Bac Giang speeds up equitization of State-owned enterprises

Update: 16:02 | 13/05/2018

(BGO) – On May 9, Nguyen Thi Thu Ha, Vice Chairwoman of the Bac Giang province People’s Committee, head of the steering committee on business renovation and development in Bac Giang, presided over a conference on rearranging and transforming State-owned enterprises, withdrawing State capital from joint stock companies, and reviewing and transforming public units into joint stock companies. Representatives of a number of departments and agencies attended the event. 

Bac Giang province, speeds up, equitization process, State-owned enterprises, State capital, public units, joint stock companies

An overview of the meeting.

According to the provincial Department of Planning and Investment, Bac Giang has 19 State-owned enterprises, including seven member limited liability company with 100 percent of its chartered capital held by the State; four joint stock companies whose 51 percent of capital belongs to the State; and eight joint stock companies with less than 51 percent of capital owned by the State. The provincial People’s Committee has devised concrete plans on capital divestment for each unit.

However, the implementation of the plans has remained sluggish and met various difficulties. A number of businesses got losses and moved their assets without informing authorized management agencies.

Other shortcomings include limitations in appointing representatives of State capital in several companies, loose management and negligence in assessing capacity and operation of enterprises, resulting in losses.

After hearing opinions, Nguyen Thi Thu Ha asked relevant departments and agencies to seriously implement instructions of the provincial People’s Committee to speed up the rearrangement and transformation of the State-owned enterprises.

The equitisation of the Industrial Park Infrastructure Development Company must be completed in June 2018, she said, calling for efforts to ensure capital divestment in other enterprises this year.

Bac Giang province, speeds up, equitization process, State-owned enterprises, State capital, public units, joint stock companies

Vice Chairwoman of the provincial People’s Committee Nguyen Thu Ha speaks at the meeting.

The official urged the Departments of Planning and Investment, and Finance to soon coordinate with each other in rolling out capital divestment plans at State-owned enterprises in the locality, and speed up capital contribution to put Yen The Forestry Two Members Ltd., Co. and Luc Ngan Forestry Two Members Ltd., Co. into operation in July 2018.

Besides, it is necessary to review bottlenecks in Mai Son Forestry One Member Ltd., Co. and Luc Nam Forestry One Member Ltd., Co. and report the outcomes to the provincial People’s Committee.

The Department of Home Affairs was asked to soon appoint representatives of State capital at the Industrial Park Infrastructure Development Company, while re-evaluating capacity of enterprises and submitting a management mechanism of representatives of State capital at businesses to the provincial People’s Committee in May.

Van Thuong

 
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