Hanoi, 11th June 2010 – The conference entitled “Exchange of Experience in Acceleration of State Capital Divestment at enterprises” was organized by SCIC with the participation of the securities companies who had provided divestment consultancy services to SCIC in the year 2010.

During the past four years, the divestment activities of SCIC have reached substantial results: in the year of its operations commencement 2006, the Corporation could only divest in 4 enterprises; the number however jumped to 35 in 2007; 59 in 2008 and especially peaked at 238 in 2009 which doubled that of the previous three years in total.

The impressive outcome of the divestment activities in 2009 was due to the fact that some obstacles in the divestment mechanism were removed thanks to the attention and guidelines from relevant authorities, particularly the Government and Ministry of Finance, said Mr. Hoang Nguyen Hoc, Deputy General Director (DGD) of SCIC.

Mr. Hoc also added that some regulations concerning sales transactions via the securities market and information disclosure were adjusted by the Ministry of Finance and the State Securities Commission (SSC), creating great facilitation for SCIC in its divestment initiatives.

According to the divestment plan approved by the Board of Management, SCIC will make every effort to complete the divestment from 170 enterprises in 2010 with an estimated revenue of 708 billion dongs. To realize this, SCIC anticipates the divestment in 287 enterprises.

Similar to the previous years, the divestment activities of SCIC in 2010 will be implemented basing on the cooperation with securities companies who play the role of consultants to SCIC in determination of enterprise assets, announcement of necessary information and organization of the auction sale.

During the conference, securities companies shared with SCIC the difficulties and problems existing in the process of executing divestment consultancy contracts, thereby seeking solutions to remove the obstacles and promoting SCIC’s divestment activities in 2010.

According to DGD. Hoc, divestment will continue to be the central task of SCIC for the next years to come. This aims at quickly restructuring the state capital in enterprises with a purpose of reducing state capital in such industries which unnecessary to be  under state management, or mobilizing the capital with a focused emphasis on enterprises in key sectors of the economy.