3:15:17 PM | 1/10/2008
State-owned Electricity of Vietnam Group (EVN) has recently sought the government’s approval for setup of five electrical power corporations on the precursors of Power Companies No. 1, No.2, No.3, and Ho Chi Minh City and Hanoi Power Companies.
EVN also proposed the government to turn power companies at local level into dependant and independent accounting companies.
If the proposal is approved, EVN will own five power corps in different regions, and 89 power companies at provincial and district levels in Hanoi and Ho Chi Minh City, regardless of companies operating in other aspects.
Vietnam now has 11 power companies nationwide, including Northern, Central and Southern Power Companies, Hanoi and Ho Chi Minh City Power Companies, five one-member limited companies in Haiphong, Hai Duong, Ninh Binh, Danang and Dong Nai, and a joint stock company in Khanh Hoa province.
EVN should have equitized by now 11 subsidiary companies but because of the sluggish stock market, the initial public offering has been delayed. (Investment)
Vietnamese
