Deputy PM requests completion of SOE restructuring projects for approval in Q1
Deputy Prime Minister Ho Duc Phoc has called for stronger efforts to complete the restructuring projects of State-owned enterprises (SOEs) for approval within the first quarter of this year.
Speaking at a conference of the Steering Committee for Enterprise Innovation and Development for the 2021-2026 period on January 3, Phoc emphasised the need for more drastic solutions to address difficulties and bottlenecks in the restructuring of SOEs in 2025, particularly in corporate and land asset valuation.
The committee's report revealed that, to date, 117 out of 667 SOEs have had their restructuring projects approved, focusing their operations on core sectors and industries.
The plans to address 12 inefficient projects under the management of the Ministry of Industry and Trade have been largely completed. Notably, four of these projects have turned profitable and are now able to repay their debts on time.
Representatives from the SOEs, including Petrovietnam, Viettel, VNPT, VRG, EVN, and Agribank, emphasised the necessity of addressing bottlenecks in capital divestment. They also called for enhancements in the legal framework governing foreign capital divestment at SOEs, alongside improvements in corporate governance regulations, tax policies, and investments in power sources.
Additionally, they stressed the importance of institutional improvements to bolster the accountability of SOE leaders.
In response, the Deputy PM called for an acceleration of the privatisation process to enhance the production and business efficiency of the SOEs. He urged relevant ministries and agencies to conduct thorough evaluations of privatization efficiency.
The Deputy PM emphasised the need to enhance the legal framework, particularly the Law on Management and Use of State Capital Invested in Production and Business at Enterprises, with a spirit of innovation.
He urged the SOEs to focus on modernising technologies and equipment, while also improving the quality of human resources and corporate governance to boost operational efficiency.
Phoc stated that the SOE restructuring project must be completed and approved within the first quarter of this year. He called on relevant ministries, agencies, localities, and SOEs to collaborate and address issues to expedite the process.
