Seek suitable solutions to optimize businesses and project implementations

VCN - Regarding handling remaining ineffective projects of the Industry and Trade sector, Mr. Ho Sy Hung, Vice Chairman of the Committee for Management of State Capital at Enterprises, said that the Committee is coordinating with groups, corporations and partners to come up with appropriate solutions to facilitate the development of these projects and businesses.
Equitization and divestment target is difficult to become true Equitization and divestment target is difficult to become true
Vietnam attracts over 39,100 FDI projects with registered capital of nearly 469 billion USD so far Vietnam attracts over 39,100 FDI projects with registered capital of nearly 469 billion USD so far
Seek suitable solutions to optimize businesses and project implementations
Mr. Ho Sy Hung

What is the general direction in handling remaining ineffective projects of the Industry and Trade sector, Sir?

At present, there are four behind schedule and ineffective projects that are needed to review and coordinate with businesses and corporations to handle. In addition, businesses and corporations are also trying to limit and warn early on ongoing projects that may fall into situations like previous projects to avoid "car tracks" or arisen problems.

As for existing projects, there is still complexity and handling is still very difficult due to involved policy mechanisms. Therefore, in 2024, the Committee and corporations will continue to review and propose comprehensive plans, including policy mechanisms and shake hands to handle backlogs, especially assets and financial expenses that are not included in production and business, to create favorable conditions for businesses and project implementations.

What will be the specific solution for such existing projects and businesses, sir?

The handling is still complicated. For example, in 2 steel projects (Phase 2 expansion project of Thai Nguyen Iron and Steel Factory (TISCO 2) and Quy Xa mine exploiting and sorting iron ore project of Lao Cai Iron and Steel Factory (VTM)), the Committee is currently negotiating and discussing with businesses and contractors from China to definitely resolve, based on reviewing the conditions and possibilities for feasible and effective investment next time.

For the shipyard project of Dung Quat Shipbuilding Industry Company (DQS) in Quang Ngai, the Committee coordinated with Vietnam Oil and Gas Group (PVN) to review assets and financial cost included in investment but not included in production and business to give conclusions to retain or eliminate them, or find other alternative forms. These plans will create conditions for Dung Quat factory to recover and operate normally with competitive financial conditions compared to other businesses.

Along with the above issues, what are control directions of state-owned corporations and corporations in general by the Committee for Management of State Capital at Enterprises in 2024?

The Committee for the Management of State Capital at Enterprises still determined the year 2024 to be a key year in the Committee's activities as well as the development of groups and corporations in the Committee. Therefore, the Committee is making efforts to promote the contents of perfecting the mechanisms, policies and organizational model of the Committee in accordance with the conclusions of the Politburo; complete the mechanism of being a specialized agency representing the state owner at the enterprise.

Although the Committee for Management of State Capital at Enterprises is not a state management agency, it is still involved in handling problems for production, business and investment activities of enterprises, especially dealing with policy mechanisms. Therefore, the Committee will coordinate with groups and corporations to review and propose amendments to specific contents to remove difficulties and optimize for production and business activities.

​Along with that, the Committee for Management of State Capital at Enterprises will provide tools to promote production, business and investment activities of groups and corporations. In particular, it is hoped to achieve business growth of about 10% compared to 2023 to continue contributing to Vietnam's economic recovery and economic development.

Thank you Sir!

By Huong Diu/ Thu Phuong

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