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Ministry of Transport to complete divestments by 2016
The Ministry of Transport (MoT) is planning to complete divestments from all of its corporations by the first quarter of 2016.
Deputy Minister of Transport Nguyen Hong Truong made this announcement at a meeting in Ha Noi on December 10.
MoT has completed the equitisation of 137 enterprises between 2011 and2015, which is 67 more than the ministry's target, Thuong said.
Of this figure, there are 16 major corporations, including the VINALINES and the Airport Corporation of Viet Nam (ACV), he said.
So far, MoT has also completed the divestment in 113 firms and earned VND4.4 trillion (US$195.4 million), he added.
After equitisation, many enterprises have gradually become strong businesses. Companies in the field of traffic construction have become a key force in helping MoT to complete their plan ahead of schedule in major transport projects, Deputy Minister Truong said.
By the end of 2015, MoT will complete the sale of its shares in 124 enterprises through an initial public offering (IPO). They will pay VND1.7 trillion ($75.5 million) to the business development fund of the State Capital Investment Corporation (SCIC), according to Truong.
Speaking at the meeting, Deputy Prime Minister Vu Van Ninh appreciated the implementation of the equitisation in States owned Enterprises (SoE) of MoT.
He also praised the efforts of MoT in partnering with related ministries to boost equitisation of SoEs.
In the near future, MoT needs to continue to review and implement equitisation of enterprises, especially in search for strategic investors for SoEs, Ninh urged.
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