State- owned enterprises must ensure progress of equitization - State- owned enterprises must ensure progress of equitization - Website Ho Chi Minh City
On March 30, Vice Chairman of HCMC People’s Committee Le Manh Ha chaired a meeting with State-owned enterprises in HCMC. Mr. Ha reviewed reports on progress of equitization and divestment of these enterprises as committed with HCMC People’s Committee in February 2015.
According to reports, time for initial public offering (IPO) will be slower than plan from 1-2 months, most enterprises are committed to speed up the progress on time.
In term of divestment, some enterprises such as Saigon Trade Corporation, Saigontourist, SJC mentioned some difficulties, barriers of regulations of the State Bank of Vietnam for divestment at banks, financial and credit funds. So the divestment till now is not implemented. Many enterprises suggested that leaders of HCMC need to review their proposals to speed up the progress of divestment.
Mr. Le Manh Ha requested enterprises to closely follow their commitments of equitization to keep up with the planned progress and to regularly report. HCMC Board of Business Management Innovation is responsible of reminding enterprises by documents to ensure the schedule of equitization. In term of divestment, Mr. Le Manh Ha requested that enterprises who faced difficulties of polices can send their proposed solutions to HCMC Board of Business Management Innovation. Then, HCMC People’s Committee will submit to The State Bank of Vietnam, The State Securities Commission of Vietnam for consideration and support. He also mentioned that Department of Public Assets Management puts the progress of equitization and divestment of enterprises on the list of year end emulation.