Prime Minister: Do not use the state budget to 'rescue' stalled trillion-dong projects.

Regarding the handling of the Ministry of Industry and Trade's recent trillion-dong loss-making projects, government leaders affirmed that businesses must balance their own resources to overcome difficulties.

The Government Office has just announced the conclusions of Prime Minister Nguyen Xuan Phuc at the Government's Standing Committee meeting on addressing the shortcomings and inefficiencies of some projects and enterprises in the Industry and Trade sector.

In this conclusion, the Prime Minister emphasized the Government's position,The government will not spend money on "rescue".Instead of continuing to invest directly in projects, corporations and conglomerates should proactively balance their resources to address difficulties and obstacles, and take responsibility for the results.

"Handling loss-making projects and businesses must minimize the loss of state assets and adhere to market principles. Failure should not negatively impact the efficiency of other businesses," the document states, citing the Prime Minister's directive.

The Ha Bac Fertilizer Plant is one of 12 trillion-dong loss-making projects that will be definitively resolved by 2018.

The assessment of the recent loss-making projects of enterprises under the Ministry of Industry and Trade is due to many reasons and is expected to continue for some time to come.Government leaders have requested a comprehensive and objective assessment of the business performance of loss-making enterprises in order to take prompt action.Suitable.

The Ministry of Industry and Trade is assigned as the specialized state management agency responsible for leading and directing each unit to develop the earliest, most coordinated, and effective solutions to avoid the loss of state assets. The Government has also established a Steering Committee to handle loss-making projects, headed by the Vice President.Prime Minister Vuong Dinh Hue serves as the head of the committee.

Currently, a total of 12 projects and works with trillion-VND investment capital that have incurred losses have been identified by management agencies, including: Dinh Vu Fiber Plant; Phuong Nam Pulp Mill project; Thai Nguyen Steel Plant Phase 2 project; Dung Quat Bio-Ethanol Fuel Plant and Ninh Binh Fertilizer Plant; Ha Bac Fertilizer Plant; Lao Cai DAP 1 Fertilizer Plant; Hai Phong DAP 2 Fertilizer Plant; Binh Phuoc Ethanol Plant; Phu Tho Ethanol Plant; Dung Quat Shipyard; and the joint venture project between Quy Sa Mine and Lao Cai Steel Plant.

Speaking to the press at a recent meeting, Minister of Industry and Trade Tran Tuan Anh stated that the problems at these projects have been ongoing for a long time, even before the corporations and general companies were transferred to the Ministry of Industry and Trade as the governing body. In 2018, the Ministry will definitively resolve the issue of these loss-making projects.

"The legal regulations and framework related to corporate governance at that time were rudimentary and revealed many shortcomings," he assessed. Besides addressing loss-making projects based on the principle of "not causing losses to state capital," the head of the Ministry of Industry and Trade also affirmed that he would "clarify the causes and hold individuals and groups accountable."

According to VNE