Mechanism sought for auction of SOE land plots
28-09-2012
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Evaluating land plots of SOEs is one of the difficulties faced by the city when equitizating such firms, said HCMC vice chairman Le Manh Ha at a meeting on Tuesday to review ten years of reforming SOEs in the city.
During the sale of the State stakes in the SOEs managed by HCMC in the coming time, auctioning off the land sites owned by these SOEs could generate high revenue for the city, said Ha.
Land of the SOEs subject to equitization is very large, he told the conference on Tuesday.
Speaking at the conference, Le Hoang, chairman of Saigon Cultural Products Corporation, said his firm fell into troubles when selling the State stake in a subsidiary, Printing Mechanical Joint Stock Company, which had incurred losses in the last two years.
The parent firm cannot sell the State stake in its subsidiary yet due to the difficulty in evaluating the two land plots of this company on Hai Thuong Lan Ong Street in District 5 and Pasteur Street in District 1.
In the coming time, the HCMC government will continue equitizing 68 out of the 91 SOEs in the city. Specifically, 31 enterprises will go public from 2012 to 2015, and 37 will go through this process thereafter.
In 2001-2011, 195 SOEs were equitized, 90 were turned into one-member limited liability companies, 11 got disbanded, 11 went bust, and two were handed over to employees.
Equitization has helped mobilize nearly VND4.83 trillion into SOEs. The average monthly income of SOE employees has risen from VND1 million ten years ago to VND7.9 million at present.
Under the city’s plan, all SOEs in HCMC will have to complete their restructuring schemes within this year, said vice chairman Ha.
He noted that in the restructuring process of the HCMC-based SOEs, the city would not focus on volume. Instead, the city will carefully assess each firm, taking their business performance into account, focusing on promoting the use of high technology and building brands for big enterprises in the city.
