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PM approves list of SOEs to carry out divestment in 2020

Prime Minister Nguyen Xuan Phuc has issued Decision 908/QD-TTg approving the list of State-owned enterprises (SOEs) to implement divestment of State capital in 2020, which comprises 120 enterprises.

In addition, there are four SOES that should complete divestment before November 30 this year. In case it cannot be done, those four will be transferred to the State Capital Investment Corporation (SCIC) before December 31. They are the Song Hong Corp, the Hanoi Construction Corporation-JSC, the Construction Corporation No. 1-JSC, and the Viet Nam Urban And Industrial Zone Development Investment Corporation, all under the Ministry of Construction.

The decision also named 14 enterprises to be transferred to the SCIC before August 31 this year in order to implement divestment.

Besides, 69 enterprises will suspend divestment until the end of this year in order to review and build rearrangement and divestment plans for 2021-2025.

The divestment at enterprises under the Ministry of Defence, Ministry of Public Security, the People’s Committee of Ho Chi Minh City, and enterprises not listed in the decision will be carried under plans approved by authorized agencies.

The decision aims at accelerating the divestment of State capital in enterprises where the State does not need to hold a stake, and the process of restructuring SOEs./