Gov’t vows to speed up SOEs equitization

The draft Decree was presented by Minister of Finance Vũ Văn Ninh, according to a resolution on the meeting, which took place in Hà Nội on April 28-29.

Following discussions, the Ministry of Finance was assigned to collect opinions from the Cabinet members for finalizing the document and submit it to the PM for consideration and issuance.

According to the Decree No.109/2007/NĐ-CP, equitization aims to mobilize capital from both domestic and foreign investors for raising the efficiency and competitiveness of the national economy.

“Vietnam persists in equitizing SOEs as we regard the process as an important, fundamental part of the renewal process,” PM Nguyễn Tấn Dũng affirmed at his recent meeting with World Bank Vice President James Adams on the sidelines of the 44th ADB annual meeting in Hà Nội.

In coming years, the Government will work to further improve the related legal framework in a bid to accelerate the equitization process, the PM stressed.

He also admitted that the process has slowed down over the past years, pointing to the impacts from the global financial crisis and economic downturn as the reason behind it. – Chinhphu

Tags: Vietnam companies, Vietnam enterprises, Vietnam SOEs