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Gov’t commits to SOEs equitization plan in 2015

VGP – The Government would take drastic measures to speed up equitization of 432 State-owned enterprises (SOEs) and withdrawal of non-core business capital.

October 22, 2014 5:44 PM GMT+7
PM Nguyan Tan Dung made the commitment while delivering a report to the National Assembly's ongoing eighth meeting about the socio-economic performance in 2014 and tasks for 2015.
 
According to PM Dung, the Government has strengthened management and taken a series of solutions to restructure SOEs.
 
The Government also focused on the equitization process, capital withdrawal from non-core business lines, enhancement of administrative competence, business efficiency, and issuance of policies and mechanisms to extricate difficulties for enterprises.
 
Regarding the equitization plan for 432 SOEs in the 2014-2015 period, 71 enterprises were equitized in the first nine months of 2014, still a far cry from the Government's plan to privatize around 200 SOEs by the end of the year.
 
As many as 368 SOEs set up steering committees in charge of equitisation ptocess, while 257 others are determining their values.
 
In 2013, total assets of SOEs expanded by 10.4% against 2012;their ownership capital increased by 15% and revenue surged by 5%. Up to 101 out of 108 SOEs made profits with 21% posting increases in pre-tax revenue. The average rate of return on equity was 17.6%. Budget collection picked up 25%.
 
In the first half of 2014, total SOEs revenue went up 50.5%. Total pre-tax revenue touched 57.1%. Budget collection met 54.1% of the yearly target./.
 
By Kim Anh