Ministry to step up SOEs restructuring, equitisation in 2019
The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market.
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Deputy Minister of Industry and Trade Hoang Quoc Vuong said the ministry restructured the Electricity of Vietnam (EVN), the Vietnam National Coal – Mineral Industries Holding Corporation (Vinacomin) and the Vietnam National Chemical Group in 2018, and approved a list of businesses under the Vietnam National Oil and Gas Group (PetroVietnam) subject to equitisation and divestment for the 2017-2020 period.
The ministry also directed the EVN and PetroVietnam to successfully conduct their equitisation and switch Binh Son Refining and Petrochemical (BSR), the PetroVietnam Power Corporation (PVPOWER), the PetroVietnam Oil Corporation (PVOIL), the Power Generation Joint Stock Corporation 3 (EVENGENCO 3) into joint stock companies.
It is also hastening divestment from the Vietnam Engine and Agricultural Machinery Corporation (VEAM), the Machines and Industrial Equipment Corporation (MIE), the Vietnam National Petroleum Group (Petrolimex) and the Hanoi Alcohol Beer and Beverage Company (Habeco) as directed by the Prime Minister.
Procedures are being processed to transfer six businesses to the Commission for the Management of State Capital at Enterprises-
