Allowing the Equitization of State-Owned Enterprises Without Approving the Land Use Plan

Duy Thinh

11:52, 11/07/2024

Recently, the Government of Vietnam issued Resolution 121/NQ-CP on addressing obstacles in the equitization of state-owned enterprises.

The Government of Vietnam permits enterprises under the following two cases currently undergoing equitization to continue implementing equitization in accordance with Decree 59/2011/ND-CP:

- Enterprises that have announced their enterprise value but have not approved the equitization plan before the effective date of Decree 126/2017/ND-CP (i.e., January 1, 2018);- Enterprises that had their equitization plan approved in 2017 but have not had the land use plan approved by a competent authority according to the provisions of Decree 01/2017/ND-CP.

To continue the equitization process, the aforementioned enterprises must complete the approval of the land use plan before the newly established joint-stock company is issued its first business registration certificate.

See details in Resolution 121/NQ-CP dated November 22, 2017.

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