Illustrated image. Photo: MoC

This year, the Ministry of Construction (MoC) divested all state capital in Viglacera Corporation and Song Hong Corporation and transmitted the authority to represent the state as the proprietor of capital at Hanoi Construction Corporation.

Between 2024 and 2025, it will divest all state capital from Construction Machinery Corporation and Vietnam Machinery Installation Corporation.

The MoC anticipates collecting over $9.8 million in central budget revenue from COMA, over $15.7 million from Lilama, over $5.6 million from Song Hong Corporation, and over $248 million from Viglacera.

The ministry has just sent a document to the Ministry of Finance that anticipates that the proceeds from the sale of state capital will be transferred to the state budget between 2021 and 2025.

Housing and Urban Development Corporation (HUD) will conclude the corporate value announcement by December 31, 2025, per the MoC plan. Less than half of state capital is anticipated to remain after equitisation.

The MoC continues to maintain MTV Global Investment JSC (the state holds 100 per cent of charter capital) for Vietnam National Cement Corporation (VICEM); per the decision to reorganise state-owned businesses from the 2022–2025 period.

The ministry considers the above-mentioned anticipated revenue to be the expected value of the plan endorsed by the prime minister in Decision No.1479/QD-TTg, excluding unfavourable market conditions and difficulties.

Before the 2016–2020 period, the MoC continued to carry out an extensive arrangement and reorganisation of 16 enterprises, including 12 joint stock companie) and four one-member limited liability partnerships, with an emphasis on ending equitisation and continuing divestment according to a reasonable schedule.

Twelve groups have been equitised by the MoC, and the remaining four are Song Da Corporation, IDICO Corporation, HUD, and VICEM, which were newly added under Decision No. 58/2016/QD-TTg on the criteria for classifying state-owned enterprises for the 2016-2020 period.