Handover of State-owned groups and corporations completed
With an agreement inked on November 15 between the Ministry of Agriculture and Rural Development (MARD) and the Committee for Management of State Capital (CMSC), under which five State-owned enterprises (SOEs) will be transferred from the former to the latter, the handover of a total of 19 State-owned groups and corporations from all ministries to the “super committee” has been completed, as directed by the government.
The Ministry of Agriculture and Rural Development inks an agreement to transfer its ownership of State capital in five agriculture SOEs to the Committee for Management of State Capital on November 15. (Photo: VNA)
According to a report from the Vietnam News Agency, the five agricultural SEOs include the Vietnam Rubber Group (VRG), the Vietnam Forestry Corporation (VinaFor), the Vietnam National Coffee Corporation (VinaCafe), the Vietnam Northern Food Corporation (VinaFood1), and the Vietnam Southern Food Corporation (VinaFood2), which have a combined asset of about VND50 trillion ($2.15 billion), among which VRG possesses the largest capital, of VND40 trillion ($1.72 billion), and close to half a million hectares of cultivation land.
The news agency quoted Deputy Minister of Agriculture and Rural Development Ha Cong Tuan as telling the signing ceremony that these five companies are important and have greatly contributed to Vietnam’s economic restructuring and development, adding that they play a vital role in ensuring social welfare, food security, and national defense.
He expects that after the handover, the CMSC will closely work with MARD and relevant agencies to continue improving the SOEs’ operational efficiency and accelerate their restructuring process.
The transfer agreement with MARD was the fifth and also the last the CMSC signed, after those with the Ministries of Industry and Trade, Finance, Transport, and Information and Communications.
Vietnam Airlines, Airports Corporation of Vietnam (ACV), the Vietnam Railway Corporation (VNR), the Vietnam Expressway Corporation (VEC) and Vietnam National Shipping Lines (Vinalines) from the Ministry of Transport, the State Capital Investment Corporation (SCIC) from the Ministry of Finance, and the Vietnam Oil and Gas Group (PetroVietnam), Electricity of Vietnam (EVN), the Vietnam National Coal - Mineral Industries Holding Corporation Ltd. (Vinacomin), the Vietnam National Chemical Group (Vinachem), the Vietnam National Petroleum Group (Petrolimex), and the Vietnam National Tobacco Corporation (Vinataba) from the Ministry of Industry and Trade, among others, were previously handed over to the CMSC.
The transfer of the SOEs is to realize Resolution No. 12-NQ/TW, issued at the fifth sitting of the 12th Party Central Committee in June 2017, which decided to set up a specialized governmental body to represent the ownership of State capital in SOEs.
The CMSC, headed by Mr. Nguyen Hoang Anh, former Secretary of northern Cao Bang province’s Party Committee, came into being in late September.
As at December 31 last year, the total value of State equity in these 19 firms topped VND1,000 trillion ($34.8 billion) while their combined asset was valued at VND2,300 trillion ($80.04 billion).
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