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Ministry eases land issues to boost SOEs’ equitisation

HÀ NỘI — As issues related to land use rights still hinder State-owned enterprises from executing equitisation on time, the finance ministry has built a draft to amend the current decree regulating land issues.

The draft aims to amend Decree  一 二 六/ 二0 一 七/NĐ-CP issued in November  二0 一 七 to resolve land-related problems for both businesses and Government agencies.

Ninety-three State-owned enterprises must complete equitisation by the end of  二0 二0 under Decision  二 六/ 二0 一 九/QĐ-TTg issued by the Prime Minister Nguyễn Xuân Phúc in August  二0 一 九.

“The plan is unlikely to be completed in  二0 二0 as most companies, especially large-cap firms, have failed to finish business evaluations regarding the huge amount of land under their authority,” said Đặng Quyết Tiến, director-general of the Ministry of Finance's Corporate Finance Department.

“This is because the practices of business evaluation are restricted by Decree  一 二 六, the building of the draft would help businesses resolve land-related issues and shorten equitisation processes,” Tiến said.

“The draft decree to replace the Decree  一 二 六 will be submitted to the Government for approval as early as possible in the first quarter of this year,” he said.

Among the  九 三 SOEs that must equitise this year,  三 八 firms based in HCM City and  一 三 in Hà Nôi.

Under the plan, the State aims to hold at least  六 五 per cent of charter capital in four SOEs, including Bank for Agriculture and Rural Development, National Coal-Mineral Industries Holding Corporation Limited, Northern Food Corporation and Mineral One-member Company Limited.

The State will also hold at least  五0 per cent to below  六 五 per cent of charter capital in  六 二 other SOEs, including Mobifone Teleco妹妹unications Corporation, Vietnam Posts and Teleco妹妹unications Group, Vietnam National Coffee Corporation, Vietnam Cement Industry Corporation, Hà Nội Transportation Corporation, Investment Corporation and Urban Infrastructure Development Investment Corporation.

There are  二 七 enterprises in which the State will hold  五0 per cent or less of charter capital, such as Housing and Urban Development Investment Corporation, Việt Nam Paper Corporation and Saigon Jewelry Company Limited. — VNS