Promote equitization and divestment of state-owned enterprises

Speed equitization not only slow but also entangled with many mistakes, requiring many solutions to mechanisms and policies. These are the information given at the Workshop held by the Ministry of Finance on May 17.

One of the most difficult problems today is business valuation because the current 5 valuation methods all have their own inadequacies and give different results.

Mr. Le Thanh Tuan, Head of Investment Division 4, State Capital Investment Corporation (SCIC) said: “SCIC recommends studying more specific regulations related to determining the value of brands and goods. year, right to buy”.

However, the audit process also recorded many mistakes on the part of enterprises. The data of the State Audit shows that the average enterprise value after being redefined is 2.8 times higher, causing the risk of loss of State capital after equitization or divestment.

Mr. Ho Duc Phuc, Minister of Finance, shared: “Change of land use purpose, inaccurate valuation, very large. Enterprises after equitization have to compete, but because they run after profits. land rent, closed production, moved to urban areas”.

Many solutions were discussed at the workshop, including not including land value in the equitization plan, and the regulation that enterprises cannot change the purpose of land use after equitization. The comments will be recorded and absorbed by the Ministry of Finance to continue to improve mechanisms and policies.

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