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Ministry unveils draft on SOEs reform (29/12)
29/12/2011 - 12 Lượt xem
Under the draft, SOEs operating in the non-finance sectors will be banned from investing in the banking, securities, insurance, and real estate sectors.
Those which are operating in such industries are required to completely divest from them by 2015.
Meanwhile, the draft also stipulates that the government does not necessarily hold stakes in the enterprises whose business is mainly trading activities.
The SOEs are also subject to a four-group categorization by 2015.
The first group will include the SOEs in which the government holds a 100 percent stake; those which operate in the fields of national defense, pubic security, and key infrastructure development; and the monopolies requiring government control.
The second group will feature SOEs with more than 75 percent of total registered capital held by the government; those operating in the manufacturing sectors; or those providing public welfare services and ensuring the development of the mountainous, rural, and remote areas of the country.
SOEs whose controlling interests (more than 65 percent total registered capital) are held by the government will belong to the third group. They are the leading enterprises in applying modern production technology, those who make a large contribution to the state budget, and those which take the role of stabilizing the market in many sectors and industries.
The last group will include SOEs in which the government holds no controlling interest.
The Ministry of Finance said the reform plan aims to establish SOEs of a large scale. It is targeting to have three to five major SOEs join the ranks of the region’s leading economic groups, and 10 to 15 state-run corporations and groups take the leading role in the country’s economic development.
Figures from the finance ministry show that as of October this year, the country is home to 1,309 enterprises with 100 percent stake held by the government, most of which belong to the state-run economic groups and corporations.
These enterprises have total assets worth VND1,800 trillion and only reaped profits worth VND117 trillion, while generating 1.2 million jobs with an average income per capita of only VND3.5-5 million.
Meanwhile, according to the Ministry of Planning and Investment, the SOEs account for as much as 70 percent of the total social investment, 50 percent of the government’s investment, 60 percent of the commercial banks’ credits, and 70 percent of the Official Development Assistance (ODA) fund.
Sourece: Tuoitre
Those which are operating in such industries are required to completely divest from them by 2015.
Meanwhile, the draft also stipulates that the government does not necessarily hold stakes in the enterprises whose business is mainly trading activities.
The SOEs are also subject to a four-group categorization by 2015.
The first group will include the SOEs in which the government holds a 100 percent stake; those which operate in the fields of national defense, pubic security, and key infrastructure development; and the monopolies requiring government control.
The second group will feature SOEs with more than 75 percent of total registered capital held by the government; those operating in the manufacturing sectors; or those providing public welfare services and ensuring the development of the mountainous, rural, and remote areas of the country.
SOEs whose controlling interests (more than 65 percent total registered capital) are held by the government will belong to the third group. They are the leading enterprises in applying modern production technology, those who make a large contribution to the state budget, and those which take the role of stabilizing the market in many sectors and industries.
The last group will include SOEs in which the government holds no controlling interest.
The Ministry of Finance said the reform plan aims to establish SOEs of a large scale. It is targeting to have three to five major SOEs join the ranks of the region’s leading economic groups, and 10 to 15 state-run corporations and groups take the leading role in the country’s economic development.
Figures from the finance ministry show that as of October this year, the country is home to 1,309 enterprises with 100 percent stake held by the government, most of which belong to the state-run economic groups and corporations.
These enterprises have total assets worth VND1,800 trillion and only reaped profits worth VND117 trillion, while generating 1.2 million jobs with an average income per capita of only VND3.5-5 million.
Meanwhile, according to the Ministry of Planning and Investment, the SOEs account for as much as 70 percent of the total social investment, 50 percent of the government’s investment, 60 percent of the commercial banks’ credits, and 70 percent of the Official Development Assistance (ODA) fund.
Sourece: Tuoitre
