List of SOEs subject to capital withdrawal announced

09:24 | 25/08/2017 Society

Authorized by the PM, Deputy PM Vuong Dinh Hue has inked Decision No. 1232/QD-TTg approving a list of State-owned enterprises (SOEs) and groups subject to state capital divestment in the 2017-2020 phase.

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The Decision is aimed at accelerating the State capital withdrawal at enterprises in line with the middle-term public investment plan in 2016-2020 as well as the process of restructuring the SOEs.

Under the Decision, the State will withdraw capital from as many as 406 enterprises, with 135 in 2017, 181 in 2018, 62 in 2019 and 28 in 2020. The total divested volume is estimated at VND 65 trillion.

The Decision also specified the annual minimum rates of capital divestment from the aforesaid businesses.

The Government encouraged ministries, agencies and localities to increase the divested rates (as stated in the Decision) and add more businesses to the list subjected to state capital withdrawal provided the process is carried out effectively, openly and transparently.

The Decision is an important step as investors could easily access to information on equitization and divestment, said Dang Quyet Tien, Vice Director General of the Financial Department under the Ministry of Finance.

Theo VGP