Cabinet meeting mulls SCIC’s selling of stake in businesses
Prime Minister Nguyen Xuan Phuc has emphasised the need to publicly choose qualified consultant firms in order to prevent state capital losses caused by wrong stake valuations.
Prime Minister Nguyen Xuan Phuc at the regular Cabinet meeting (Source: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has emphasised the need to publicly choose qualified consultant firms in order to prevent state capital losses caused by wrong stake valuations while selling State Capital Investment Corporation (SCIC)’s share♐s in businesses.
He gave the instruction after hearing Minister of Finance Dinh Tien Dung’s report on the SCIC’s selling of its shares in enterprises listed in the stock market or those in the unlisted public company market (Upcom) during the regular Cabinet meeting on October 3.
Mentioning the Vietnam Dairy Products JSC (Vinamilk) which is operating fruitfully, the leader said it is a must to publicise the auction to decide the best trading price and consultant firm.
“The offload of State capital in the businesses, especially in beer and milk companies, should abide by legal regulations,” the PM noted.
The SCIC reported that it successfully sold stake in 12 enterprises in 2014 and 2015.
According to the Finance Ministry, the corporation’s divestment over the years is in line with the law and helps hasten the selling of State capital in the State-owned enterprises.
Established in 2006, the SCIC is currently managing State capital in over 500 enterprises operating in different sectors, ranging from financial services to energy, manufacturing, IT, telecommunications, transportation, consumer products and health care.-VNA
Giant Vietnamese dairy firm Vinamilk (VNM)’s market capitalisation is now nearly 8 billion USD, allowing it to remain the market leader in terms of capital.
The Ministry of Transport divested from several companies following Government directives, gaining more than 2 trillion VND (88.9 million USD) during the first half of this year.
The Saigon Beer, Alcohol and Beverage Corp (Sabeco) may get permission to be listed on the stock exchange in the near future, the Ministry of Industry and Trade (MoIT) said in a statement.
The Ministry of Transport (MoT) is pushing forward with the restructuring of State-owned enterprises (SOEs) in the sector, with two trillion VND of State capital divested in nine months.
Minister of Finance Nguyen Van Thang cleared up deputies' concern regarding how to spur socio-economic growth, renew traditional growth motives and establish new momentum for development.
Vietnam proposed several priorities: narrowing the digital divide, strengthening women’s leadership in the digital economy and AI governance, and mobilising sustainable financing for gender equality initiatives in line with each country’s national priorities and context. Vietnam also advocated for genuine women’s participation and leadership across all areas of public life.
Ha expressed his hope that cooperation in science and technology, agriculture, and natural resources would emerge as new focal points and engines of growth in Vietnam–China relations.
Giang said he believes that building on the solid foundation nurtured over the past half-century and the strong determination of both nations, the Comprehensive Strategic Partnership will continue to grow in a more robust, comprehensive, and extensive manner, thus bringing more practical benefits to the two nations' people.
Highlighting the transformative potential of the draft law in revitalising Vietnam’s railway industry, Hoang Van Cuong, a deputy of Hanoi, expressed his support for Article 39, which empowers the Prime Minister to issue a list of railway-related goods and services to be assigned or ordered from domestic enterprises for production.
According to the Ministry of Public Security, Hoan, formerly Deputy Minister of Labour, Invalids and Social Affairs, is under investigation for allegedly taking bribes in connection with a case involving the Hoang Long Construction and Manpower Supply JSC and related units.
Chairing a national conference on the organisation of the examination on June 18, the PM highlighted the historical significance of the examination, as the restructuring of provincial-level administrative units is underway and the two-tier local administration model is set to officially begin operations on July 1.
Right on the same day, the ministry issued its highest-level travel warning, urging Vietnamese citizens not to travel to Israel or Iran, and advised those already in these countries to swiftly consider evacuation or relocation plans.
From the struggles against colonialists and imperialists to the period of Doi moi (renewal) and international integration, the Vietnamese revolutionary press has always played a pioneering role on the ideological and cultural front, he said.
The Party leader's working session with the standing boards of the Party Committees of HCM City, Ba Ria – Vung Tau and Binh Duong, the VNA General Director's remarks on the occasion of the 19th OANA General Assembly, the launch of new NIC - Google initiatives aimed at bolstering AI entrepreneurship and digital literacy in Vietnam are among news highlights June 18.
Vietnam and Indonesia reaffirmed their commitment to strengthening cooperation in combating terrorism as it remains a threat to peace, security, and stability across their respective nations, the broader region, and the international community.
The Vietnamese representative also emphasised the shared responsibility of relevant parties to build trust, enhance cooperation, and jointly manage the risks of conflict, thus safeguarding long-term peace and stability in the East Sea.
The National Assembly on June 18 passed the law amending and supplementing a number of articles of the Law on Product and Goods Quality, with 408 out of 420 participating deputies voting in favour, accounting for 85.36% of the total.
The Party leader asked the new HCM City to embrace a multi-centre and integrated urban ecosystem where each development pole functions as a link complementary to and intelligently connected with each other in a harmonious whole.
The resolutions issued by the PM as well as ministries and ministry-level agencies reassign responsibility for 346 administrative procedures - 18 from district to provincial levels, 278 to commune level, and 50 eliminated.
Legislators are due to pass several amended laws, including the Law amending and supplementing several articles of the Law on Economical and Efficient Use of Energy, and the Law amending and supplementing several articles of the Law on Product and Goods Quality.
Vietnamese localities' readiness to implement the two-tier local administration model, the evacuation of 18 Vietnamese citizens from Iran, Petrovietnam's 11th ranking in the 2025 Fortune Southeast Asia 500 are among news highlights on June 17 evening.
The General Secretary underlined the resolve to achieve a growth rate of at least 8% in 2025, laying the groundwork for double-digit growth in the following period. He noted that these are mandatory targets, with no alternative path to success.
Prime Minister Nguyen Xuan Phuc at the regular Cabinet meeting (Source: VNA)
