Meeting of Provincial Board of Innovation and Enterprise Development and Equitization Working Group held

Overview of the meeting.

Bac Ninh will divest all state capital in two state-owned joint-stock companies without holding capital, in accordance with Prime Minister's Decision No. 1479/QD-TTg in 2022, which approved the plan for restructuring state-owned enterprises and state-owned enterprises in the period 2022-2025. Bac Ninh Road Joint Stock Company (state capital 75.64%) and Bac Ninh Agricultural Technical Materials Joint Stock Company (state capital 27.19%) are two examples. The implementation of state capital in firms will begin in the fourth quarter of 2024 and is expected to be completed by 2025.

Furthermore, Bac Ninh Urban Environment and Construction Joint Stock Company has been identified as one of the state-owned enterprises and enterprises with state capital that will be restructured under a separate plan for the period 2022-2025, with the enterprise's current state capital ratio of 64.61%.

Vice Chairman of the Provincial People's Committee Ngo Tan Phuong speaks at the meeting.

At the meeting, representatives from enterprises basically agreed with the roadmap for divestment of State capital and equitization. It is hoped that the province will create conditions for businesses to operate and create jobs and stabilize the lives of employees after equitization.

Speaking at the meeting, Vice Chairman Ngo Tan Phuong asked the Department of Planning and Investment as the standing agency to consider the plan to rearrange Bac Ninh Environment and Urban Works Joint Stock Company to report to the Provincial Party Standing Committee for decision.

Phuong also asked the Department of Planning and Investment to continue to collect comments for the 2nd time on the draft Plan on divestment of State capital in State-owned enterprises in the province in the period of 2024-2025 and finalize and report at the regular meeting of the Provincial People's Committee in September. At the same time, he urged functional sectors to continue to review land and assets, determine prices, and add to the equitization and divestment plans…