The Official Letter of the Ministry of Finance on accelerating the work of equitization, divestment and restructuring of state-owned enterprises

Published on 05 - 07 - 2022
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On 04/7/2022, the Ministry of Finance issued the Official Letter No. 6388/BTC-TCDN on accelerating the equitization, divestment and restructuring of state-owned enterprises.

According to the Official Letter, in order to speed up the equitization, divestment and restructuring of state-owned enterprises (SOEs), the Ministry of Finance proposes ministries, ministerial-level agencies, government-attached agencies, and the People's Committees of the provinces and centrally-run cities to pay attention to and direct the implementation of a number of the following contents:

- To implement the assigned tasks in the Resolution No. 68/NQ-CP, the Decision No. 360/QD-TTg, the Decision No. 22/2021/QD-TTg dated July 2, 2021 of the Prime Minister on “The criteria for classifying SOEs and the ones that carry out ownership transformation, rearrangement and divestment in the 2021-2025 period” and the Official Telegram No. 478/CD-TTg. To perform the proposal of the Ministry of Finance in the Document No. 5899/BTC-QLCS dated June 22, 2022 on the review, rearrangement and handling of housing and land facilities of state-owned enterprises.

- As the head of the Owner's Representative Agency:

+ To direct economic groups, state corporations and SOEs under their management to review and evaluate the results of enterprise restructuring, build and approve according to their competence or submit to competent authorities for approval; organize and supervise the effective implementation of the Enterprise Restructuring Project for the period of 2021 - 2025.

+ To report on the approval status and implementation results of the approved restructuring project for the period of 2021 - 2025 of economic groups and state-owned corporations, and send it to the Ministry of Finance, the Ministry of Planning and Investment and the Steering Committee for Enterprise Innovation and Development in accordance with the provisions of the Decision No. 360/QD-TTg.

+ To carry out the equitization and divestment of state capital in enterprises under its management according to the plan approved by the Prime Minister, ensuring compliance with regulations, publicity, transparency and efficiency of the state capital in the enterprise.

+ In case of delay or violation of regulations on equitization and divestment of state capital in enterprises, it is necessary to clearly define the responsibilities of relevant organizations and individuals, especially the head on the arrangement and privatization, divestment, restructuring of SOEs, the performance of related tasks and works; consider the performance of tasks and the results of the arrangement, equitization, divestment and restructuring of SOEs as a criterion for evaluating related agencies, units, collectives and individuals.

+ To report on the observance of regulations on depository registration, trading registration, and listing on the stock market for equitized enterprises, and send it to the Ministry of Finance every six months and annually to summarize reports to the Prime Minister.

+ To promptly handle or propose solutions, report to competent authorities to handle difficulties and obstacles in the process of equitization, divestment and restructuring of SOEs.

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