Efforts to equitize and restructure state-owned enterprises

Vinh Phuc Water Supply and Sewerage Joint Stock Company No. 1 invests in and innovates technology to improve the quality of clean water to meet the needs of people and businesses. Photo: Nguyen Luong

Recently, the Provincial People's Committee issued Plan No. 80 on the arrangement and reform of State-owned enterprises and divestment of State capital in 2025. Accordingly, the province maintains the enterprise in which the State holds 100% of the charter capital for Vinh Phuc Lottery One Member Co., Ltd. For 4 Irrigation One Member Co., Ltd. in which the State holds 100% of the charter capital, including Lien Son, Lap Thach, Phuc Yen and Tam Dao Irrigation One Member Co., Ltd., to merge into Vinh Phuc Irrigation One Member Co., Ltd.

Speed ​​up the implementation progress, ensure the completion of 100% divestment of state capital for 2 enterprises including: Vinh Phuc Construction, Quality Inspection and Consulting Joint Stock Company and Vinh Phuc Road Management and Repair Joint Stock Company.

Maintain the State capital and improve the operational efficiency of 2 enterprises, including: Vinh Phuc Water Supply and Sewerage Joint Stock Company No. 1 and Vinh Phuc Clean Water Joint Stock Company. Particularly, WinEco - Tam Dao Agricultural Investment, Production and Development Company Limited, consider and transfer the State capital contribution here to report to the Prime Minister. At the same time, inspect and review the current status of houses and land of centrally managed enterprises located in the area and public service units to ensure the conditions for conversion into joint stock companies.

Vinh Phuc Road Management and Repair Joint Stock Company is currently managing nearly 500 km of roads, 6 road management districts in the province; creating stable jobs and income for 150 workers. Implementing the Party and State's policies, the province's direction on divestment and equitization of state-owned enterprises, the company has divested 25% of the capital held by the State since 2011 to 75% now.

Vinh Phuc Road Management and Repair Joint Stock Company continuously invests in equipment and improves the quality of road maintenance work. Photo: Ngoc Lan

Continuing to implement the equitization roadmap as directed, the company has completed the construction of documents to return land, road management agencies, pay land tax and coordinate with functional agencies to re-determine state assets at the enterprise during the divestment period.

Mr. Hoang Duc Hoc, Director of the company, said: The divestment of State capital from enterprises always ensures the correct implementation of the contents and requirements according to the provisions of current laws. During the process of divestment of State capital, enterprises still operate production and business normally; at the same time, maintain jobs and stable income for employees as well as increase publicity and transparency of information on financial situation, production and business activities to create trust and attract the attention of investors.

It is known that the 4 Irrigation LLCs with 100% charter capital held by the State, including Lien Son, Lap Thach, Phuc Yen and Tam Dao, have completed the valuation of assets, State capital and revenue value in a public, transparent and legal manner; completed the documents and built a merger project in accordance with current laws. At the same time, they maintain stable operations and jobs for employees while waiting for the Prime Minister's directive to be issued.

A representative of Tam Dao Irrigation One Member Co., Ltd. said: As a state-owned enterprise providing public services, while waiting for the Prime Minister's directive to be issued, the unit will proactively provide products and services to the economy, strive to fulfill its tasks, production, business and investment development plans as well as effectively promote the State capital held at the enterprise.

In order to effectively and promptly implement the arrangement and innovation of SOEs and divestment of State capital in 2025 in the locality, the Provincial People's Committee assigned the Department of Finance to preside over and coordinate with relevant units to advise the Provincial People's Committee on the arrangement and innovation of SOEs in accordance with the prescribed roadmap and within its authority; preside over and coordinate with relevant agencies and units to guide the Irrigation One Member Limited Liability Companies in the province to implement after the Prime Minister issues a document agreeing to the merger policy; coordinate with the Ministry of Finance to build and develop a synchronous national database system on SOEs and State assets to evaluate, monitor, supervise, inspect and improve production and business efficiency.

The Tax Department of Region VIII reviews all compliance with tax policies, fees, and charges collected by the tax authority for the activities of state-owned enterprises and enterprises with state capital in the province that have plans to transform, divest, and reorganize. Urge units to submit tax settlement dossiers and conduct tax settlement inspections and examinations for units and enterprises in accordance with the provisions of the Law on Tax Management, the Law on Taxation, and guiding documents.

State-owned enterprises and enterprises with State capital focus on improving management capacity, competitiveness, promoting advantages in a number of industries, occupations and fields to improve the efficiency of production and business activities, preserve and develop State capital and assets in enterprises.

Enterprises implementing State capital divestment shall coordinate with auditing consulting units to determine the starting price for share auctions, develop effective divestment plans, in accordance with the provisions of law...

Ngoc Lan

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/126859/No-luc-co-phan-hoa-sap-xep-doanh-nghiep-Nha-nuoc