State to hold 65 percent at State-owned banks

tHuy HA

The State will continue to maintain ownership of 65 percent or more at stateowned banks until 2025.

According to Prime Minister’s Decision No. 22/2021/QD-TTg issued on 2 July 2021, banks are in the group of enterprises in which the State will hold 65 percent or more of charter capital according to the classification criteria of stateowned enterprises for the period 20212025. The decision will take effect on 19 August this year.

In addition, the State will hold 65 percent of charter capital in seven sectors (after business conversion and divestment) in the next 5 years including: management and operation of airports; airfield operational services; large-scale mineral mining according to current regulations on classification of mineral deposits; aviation navigation information, monitoring and meteorological services; production of cartoons for children ordered or sponsored by the State; food wholesale which plays the role of ensuring great balance of the economy, stabilizing the market and performing political tasks; finance, banking (except insurance, securities, fund management companies, finance companies and finance leasing companies).

The State will also hold over 50 percent to less than 65 percent of charter capital in the fields of exploitation, production and supply of clean water and urban and rural drainage; basic chemical production; air transport; petroleum import with a market share of 30 percent or more; cigarette production.

Sectors and fields in which the State will hold 100 percent of the charter capital, including surveying and mapping for national defense and security; manufacturing and trading in industrial explosives and blasting services, national power transmission and distribution grid management, construction and operation of large power plants; lottery; money printing and minting, producing gold bars and gold souvenirs; policy credit for socio-economic development, deposit insurance, trading and handling bad debt in association with restructuring credit institution system, etc.

However, the decision also clearly states that, with the functions and tasks assigned, ministries are responsible for actively amending or proposing to competent agencies for amendments to relevant regulations in order to address difficulties encountered in implementing this Decision. The Ministry of Planning and Investment will be the focal point to submit to the Prime Minister for consideration and approval of the enterprise restructuring plan for the period 2021-2025 in the third quarter of 2021.