The Prime Minister has released the decree on assigning and selling the enterprises that the State holds 100% of chartered capital, under which, foreign investors, foreign invested enterprises in Vietnam and the organizations established in accordance with foreign laws, operating in foreign countries or in Vietnam, foreign individuals all can purchase 100% state owned enterprises (SOEs).
Besides, the sale of 100% SOEs is also open for the labourers of the enterprises, Vietnamese institutions and individual investors. The labourers who are working for the enterprises may be assigned by the enterprises to run them if they can meet set requirements.
Under the decree, the SOEs to be assigned to labourers for management are the ones with the chartered capital of less than VND5bil. These enterprises are listed among those which need to be equitised or restructured, but cannot be equitised for several reasons. Besides, the SOEs to be assigned must be the ones that do not have advantages in land and position.
The decree allows the sale of SOEs in the whole, no matter which capital scale they have, but these SOEs must meet several other requirements: they must list among the SOEs subject to equitisation, but cannot be equitised so far.
Those who purchase SOEs, can use the assets they buy in their own way. They can choose other fields of business. They can also change the apparatus of management of enterprises, select the mode of enterprises’ ownership, and continue leasing land as stipulated by laws. If maintaining the previous business fields, the buyers will be able to inherit the benefit of the business contracts previously signed.
Source: Thanh Nien
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