Prime Minister: Do not use the budget to 'save' trillion-dollar projects that are shelved
Presenting the direction for handling the recent loss-making projects worth thousands of billions of VND by the Ministry of Industry and Trade, the Government leader affirmed that businesses must balance their own resources to solve difficulties.
The Government Office has just announced the conclusion of Prime Minister Nguyen Xuan Phuc at the regular Government meeting to discuss handling the existing weaknesses and inefficiencies of a number of projects and enterprises in the Industry and Trade sector.
According to this conclusion, the Prime Minister emphasized the Government's viewpoint,The government will not put money into "rescue"Do not continue to invest directly in projects; instead, corporations and general companies proactively balance resources to resolve difficulties and problems and take responsibility for effectiveness.
"Handling loss-making projects and enterprises must minimize loss of state assets and follow market principles. Failure must not affect the efficiency of other enterprises," the document stated the Prime Minister's instructions.
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Ha Bac Nitrogenous Fertilizer Plant is one of 12 trillion-dollar loss-making projects that will be completely resolved in 2018. |
Assessing the recent loss-making projects of enterprises under the Ministry of Industry and Trade due to many reasons and will continue in the coming time,Government leaders require a comprehensive and objective assessment of the production and business situation of loss-making enterprises in order to have urgent solutions.suitable
The Ministry of Industry and Trade is assigned as the specialized State management agency responsible for presiding over and directing each unit to have the earliest, most synchronous and effective handling plan to avoid loss of state assets. The Government has also established a Steering Committee to handle loss-making projects under the direction of the Deputy Prime Minister.Prime Minister Vuong Dinh Hue is the Head of the Committee.
Currently, there are a total of 12 projects and works with investment capital of thousands of billions that are losing money, which have been "named" by the management agency, including: Dinh Vu Fiber Factory; Phuong Nam Pulp Factory project; Thai Nguyen Iron and Steel Factory Phase 2 project; Dung Quat Bio-Ethanol Biofuel Factory and Ninh Binh Fertilizer Factory; Ha Bac Fertilizer Factory; Lao Cai DAP 1 Fertilizer; Hai Phong DAP 2; Binh Phuoc Ethanol; Phu Tho Ethanol; Dung Quat Shipbuilding Factory; Joint Venture project between Quy Sa Mine partner and Lao Cai Iron and Steel Factory.
Responding to the press at a recent meeting, Minister of Industry and Trade Tran Tuan Anh said the situation at the above projects has been going on for a long time, even before the group and corporation were assigned to the Ministry of Industry and Trade as the managing ministry. In 2018, this agency will completely resolve the above loss-making projects.
"The legal regulations and framework related to corporate governance at that time were still sketchy and revealed many shortcomings," he assessed. In addition to handling loss-making projects based on the principle of "not losing state capital", the head of the Ministry of Industry and Trade also affirmed that he would "clarify the causes and handle the responsibilities of related individuals and groups".
According to VNE
