Some solutions to promote equitization and divestment of state capital

On March 6, the Government issued Resolution No. 15/NQ-CP on a number of solutions to promote equitization and divestment of state capital in enterprises.

Accordingly, the Government assigned ministries, People's Committees of provinces and centrally run cities, Boards of members of economic groups, state-owned corporations, Boards of members, and Chairmen of state-owned enterprises to thoroughly grasp and do well the ideological work according to the Party's resolutions and conclusions on continuing to arrange, innovate, develop and improve the efficiency of state-owned enterprises.

(Illustration photo: Thanh Vu/VNA)

On the other hand, based on the 2011-2015 restructuring project approved by competent authorities, direct enterprises under their management to develop plans and progress of equitization and submit them to the equitization decision-making agency for approval for implementation; develop plans and progress of divestment of invested capital outside the main production and business sectors and fields (except for special cases as decided by the Prime Minister) and submit them to the competent authority for approval for implementation.

The Resolution clearly states that in case the equitization and divestment of state capital cannot be carried out according to the plan approved by competent authorities, the board of members of state-owned corporations and groups, the board of members and chairmen of state-owned enterprises must clarify objective and subjective causes, determine the responsibility of relevant collectives and individuals in handling the slow equitization and divestment of state capital at enterprises, and report to competent authorities for consideration and handling according to regulations.

The Resolution also outlines solutions for divestment activities outside the main production and business sectors according to the restructuring project approved by competent authorities, in addition to the provisions in Decree No. 71/2013/ND-CP dated July 11, 2013 of the Government on state capital investment in enterprises and financial management for enterprises in which the State holds 100% of charter capital, economic groups, corporations, and state-owned enterprises.

In addition, the Resolution also clearly stipulates the consideration and acquisition of investments outside the main production and business sectors of corporations, state-owned corporations, and 100% state-owned companies in the insurance and banking sectors after implementing the measures stated in this Resolution but failing to divest capital and other sectors according to assigned functions and tasks; principles for developing plans for divestment of state capital in enterprises under the ownership representation of sector management ministries, people's committees of provinces and cities, state banks, and state capital investment and trading corporations./.

According to VNA