On November 29, 2022, Prime Minister approved the Plan for rearrangement of state-owned enterprises and state-invested enterprises for the period of 2022 - 2025 in the following models: maintenance of single-member limited liability company; equitization and rearrangement (including via merger and acquisition, dissolution); partial or total transfer of state capital for the period of 2022 - 2025, which consists of the following Appendices:
- Appendix 1 on Plan for maintaining single-member limited liability companies for the period of 2022 - 2025 (List of enterprises of which 100% charter capital is held by the State for the period of 2022 - 2025).
- Appendix II on Plan for equitization, merger and acquitions, and dissolution for the period of 2022 - 2025 (List of enterprises of which 100% charter capital is held by the State to be equitized, merged or acquired, dissolved for the period of 2022 - 2025).
- Appendix III on Plan for divestment and retention of state capital for the period of 2022 - 2025 (List of state-owned enterprises and state-invested enterprises divesting and retaining state capital for the period of 2022 - 2025).
- Appendix IV on List of state-owned enterprises and state-invested enterprises rearranging according to separate plans for the period of 2022 - 2025.
State-owned enterprises and state-invested enterprises affiliated to: Ministry of Health, People’s Committee of Ho Chi Minh City, People’s Committee of Hai Duong Province, and enterprises not specify hereunder (not transferred to State Capital and Investment Corporation) shall comply with plan approved by the Prime Minister upon rearranging.
Accordingly, Ministries, ministerial agencies, Governmental agencies, and People’s Committees of provinces and central-affiliated cities are responsible for:
- approving or requesting competent authorities to approve or issue written approval and coordinating implementation of the Scheme for restructuring for the period of 2021 - 205 in regard to state-owned enterprises in accordance with Decision No. 360/QD-TTg dated March 17, 2022 of the Prime Minister.
- equitizing and finalizing enterprise value disclosure for the period of 2022 - 2025 in regard to enterprises named under Section 1 of Appendix II attached hereto; organizing divestment according to roadmap and ensuring the percentage of capital held by the state within the range specified under Decision No. 22/2021/QD-TTg dated July 2, 2021 of the Prime Minister with the goal of achieving proposed percentage by 2025 in regard to enterprises named under Section 1 of Appendix III attached hereto. Holding accountability to the Government, Prime Minister, and inspecting authorities for implementation and implementation results.
- developing and requesting Prime Minister to review and approve rearrangement rules for every enterprise under Appendix IV attached hereto in the 1
st Quarter of 2023.
- providing feedback in order to enable state investment representatives to vote on rearrangement solutions with respect to enterprises named under Section 2 of Appendix III hereof and joint-stock companies to be dissolved as per applicable laws.
- boosting the progress of equitization and divestment ahead of the approved roadmap depending on market situations and specific enterprise conditions while maintaining effectiveness, transparency, openness, and compliance with regulations and law.
- promptly requesting the Prime Minister to review and decide in writing for cases of failure to comply with this Decision due to unfavorable market conditions or subjective difficulties and issues. With respect to cases of failing to adhere to percentage range and/or failing to implement in the period of 2022 - 2023 as a result of objective reasons, responsibilities of individuals involved (if any) must be inspected while competent authorities must take actions as per the law, the Steering Committee for Enterprise Innovation and Development, Ministry of Planning and Investment, and Ministry of Finance must be informed in order to monitor and consolidate information; meanwhile, percentages under this Decision must be guaranteed during the period of 2024 - 2025.
- reviewing and transferring the right to represent owner of state capital in enterprises to State Capital and Investment Corporation or requesting the Prime Minister to review and decide on cases of transfer to State Capital and Investment Corporation as per applicable laws.
- submitting reports on enterprise rearrangement specified under this Decision to the Steering Committee for Enterprise Innovation and Development, Ministry of Planning and Investment, Ministry of Finance before January 15 of each year.
Ministry of Planning and Investment shall take charge and cooperate with the Steering Committee for Enterprise Innovation and Development, Ministry of Finance, and relevant authorities in monitoring, expediting, supervising, and concluding the implementation of this Decision.
This Decision comes into force from the date of signing. Pursuant to Clause 1 Article 8 of Decision No. 22/2021/QD-TTg dated July 2, 2021 of the Prime Minister, Decision No. 26/2019/QD-TTg dated August 15, 2019 of the Prime Minister approving the List of enterprise equitizing until the end of 2020 and Decision No. 908/QD-TTg dated June 29, 2020 of the Prime Minister approving the list of state-invested enterprises implementing divestment until the end of 2020 shall expire.
Subsidiaries that are single-member limited liability companies of which 100% charter capital is held by the State and rearrange in accordance with Decision No. 26/2019/QD-TTg are allowed to continue to do so until the Scheme for restructuring of single-member limited liability companies of which 100% charter capital is held by the State approved by competent authorities.