The State will keep 100 percent of chartered capital of businesses involved in 19 key sectors, according to the latest decision signed by the Prime Minister.
They are businesses involved in production and supply of explosives, toxic chemicals, radioactive substances weapons, press and media, air traffic control, money printing and coin casting, and lottery.
The decision also defines sectors in which the State will take more than 50 percent of the capital of their businesses once equitised. They include businesses involved in the supply of public services and services that are indispensable to production development and to improving material and spiritual life of ethnic minority people in mountainous and remote areas.
Businesses which ensure economic balance and market stability, including money trading, insurance, oil and gas exploitation and processing, and supply of information and communication network infrastructure, are also among those with over 50 percent of share being held by the State after equitisation.
The classification will help accelerate the process of SOE equitisation and reorganisation towards increasing the intensive participation of many economic sectors and reducing the State's ownership and interference in businesses' operations.
The process of equitisation in industries has day by day demonstrated the policy with a sharp drop in the number of businesses with State holding controlling stocks.
The Ministry of Agriculture and Rural Development, for example, plans to equitise 39 SOEs this year with only three of them defined to have over 50 percent of share held by the State. They are the Central Major Animal Seed Production One-Member Co. Ltd, the Central Veterinary Medicine one-member Co. Ltd. No. 3 and the Coffee Appraising One-Member Co. Ltd.
According to Minister of Finance Vu Van Ninh, the equitisation process will be accelerated in the coming period, focusing on selling shares to domestic and foreign strategic investors.
The programme targets at equitising around 1,500 enterprises from now till 2010. This year, 550 enterprises will be equitised, including State-owned corporations, commercial banks and businesses involved in public-service and insurance.
According to the government's report to the National Assembly at its year-end session in 2006, since 2001, the number of equitised businesses has increased markedly. However, the equitisation process remains slowly with about 3,000 SOEs equitised since 1992.
Source: VNA
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