Vietnam Lawmakers Urge Pushing up Shares Sales in SOEs
Vietnamese lawmakers Aug 21 gathered at a conference to discuss the situation of share sales in state-owned enterprises and urged clearing shortcomings to push up the equitization process in the coming time, state media said on August 22.
Deputy Minister of Finance Tran Xuan Ha told the lawmakers that Vietnam will sell shares in 948 SOEs between 2008 and 2010.
Many members of the Vietnamese National Assembly’s Standing Committee attached importance of the stock market to the privatization process with appropriate policies in assessing goodwill of companies such as land, trademark and financial strength.
The lawmakers recommended amending the Law on Land issued in 2003 by suggesting the government of Vietnam should allow provincial and municipal authorities to decide land prices in stead of its maintaining the current land prices frames regulation.
The law setters also proposed the government to continue selling preferential shares in state-owned companies to their workers with par value.
As of June 30 this year Vietnam had restructured 5,041 companies and had sold shares in 3,786 SOEs and raised VND78 trillion.
Of the 3,786 equitized SOEs with a combined capital of VND250 trillion, the State holds VND75 trillion, up 36 per cent.
Vietnam still has 1,720 100 per cent-state-owned companies with a total capital of VND410 trillion (US$24.8 billion).
So far, the local stock market’s index has lost 43 per cent since the beginning of the year.
Vietnamese
