The Government approved the equitization plan of Song Con One Member Co., Ltd.

(Baonghean.vn) - Deputy Prime Minister Vuong Dinh Hue signed an official dispatch (No. 901/TTg-DMDN dated June 27, 2017), approving the plan to restructure Song Con Agricultural One Member Co., Ltd. (Nghe An) in the form of converting it into a joint stock company, with the State not holding controlling shares.

The Deputy Prime Minister requested the People's Committee of Nghe An province to be responsible for determining the proportion of State capital that needs to be held when equitizing Song Con Agricultural One Member Co., Ltd. according to the provisions of Decree No. 118/2014/ND-CP dated December 17, 2014 of the Government on arrangement, innovation and development, improving the operational efficiency of agricultural and forestry companies and the actual situation.

Rubber processing at Song Con Agricultural Company Limited. Photo courtesy: Chau Lan

The approval decision also requires the People's Committee of Nghe An province to urgently implement the steps to equitize Song Con Agricultural Company Limited in accordance with current regulations of the State. The Company's land use plan is implemented in accordance with regulations; at the same time, the Company is directed to use the land for the right purpose, and when changing the land use purpose, it must be approved by the competent authority in accordance with the approved planning of the province and the provisions of law.

For land areas assigned to localities, plans must be made to manage and use them in accordance with the provisions of Decree 118/2014/ND-CP dated December 17, 2014 of the Government on arrangement, innovation, development, and improvement of operational efficiency of agricultural and forestry companies.

Before submitting to the Government for approval, the People's Committee of Nghe An province reviewed the operations and land fund, state-owned assets at the company and held many meetings to discuss plans to organize the joint stock company Song Con Agriculture One Member Co., Ltd.

In the upcoming roadmap, Nghe An Provincial People's Committee will continue to convert and equitize 12 agricultural and forestry enterprises in the area.

» Plan to reorganize 12 state-owned enterprises in Nghe An

PV