State-owned groups and enterprises have brought back VNĐ6.84 trillion (US$301 million) to the State coffer during their divestment process in 2016, according to the Finance Ministry.
State-owned economic groups and corporation withdrew investment worth VNĐ450 billion in five sensitive fields, while other SOEs collected VNĐ2.27 trillion. The remainder came from the sale of State capital in enterprises.
The ministry also reported that 56 SOEs received approval for their equitisation plans in the year. They had total capitalisation value of more than VNĐ34 trillion ($1.5 billion), including VNĐ24.4 trillion of State capital.
Đặng Quyết Tiến, deputy director of the Ministry’s Department of Corporate Finance, said State-owned economic groups, corporations and enterprises have actively implemented the scheme on SOEs restructuring in accordance with the Prime Minister’s Decision No. 929/QĐ-TTg.
This was a positive development in the context that many new policies have been put into practice this year although businesses have struggled in the more competitive environment, Tiến said.
He added there are regulations requiring equitised enterprises to list on the stock market and the Government has recently issued Decree No. 145, under which sanctions can be imposed on firms violating the rule.
According to the new rule, enterprises who do not register trading or listing of their shares within the prescribed time or delay this process will be fined from VNĐ10 million to VNĐ400 million depending on the duration of the delay.