Ho Chi Minh City seeks to speed up equitization of state-owned enterprises

Many businesses said they encountered difficulties in arranging and handling houses and land belonging to state-owned enterprises during the equitization process.

The 2024 legal work conference took place at SATRA - Photo: MS

On the occasion of Vietnam Law Day on November 19, the Ho Chi Minh City Business Management Innovation Board organized a 2024 Legal and Legal Affairs Workshop to listen to difficulties and problems related to legal policies and regulations from corporations.

The workshop, attended by representatives of 15/17 state-owned enterprises and relevant departments and branches in Ho Chi Minh City, focused on discussing difficulties and problems regarding policies and legal regulations in the restructuring and equitization of enterprises in the 2022-2025 period.

At the workshop, the report of the HCM City Enterprise Management Innovation Board updated the overall picture of state-owned enterprises in recent times.

Despite efforts to urgently implement the plan to reorganize 100% state-owned enterprises and state-owned enterprises in the city in the 2021-2025 period, many enterprises have reported difficulties in arranging and handling houses and land belonging to state-owned enterprises, especially issues related to land use plans and property legality.

The current general situation is that there are difficulties in restructuring state-owned enterprises, which is caused by the large number of projects that need to be appraised and approved, leading to slow progress. For large enterprises, the financial situation is complicated and related to land management and public activities, leading to difficulties in implementing according to plan. In addition, the problems from the previous equitization stage have not been thoroughly resolved.

The process of equitization and enterprise restructuring has not progressed because the approval process for the housing and land treatment plan has not been completed, and complicated legal constraints have slowed down the implementation. The issue of transferring joint venture capital in the form of land use rights before equitization as well as complicated legal constraints are also major obstacles.

SATRA Deputy General Director Ha Ngoc Son presented a speech at the conference - Photo: MS

The second group of problems relates to asset management, handling joint venture capital contributions using land use rights value and the equitization process. According to enterprises, they are currently having difficulty in handling debts and backlog assets, and lack of leadership personnel due to retirement or job transfer. Meanwhile, many assets and real estate are also related to criminal cases.

"25/46 enterprises have not had their charters approved by the Ho Chi Minh City People's Committee due to lack of coordination between relevant parties," the report stated.

Faced with these bottlenecks, delegates proposed many solutions, including strengthening coordination between functional agencies, reviewing and amending legal regulations to create more favorable conditions for businesses. At the same time, they recommended speeding up the approval of housing and land handling plans and supporting businesses in handling backlogs of assets and capital contributions.

The Organizing Committee has recorded and compiled opinions to report and propose to the Ho Chi Minh City People's Committee to direct the implementation of measures to remove difficulties and support state-owned enterprises to operate more effectively, in accordance with the actual situation.

Source: https://tuoitre.vn/tp-hcm-tim-cach-day-nhanh-tien-do-co-phan-hoa-dnnn-20241128141806326.htm