Agriculture ministry presses ahead with SOE equitisation

Deputy Minister of Agriculture and Rural Development Ha Cong Tuan (Photo: VNA)

The Deputy Minister made the request at a conference to review the ministry’s performance in restructuring enterprises in 2018 and announce plans for the next two years on January 10. 

Specifically, he urged the early completion of the balance sheet, the second time, of State-owned capital in the Vietnam Tea Corporation and the Vietnam General of Agriculture Material Corporation Limited to hand over to the equitised corporations. The balance sheet for the Vietnam National Vegetable, Fruit and Agricultural Product Corporation Limited must be completed within the first quarter of this year, he said.  

Deputy Minister Tuan also required competent agencies to decide the date for the evaluation of the value of the Ha Long Seafood, build the rearrangement plan for the Hanoi Agrexport, and equitise or dissolve the Agriculture Publishing House.  

He added that the ministry will accelerate the sale of State capital in Navetco and Vetvaco in an open and transparent manner. 

According to Dang Vu Tran, Deputy Director of the Department for Enterprise Management, the Ministry of Agriculture and Rural Development (MARD) will complete the transfer of the State capital ownership representative rights to the State Capital Investment Corporation (SCIC) during 2019-2020 in accordance with instructions of the Prime Minister. 

For public non-business units under its management, the MARD will submit to the Prime Minister for approval a list of units to be converted into equitised companies. 

During 2018, the MARD equitised the Vietnam Rubber Group along with its 20 subsidiary companies and the Vietnam Southern Food Corporation, and divested 100 percent of State capital at the Vietnam Sugarcane and Sugar Corporation II. 

The ministry also transferred to the SCIC the State capital ownership representative rights in five corporations, namely the Vietnam Rubber Group, the Vietnam Northern Food Corporation, the Vietnam Southern Food Corporation, the Vietnam National Coffee Corporation and the Vietnam Forestry Corporation.