Nghe An divests 100% of capital in 6 enterprises

Nghe An has 10 state-owned joint stock companies that are permitted by the Government to have the People's Committee of Nghe An province act as the representative of the state capital ownership. 6 state-owned enterprises that do not need to hold shares include: Nghe An Aquaculture Seed Joint Stock Company, Nghe An Planting Seed Joint Stock Company, Nghe An Plant Protection Service Joint Stock Company, Nghe An Trading Joint Stock Company, Mountainous Development Investment Trading Joint Stock Company, Nghe An Irrigation Construction and Installation Mechanical Joint Stock Company.

The Provincial People's Committee has decided to sell all state capital in these enterprises.

Currently, 4 companies: Nghe An Plant Protection Services Joint Stock Company, Nghe An Trading Joint Stock Company, Mountainous Development Investment Trading Joint Stock Company, Nghe An Irrigation Construction and Installation Mechanical Joint Stock Company have sold all state capital. 2 companies have not sold all state capital, by the end of 2017, the Provincial People's Committee continues to direct the sale of the remaining state capital, which are Plant Seed Joint Stock Company; Aquaculture Seed Joint Stock Company.

Agricultural Materials Corporation has become the controlling shareholder of Nghe An Seed Company. Photo: Tran Chau

For 3 LLCs for Investment and Development of Tea, Coffee, Rubber, and Agriculture 3/2.

Mr. Nguyen Van Lap, Deputy Director of the Department of Agriculture and Rural Development, said: The Provincial People's Committee has issued Decision No. 2923/QD-UBND to convert 3/2 Agricultural Industry One Member Co., Ltd. into a joint stock company, in which the state does not hold controlling shares.

Regarding 1/5 Agricultural LLC, currently Nghe An Sugarcane LLC (NASU) has withdrawn from participating as a partner to establish a 2-member LLC when restructuring 1/5 LLC, so the Department of Agriculture and Rural Development has issued a document directing 1/5 LLC to report and find another suitable partner.

For the two Forestry One Member Co., Ltd. Tuong Duong and Con Cuong: Based on the land use plans of the companies that have been appraised by the Department of Natural Resources and Environment, the Department of Agriculture and Rural Development has examined the restructuring and innovation projects of the two companies and submitted them to the Provincial People's Committee for approval.

The guiding spirit of Nghe An is to promote the arrangement and equitization of state-owned enterprises; sell state capital in enterprises that the State does not need to hold, including enterprises that are operating effectively under market mechanisms, creating opportunities for private sector enterprises to develop.