Deputy PM urges HCM City to equitise SOEs

In his report after a working visit to HCM City in late May, Hue said the city should continue to amend its SOE restructuring plan in accordance with the Decision No 37/2014/QD-TTg in June 2014 which gives details about criteria for classifying SOEs.

The main purpose of Decision 37 was to reduce the number of sectors where the State is required to be a majority or sole shareholder and to encourage private investment.

In particular, all SOEs in the city must be restructured so that the Government’s stake will be reduced to a low level or zero when they are equitised.

Hue also asked the city to complete a master plan on the restructuring of agricultural and forestry companies under the municipal administration and submit the plan to the Government for approval.

He urged the city to identify the public service agencies which could qualify for equitisation.

Eligible units would then be submitted to the Prime Minister for approval and equitised in accordance with the Government’s Decision No 22/2015/QD-TTg on transformation of public non-business units.

Hue stressed the need for the city to seriously implement financial autonomy policies at local public service units.

In addition, the Deputy Prime Minister told the city government to outline a comprehensive plan for implementation of Resolution No 35/NQ-CP.

This new policy issued on May 16 concerns the support and development of enterprises by 2020. It emphasises the city’s role in stimulating and promoting business development.