Giants like MobiFone, Agribank, and SJC set to be equitised next year

August 19, 2019 | 17:25

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Only 15 months remain for 93 state-owned enterprises and groups, including MobiFone, Agribank, SJC, VICEM, and Vinacomin, among others, to finish equitisation.

giants like mobifone agribank and sjc set to be equitised next year

MobiFone, Agribank, and SJC are all to be equitised within the next year

Prime Minister Nguyen Xuan Phuc has just issued Decision No.26/2019/QD-TTg approving the list of corporations to be equitised by 2020.

Accordingly, 93 corporations must finish the process by the end of 2020, including big-shots like Agribank, SJC, and MobiFone.

Specifically, these 93 SOEs include four where the state holds at least 65 per cent of the capital, namely Agribank, Vinacomin (code: TKV), Vietnam Northern Food Corporation (Vinafood 1), and Vietnam Mineral One Member Co., Ltd.

Additionally, there are 62 enterprises where the state owns 50-65 per cent of the charter capital, including MobiFone, VNPT, Vinacafe, Vietnam Cement Industry Corporation (VICEM), Hanoi Transport and Services Corporation (TRANSERCO), and Urban Infrastructure Development Investment Corporation (UDIC).

Lastly, there are 27 firms where the state holds less than 50 per cent of the charter capital, such as Housing and Urban Development Corporation (HUD), Vietnam Paper Corporation, and Saigon Jewelry Co., Ltd. (SJC).

The prime minister asked the SOEs to complete the equitisation according to the timeline. Every quarter and before September 20, 2020, ministers and the heads of cities and provinces and SOEs must report on their progress to the Ministers of Planning and Investment, Finance, and the Steering Committee for Innovation and Development of Enterprises which will in turn report to the prime minister.

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