The above content was proposed by the Ministry of Industry and Trade in a report sent to the Government Office on monitoring the implementation of converting 100% state-owned enterprises into joint stock companies.
The Ministry of Industry and Trade proposed to simultaneously and intactly transfer all enterprises for which the Ministry is representing the ownership to the State Capital Management Committee at Enterprises and the State Capital Investment Corporation (SCIC) for the period 2022-2025.
This is to avoid the situation where good businesses accept the handover and bad businesses do not accept it, affecting state management.
Enterprises proposing to transfer include: Vietnam Engine and Agricultural Machinery Corporation (VEAM); Hanoi Beer - Alcohol - Beverage Corporation (Habeco); Vietnam Paper Corporation; Industrial Machinery and Equipment Corporation (MIE); Vietnam Industrial Construction Corporation;
Construction and General Import-Export Joint Stock Company; Vietnam Agricultural Products Joint Stock Company; Construction Investment and Construction Materials Joint Stock Company; BMC Construction and Trading Materials Company Limited; Textile Research Institute Joint Stock Company; IMI Industrial Machinery and Tools Institute Joint Stock Company.
According to the Ministry of Industry and Trade, up to now, there are three enterprises that have not completed the equitization settlement, including the Vietnam Steel Corporation (VNSteel), the Vietnam Engine and Agricultural Machinery Corporation (VEAM), and the Vietnam Machinery and Industrial Equipment Corporation (MIE) due to remaining difficulties and problems.
In addition to some businesses that still have difficulties and problems, the two most prominent names among them that are doing well are VEAM and Habeco.
Habeco is a giant in the beer industry with revenue in 2022 reaching over 6,460 billion VND. The company's after-tax profit last year reached over 422 billion VND, equal to 135.9% compared to the previous year.
In the first 6 months of this year, Habeco recorded revenue of 3,333 billion VND, profit after tax of 184 billion VND. Currently, the State holds more than 80% of the capital in this giant.
Meanwhile, VEAM’s results were even more impressive. The total after-tax profit of the Engine and Agricultural Machinery Corporation last year was VND5,624 billion, exceeding the plan by 25%.
VEAM's equity as of June 30 increased by 33% to VND25,128 billion. Currently, the Ministry of Industry and Trade is VEAM's largest shareholder, accounting for more than 88.47%.
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