Gov’t pilots model of State-owned groups
VGP – The Government just released Decree 101/2009/NĐ-CP dated on November 5, 2009 on experimentally founding, organizing, operating and managing State-owned economic groups (SOEGs).
November 09, 2009 4:20 PM GMT+7
Oil
and gas exploration and exploitation is one of business fields where
State-owned economic groups can be founded
The Decree, which will come
into effect on December 22, 2009, will be applied for SOEGs founded under the
PM’s decisions to engage in: post, telecommunications and IT; shipbuilding; electric
power generation, transmission, distribution and trading; petroleum; coal and
minerals; textile; rubber planting and processing; fertilizers and chemicals
production; real estates; construction and manufacturing mechanics; finance,
banking, insurance and some other fields.
SOEGs
are parent-subsidiary corporate complexes which are bound by economic
interests, technologies, market and other business services.
The Decree also stipulates
that, dominated enterprises are not allowed to buy shares or contribute capital
to dominant ones in the same group.
Parent companies and
subsidiaries of SOEGs are required to focus their investment and business activities
on major fields.
By Phương Hạnh
