This request was made by Deputy Prime Minister Le Minh Khai - Head of the Steering Committee for handling shortcomings and weaknesses of a number of slow-progressing and ineffective projects and enterprises in the industry and trade sector - at a meeting on the morning of October 19.
The Deputy Prime Minister requested the Vietnam National Oil and Gas Group (PVN), the State Capital Management Committee at Enterprises, representatives of ministries, branches and banks to base on legal regulations and directives to agree on a plan to complete the matter, ensuring reasonableness, harmony and consensus among relevant parties.
Regarding the plan, the Deputy Prime Minister requested the State Capital Management Committee at Enterprises and PVN to study and absorb the valid opinions at the meeting to complete the Dung Quat Shipyard Restructuring Project; focus on completing the documents and project, and submit it soon in time for the Government Standing Committee to meet and give instructions. The project must evaluate each plan in detail (conversion of ownership, bankruptcy, restructuring); clearly explain which plan can be implemented, which plan cannot be implemented; evaluate the advantages and disadvantages to propose the best plan.
At the meeting, the majority of opinions agreed to choose the restructuring option. The Deputy Prime Minister stated: If choosing this option, it is necessary to fully evaluate the necessity, potential, development advantages, clarify the outstanding factors, development trends, production and business efficiency of the option, ensure persuasiveness, feasibility, and compliance with the law, and submit it to competent authorities for consideration.
Regarding financial solutions when restructuring, the Deputy Prime Minister requested PVN and the State Capital Management Committee at Enterprises to directly explain the problem, based on legal regulations, clearly classify each item (assets and liabilities) and propose specific handling measures according to regulations; data and basis must be clear and convincing. The spirit is that assets that cannot be exploited must be liquidated or temporarily frozen until liquidation; ensuring harmonious interests and sharing difficulties.
Believing that if there is a feasible solution to solve the financial problem, restructuring is the best option, Deputy Prime Minister Le Minh Khai suggested that PVN coordinate with specialized ministries and creditors to unify and complete the project, and propose feasible solutions to completely handle the problem.
Opinions at the meeting all agreed that the restructuring plan of Dung Quat Shipyard so that this enterprise can continue to produce and do business, promoting the value of its assets is the most reasonable, both minimizing damage to the state budget and creating an important foundation for the operations of PVN and the shipbuilding industry, and developing the marine economy in the future.
The representative of the Ministry of Finance said that restructuring the Dung Quat Shipyard project under Dung Quat Shipbuilding Industry Company (DQS) is necessary. Regarding the issue of asset liquidation, DQS and PVN need to work with creditors to agree on a solution, ensuring legality and harmony.
To ensure the restructuring plan is feasible for DQS, Deputy Minister of Planning and Investment Tran Duy Dong noted that it is necessary to clarify solutions on financial handling, ensure strictness; review mechanisms and regulations on financial handling to have appropriate plans.
Representatives of the State Audit Office and the Ministry of Justice, the Ministry of Public Security, the Ministry of Construction... requested PVN to specifically and in detail explain the contents related to the proposed solutions for handling assets and finances in the restructuring plan, proving the effectiveness and feasibility of the plan.
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