In order to speed up the equitization and divestment and limit the loss of state-owned capital and assets in the process of equitization, divestment and restructuring of state-owned enterprises, on 29/29/05 In November 2022, the Prime Minister issued Decision No. 1479/QD-TTg (“Decision 1479”) approving the Plan to reorganize state-owned enterprises (“SOE”) for the period of 2022 – 2025. Specifically:
- Maintainance of 195 single-member limited liability companies of which 100% charter capital is held by the State. In particular, in the locality, the State requires to maintain 100% of capital of enterprises, mainly operating in the lottery and irrigation service industries. Particularly for Hanoi city, enterprises with 100% capital held by the State also include companies and corporations operating in the field of clean water supply, urban management, urban greenery, and tourism (Hanoitourism Corporation) and transportation (Hanoi Transport Corporation).
- Equitization implementation in the period of 2022 – 2025 for 19 enterprises, in which:
Enterprises of which state-owned capital is 50% in maximum, including:
|
No. |
Name of company |
Ownership repesentative agency |
|
1 |
Nead - Technology Application and Development One Member Company Limited |
Ministry of Science and Technology |
|
2 |
Technical And Vocational Education and Training Equipment Single – Member Limited Liability Company |
Ministry of Labor, Invalids and Social Affairs |
|
3 |
Hanoi Agricultural Produce and Foodstuff Import Export One Member Company Limited |
Ministry of Agriculture and Rural Development |
|
4 |
Housing and Urban Development Corporation |
Ministry of Construction |
|
5 |
Cao Bang Investment and Environment One Member Company Limited |
People's Committee of Cao Bang province |
|
6 |
Da Nang General Printing One Member Company Limited |
People's Committee of Da Nang city |
|
7 |
Hanoi Investment Export Import and Contruction Development One Member Company Limited |
People's Committee of Hanoi city |
|
8 |
Investment Trade For Urban Development One Member Limited Company |
People's Committee of Hai Phong city |
|
9 |
Nghe An Infrastructure Development Construction Investment Limited Company |
People's Committee of Nghe An province |
|
10 |
Quang Ngai Investment Construction and Services Trading One – Member Limited Company |
People's Committee of Quang Ngai province |
|
11 |
My Tho Urban Construction Company Limited |
Tien Giang province |
In the remaining 8 enterprises, 7 will be required to maintain the State's ownership ratio from above 50% to 65%, particularly, the Vietnam Bank for Agriculture and Rural Development will subject to the ratio of at least 65%.
- Specification of the plan to divest capital and maintain the state capital for each enterprise, in which, the divestment plan is divided into two main phases: 2022 – 2023 and 2024 – 2025.
Note:
- Enterprises being under: the Ministry of Health, the People's Committee of Ho Chi Minh City, the People's Committee Hai Duong provincial and other enterprises not specified in this Decision (not subject to transfer to the State Capital Investment Corporation) shall be arranged according to the plan approved by the Prime Minister.
- Enterprises of which the divestment and equitization plans have yet been approved before November 29, 2022: The ownership representative agency adjusts the state share ratio when developing the plans according to the Plan for the period of 2022 – 2025.
- Enterprises of which the divestment and equitization plans have been approved: Implement accordingly and continue to develop a new plan to divest at the rate specified in the Plan for the period of 2022 – 2025.
- Subsidiary company as a single-member limited liability company with 100% charter capital held by (a) state-owned enterprise(s) arranged according to Decision No. 26/2019/QD-TTg shall continue the arrangement until the Project for restructuring 100% state-owned single-member limited companies is approved by competent authorities.
Decision 1479 came into force from the issuance date. Accordingly, Decision No. 26/2019/QD-TTg dated August 15, 2019 on the approval of the list of enterprises to be equitized until the end of 2020 and Decision No. 908/QD-TTg dated June 29, 2020 on the approval of the list of state-owned enterprises to be divested until the end of 2020 was officially expired.
Comment: