Accelerate equitization and divestment of state capital according to schedule

Lai Vu Industrial Park One Member Co., Ltd. still faces many difficulties in the equitization process.

Many problems

The reorganization, innovation and divestment of state capital are key tasks that the city is interested in in order to release capital from inefficient enterprises, creating investment revenue for infrastructure and economic development. However, the work of reorganization, equitization and divestment of state capital is currently facing many difficulties and long-term backlogs.

According to the plan, Urban Development Investment Trading Company Limited must complete equitization in the period of 2023 - 2025. However, due to problems in the Cat Bi Airport New Urban Area Project invested by the enterprise, so far it has not been possible to issue a decision to implement equitization.

This project is large-scale, lasting since 1998, with many problems regarding site clearance, financial handling, assets and debts. The Department of Finance is synthesizing and reporting to the City People's Committee to propose the Prime Minister to allow the equitization of the company to be transferred to the 2026 - 2030 period, after the project is completed by the end of 2025.

Pursuant to Decision 184/QD-TTg dated February 2024 of the Prime Minister on restructuring state-owned enterprises and enterprises with state capital, by the end of 2025, Lai Vu Industrial Park One Member Co., Ltd. must be equitized. The proportion of state capital expected to be held after equitization is 50% or less.

The representative of Lai Vu Industrial Park One Member Co., Ltd. informed that currently, the equitization work still has some problems related to the approval of the final settlement of the Lai Vu Industrial Park Infrastructure Construction and Business Investment Project; the business strategy and 5-year investment and development plan of the company in accordance with legal regulations have not been approved; handling of leased land areas that are slow to be put into use according to regulations...

As one of the 100% state-owned enterprises, Hai Duong Trading and Service Company is located in the center of Hai Duong city (old) but operates ineffectively, does not meet the conditions for equitization. The company is instructed to complete bankruptcy procedures. At the request of the tax authority, the Department of Finance sent a document requesting the court to accept the petition to open bankruptcy proceedings against this company.

According to information from the Department of Finance, after the merger, the People's Committee of Hai Phong City is exercising the rights and responsibilities of the State ownership representative agency for 46 enterprises, including 18 enterprises with 100% charter capital held by the State and 28 enterprises with state capital contributions. Of these, 11 enterprises and 5 joint venture enterprises must divest capital in 2025 according to the Prime Minister's decision.

Hai Duong Trading and Service Company is operating ineffectively and is in bankruptcy proceedings.

Resolutely implement

In reality, the process of equitization and divestment of state capital not only encounters difficulties in individual enterprises but also faces common difficulties in complicated legal procedures, inconsistent asset valuation and long-standing problems in land handling.

To speed up the progress, Vice Chairman of the City People's Committee Tran Van Quan has many specific and drastic instructions. In particular, the Department of Finance will preside over and work with relevant agencies to urgently develop a detailed plan and roadmap for the arrangement and renovation of 46 enterprises and 6 public service units, clearly defining the completion time and clarifying the responsibilities of each department, branch, enterprise and individual involved in organizing the implementation of the procedures for equitization and divestment. Vice Chairman of the City People's Committee Tran Van Quan also assigned specific tasks to each department, branch, unit and relevant enterprise in carrying out the tasks of equitization, divestment of state capital, dissolution and bankruptcy of state enterprises.

Implementing the direction of the City People's Committee, the Department of Finance has urgently carried out assigned tasks; at the same time, built a roadmap for arrangement, equitization, and divestment of state capital in the last months of 2025, a plan for 2026, and proposed implementation solutions.

In particular, the Department of Finance proposed key solutions, requiring increased responsibility of departments, branches, state-owned enterprises and public service units, especially the responsibility of representatives of state capital in implementing approved plans and roadmaps. As the leading agency, the Department urged relevant agencies, units and enterprises for each stage in the divestment process; required units to closely coordinate with capital transfer consulting organizations to unify handling directions and remove obstacles in determining enterprise value and determining starting prices.

Based on the implementation, the Department of Finance will synthesize and report to the City People's Committee during the implementation process to handle and resolve problems; in case of exceeding authority, it will seek opinions and guidance from the Ministry of Finance.

The work of state capital divestment and equitization is being directed strongly by the city's leaders, and actively implemented by relevant agencies and units. This is a necessary task to effectively use capital resources, reduce the burden on the budget and improve the operational efficiency of enterprises according to market mechanisms.

PHAN ANH

Source: https://baohaiphong.vn/day-nhanh-co-phan-hoa-va-thoai-von-nha-nuoc-theo-dung-lo-trinh-523721.html