Gov’t to further classify and equitise businesses
Gov’t to further classify and equitise businesses
Based on a recent decision issued by Prime Minister Nguyen Xuan Phuc on the classification of State-owned enterprises from 2016 to 2020, a total of 240 businesses will be listed as under government management.
Out of the 240, 103 businesses have 100 per cent of their charter capital held by the government, including 62 provincial lottery companies and the Viet Nam Lottery Company (Vietlott).
The Vietnam Railways, Vietnam Oil and Gas Group, the Electricity of Viet Nam along with three state-acquired banks of Global Petroleum Bank, Vietnam Construction Bank and Ocean Bank Vietnam will continue to be completely owned by the government.
Other businesses in important socio-economic sectors such as national defence and security, telecommunication, bill printing, gold smelting, publishing and marine insurance are also on the list.
Four notable businesses owned 65 per cent by the State are the Vietnam National Coal - Mineral Industries Group, Vietnam Bank for Agriculture and Rural Development, PetroVietnam Exploration Production Corporation and the Vinaconex investment and mineral trading Co. Ltd.
Twenty-seven State-owned enterprises at 50 per cent to 65 per cent total charter capital belonged to major fields such as telecommunication and food production, whereas 106 companies with less than 50 per cent state ownership were all sorts of major businesses, such as the Saigon Jewellery Company or the Vietnam Multimedia Corporation.
The decision is set to take effect on February 15, 2017.
