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Dong Nai has met all the requirements for enterprise equitization

On September 7, the central inspection team led by Deputy Minister of Finance Tran Xuan Ha had a working session with Dong Nai Party Committee and People's Committee, talking about the restructure and equitization of state-owned enterprises in Dong Nai. Mr. Le Hong Phuong – Deputy Secretary of the Standing Party Committee, Mr. Tran Minh Phuc – Vice chairman of Dong Nai People's Committee met and worked with the team.

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The central inspection team has a working session with Dong Nai Party Committee

    Following an on-site inspection, Deputy Minister – Tran Xuan Ha highly appreciated the restructure and equitization of state-owned enterprises in Dong Nai, especially Dong Nai’s meeting requirements for equitization but not privatization, for making sure that the government’s capital is preserved and developed, for carrying out the policies on bringing employees closer to employers and for promoting the activities of Party organizations and trade unions in businesses. The inspection team suggested that Dong Nai provide a stronger guidance about equitization, finish the restructure of the remaining state-owned enterprises and make a more thorough assessment of parent company - subsidiary model for the establishment of consortiums.

    According to the report of Enterprise Innovation Board, Dong Nai has 65 state-owned enterprises. After restructure, there have been eleven 100% state-owned enterprises left. According to the general project, the work of enterprise equitization has been basically finished. After being equitized, most enterprises are operating efficiently. The transition from the model of corporations or state-owned companies to a parent company - subsidiary model (a consortium) is proving effective in production and business activities. Until late 2008, Dong Nai established three consortiums with a total state-owned capital of VND3.8 trillion, up nearly 60% compared to pre-transition period. 2008 turnover reached more than VND8.8 trillion, up 123.76% and earned profits were over VND966 billion, up more than 80% ...

(Source: Dong Nai Newspaper, Translated by Duy Minh)

Author: phongvien

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