HCM City aims for more equitised SOEs in 2015 - HCM City aims for more equitised SOEs in 2015 - Website Ho Chi Minh City
Nineteen State-owned enterprises (SOEs) operating in Ho Chi Minh City have committed to completing equitisation in 2015.
This is expected to help the city achieve its target of equitising 31 SOEs in accordance with the Government’s plan in the 2013-2015 period.
Accordingly, these enterprises must propose the municipal People’s Committee to approve decisions on enterprises’ asset value announcement, equitisation plans, organisation of initial public offerings (IPOs), and first-time shareholders’ meetings.
Vice Chairman of the municipal People’s Committee Le Manh Ha said these enterprises should strictly implement their commitments because this year is the deadline for the work.
Ha stressed the need to retain the trade name of their enterprises in the equitising process, saying that this is important to increase their production and business efficiency.
The local authorities will focus on simplifying administrative procedures so as to create favourable conditions for the enterprises to accelerate the equitisation.
According to the municipal People’s Committee, the city has converted 11 SOEs into shareholding companies by the end of 2014 .
The equitisation helped create a new investment climate, attract social investments and form more multi-sector companies, encouraging investors to apply new governance methods and technologies for their business development.