On October 17, Deputy Prime Minister Vuong Dinh Hue had a meeting with HCM City authorities about SOEs equitisation.  

Deputy Prime Minister Vuong Dinh Hue had a meeting with HCM City authorities about SOEs equitisation

According to the deputy PM, the country has set a goal to equitise 64 SOEs, including 39 in HCM City. However, since the beginning of the year, none of SOEs in the city have been equitised.

Nguyen Thanh Phong, Chairman of the municipal people’s committee, said that it takes time to carefully consider which SOEs needed to be prioritised for equitisation first as well as how to ensure the most effective process.

HCM City authorities have proposed the government for an extension to the equitisation process. Instead of having 39 SOEs to be equitised this year, the city expects to be allowed to equitise 32 in 2019 and seven others in 2020. After 2020, the city will try to ensure divestment from SOEs as regulated by the government.

Deputy PM Hue noted that only SOEs in security and defence are prioritised to be retained.

Hue urged HCM City to early submit the equitisation plan adjustment to the prime minister for consideration.