A series of military enterprises to be equitised

Saturday, 2017-10-21 17:32:48
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Major General Vo Hong Thang speaks at the meeting
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NDO – The Ministry of Defence said that only 17 military enterprises will have 100% of State-owned capital while 29 others will be equitised and 20 joint-stock military firms will be divested.

Major General Vo Hong Thang, head of the Ministry of Defence’s Economic Department announced the information at a meeting held in Hanoi on October 20 to introduce the project on restructuring and improving military enterprises by 2020.

Thang said the ministry will continue to maintain operations of 17 military enterprises wholly owned by the State which are carrying out military and defence tasks along with producing weapons and specialised military equipment.

Meanwhile, the ministry will equitise29 military enterprises in the areas of commerce, construction and services and carry out divestment in 20 joint-stock enterprises. Several small enterprises will be merged and acquired.

The Defence Ministry will hold the ratio of State capital from 51% of chartered capital until 2019 in 12 enterprises after being equitised and the ratio will be adjusted after 2020 in accordance to the law.

The Defence Ministry also asked enterprises under the restructuring project to promote communications so that workers are aware of the restructuring and renewal of military enterprises, thus actively responding to the project.