Many public utility companies in Hanoi are on the verge of being shut down.

Deputy Prime Minister Vu Van Ninh agreed to merge five urban environmental enterprises into the Hanoi Urban Environment Company and to privatize this company in 2014; and to dissolve or declare bankruptcy the Hanoi Youth Investment and Service Company.

Reducing the number of public utility enterprises is one of the plans aimed at restructuring and privatizing state-owned enterprises in Hanoi.

This announcement indicates that, due to the limited results of recent restructuring and equitization, a significant number of enterprises still need to be restructured and equitized by the end of 2015. The Deputy Prime Minister requested that the Hanoi People's Committee focus more decisively on the restructuring, reform, and improvement of the efficiency of state-owned enterprises, develop specific plans for each enterprise, and proactively coordinate with relevant agencies to promptly resolve difficulties and obstacles.

If the matter exceeds the authority of the competent authority, it should be reported to the Prime Minister.

The Deputy Prime Minister also stated his agreement with the Hanoi People's Committee to merge five urban environmental enterprises from various districts into the Hanoi Urban Environment Company Limited and to privatize this company in 2014.

Agree to merge the Youth Park division of the Hanoi Youth Investment and Services Company Limited into the Hanoi Green Park Company Limited. Subsequently, proceed with the dissolution or bankruptcy of the Hanoi Youth Investment and Services Company Limited.

Regarding the proposal from the Hanoi People's Committee to retain the proceeds from the sale of state capital during the privatization of 100% state-owned enterprises to implement enterprise restructuring, the Deputy Prime Minister requested Hanoi to comply with current regulations. If necessary, to supplement the charter capital of state-owned enterprises, the Committee should coordinate with the Ministry of Finance to develop a plan for submission to the Prime Minister for consideration and decision.

Regarding the city's request to continue researching the model of representing the state's ownership stake, the Deputy Prime Minister also instructed Hanoi to coordinate with relevant ministries and agencies to continue researching and developing a proposal for submission to the Prime Minister for consideration and decision.

According to Dan Tri