Need to remove obstacles to accelerate restructuring of state-owned enterprises
Currently, most corporations and general companies must carry out equitization when implementing their enterprise restructuring projects. However, when carrying out equitization according to the provisions of Decree No. 59/2011/ND-CP on converting 100% state-owned enterprises into joint stock companies, they encountered some difficulties in the mechanism, leading to the conversion being prolonged and not ensuring the prescribed time.
Illustration photo. Source: Internet.
According to Director of the Institute of Financial Strategy and Policy Vu Nhu Thang, the regulation in Decree 59/2011/ND-CP on the plan for arranging and handling houses and land before determining the value of enterprises must be sent to localities for comments within 30 days is too short and difficult to implement; the State Audit organization auditing the results of re-determining the value of enterprises and handling finances for economic groups, state-owned corporations, large-scale enterprises with state capital of over 500 billion VND, enterprises operating in specific fields and industries will not be guaranteed to comply with the prescribed time limit; the requirement for equitized enterprises to conduct a reconciliation of all debts up to the time of determining the value of enterprises is difficult...
In recent times, Vietnam has identified restructuring of State-owned enterprises, focusing on State-owned corporations and groups, as one of the three urgent key tasks in the process of restructuring the country's economy as a whole. The goal of restructuring State-owned enterprises is to improve the business efficiency of State-owned enterprises, strengthen the leading role of State-owned enterprises in the economy, and form strong State-owned enterprises that are competitive enough in the context of increasingly deep and wide international integration as it is today.
Accordingly, on July 17, 2012, the Prime Minister issued Decision No. 929/QD-TTg approving the Project "Restructuring State-owned enterprises, focusing on economic groups and State-owned corporations in the period of 2011 - 2015" with the following objectives: State-owned enterprises have a more reasonable structure, focusing on key sectors and fields, providing essential public products and services for society and national defense and security, 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. Improving competitiveness and return on equity for business enterprises; completing the task of producing and supplying essential public products and services for society, national defense and security for public enterprises.
As of July 30, 2013, 48 Central-level enterprises have had their restructuring plans approved, of which the Prime Minister approved 17 units, including 8 Groups: Vietnam Textile and Garment, Vietnam Electricity, Vietnam Coal and Minerals, Vietnam Oil and Gas, Chemicals, Vietnam Rubber, Vietnam Shipbuilding Industry, Military Telecommunications; and 9 special Corporations: Paper, Tobacco, Northern Food, Southern Food, Vietnam Coffee, Maritime, Aviation, Railway, and Cement Corporations. In addition, the governing Ministries approved 31 units, including Vietnam Air Traffic Management Corporation, Vietnam Automobile Industry, Waterway Construction, Transport Design Consulting, etc.
There are 101 local enterprises that have developed projects to submit to the competent authority, of which 20 Corporations and Companies have had their projects approved.
In the coming time, the Government needs to continue to improve related policy mechanisms such as: Decree amending and supplementing a number of articles of Decree No. 59/2011/ND-CP on converting 100% state-owned enterprises into joint stock companies; amending and supplementing regulations on the establishment, reorganization and dissolution of state-owned enterprises in accordance with the Enterprise Law to create a legal basis for ministries, localities, economic groups and state-owned corporations to reorganize 100% state-owned enterprises.
According to.haiquan.online-PH