To attract foreign investment capital

(Baonghean) - The Prime Minister has issued a project to restructure State-owned enterprises, focusing on economic groups and state-owned corporations, to help State-owned enterprises have a more reasonable structure, focus on key industries and fields, and provide essential public products and services to society.Nghe An Newspaper had an interview with Mr. Dang Quyet Tien, Deputy Director of the Department of Corporate Finance (Ministry of Finance) about attracting foreign investment capital in this process.

Workers at the Nam Dan - Hanosimex textile cluster. Photo: N.Khoa

* Mr. Dang Quyet Tien, in the process of restructuring state-owned enterprises, what is the new point considered a breakthrough for the whole process?

* Deputy Director Dang Quyet Tien:The new point considered as a breakthrough of the Project chaired by the Government is to clearly define the role of SOEs as well as to evaluate the operational efficiency of SOEs in the socialist-oriented market economy. Accordingly, SOEs will be restructured to focus on key industries and fields, providing essential public products and services to society, acting as the core for the state economy to perform its leading role, being an important material force for the State to orient, regulate the economy and stabilize the macro-economy.

*According to you, in that process, what has the government done to attract investors to restructure state-owned enterprises, especially foreign investors?

*Deputy Director Dang Quyet Tien:In recent times, the Government, the Ministry of Finance and relevant agencies have taken many timely measures to remove difficulties and promote the restructuring of state-owned enterprises. Specifically, the Government has issued and implemented Decree No. 61/2013/ND-CP, Decision No. 36/2014/QD-TTg, and in 2014, passed the Enterprise Law, the Law on Management and Use of State Capital Invested in Production and Business at Enterprises, and Decree No. 81/2015/ND-CP.

The Decrees on financial supervision and performance evaluation have promoted foreign investment capital flows and domestic investment capital flows to participate in the equitization process of SOEs, while promoting fundamental innovation in the "quality" of enterprises after equitization in accordance with the goal of changing corporate governance, technology, science and technology when foreign managers participate. Limiting opportunistic investors and intermediate speculation.

* That means you highly appreciate the role of strategic investors and the participation of foreign strategic investors?

Deputy Director Dang Quyet Tien:That's right. Regarding the policy mechanism for foreign investors, the Government identifies attracting foreign investment capital as a key task, of great significance in the socio-economic development of the country. In recent times, the mechanism on equitization of enterprises has always been of interest to the Vietnamese Government and has been perfected in the direction of creating conditions for foreign investors to participate in investment and purchase of shares. In addition, the implementation of equitization must ensure publicity and transparency, investors participating in purchasing shares must have access to full information on the situation of enterprises...

On September 15, 2015, the Prime Minister issued Decision 41/2015/QD-TTg on selling shares in lots, creating conditions for investors (including foreign investors) to buy large quantities of shares in lots, on the condition that investors participating in buying shares in lots must have financial capacity, commit to long-term benefits with the enterprise, have a plan to continue using existing labor, and support the enterprise to continue developing. Even the limited ratios that have been prescribed, the State also amended in the direction that if the State can manage, the non-state economic sector can do it, the State is ready to withdraw so that enterprises and investors can participate.

*Thank you very much!

Red River (implementation)