Government divests from 5 transport firms


HÀ NỘI – The Ministry of Transport (MoT) is pushing forward with the restructuring of State-owned enterprises (SOEs), having divested VNĐ2 trillion (US$89.7 million) from five corporations and companies since the beginning of this year.

According to Deputy Minister Nguyễn Hồng Trường, all State capital was withdrawn from the Civil Engineering Construction Corporation No 6 (Cienco 6), the Transport Engineering Design Inc (Tedi), the Waterway Transport Corporation, and Việt Nam Motors Industry Corporation (Vinamotor), while 23.18 per cent of the charter capital was withdrawn from the Civil Engineering Construction Corporation No 5 (Cienco 5).

The divested capital was then put into the Business Arrangement and Development Support Fund of the State Capital Investment Corporation (SCIC).

The MoT also transferred the management of State capital in the Thăng Long Construction Corporation to SCIC and submitted to the Prime Minister for consideration the transfer of State capital management in three corporations, Cienco 5, Cienco 8, the Waterway Construction, and nine companies.

Deputy Minister Trường said the ministry has approved the list of strategic investors for the Airports Corporation of Việt Nam and Vietnam Airlines, while continuing to work on the restructuring of Vinalines, VEC and Cửu Long corporations.

In the fourth quarter, he said, the MoT will accelerate the equitisation of public service delivery units that was given the green light by the PM.

The ministry will report to the PM on the progress of the restructuring of the Việt Nam Ship Building Industry Corporation (SBIC) and create the restructuring plan for Vinalines in the 2016-2020 period.

Source: Vietnam News

Photo: CBR Investment AG