sign divestment agreements in HCMC on April 14 - PHOTO: VAN NAM

Leaders of SOEs sign divestment agreements in HCMC on April 14 - PHOTO: VAN NAM

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