Prime Minister Nguyen Xuan Phuc at the regular Cabinet meeting 

He gave the instruction after hearing Minister of Finance Dinh Tien Dung’s report on the SCIC’s selling of its shares in enterprises listed in the stock market or those in the unlisted public company market (Upcom) during the regular Cabinet meeting on October 3.

Mentioning the Vietnam Dairy Products JSC (Vinamilk) which is operating fruitfully, the leader said it is a must to publicise the auction to decide the best trading price and consultant firm.

“The offload of State capital in the businesses, especially in beer and milk companies, should abide by legal regulations,” the PM noted.

The SCIC reported that it successfully sold stake in 12 enterprises in 2014 and 2015.

According to the Finance Ministry, the corporation’s divestment over the years is in line with the law and helps hasten the selling of State capital in the State-owned enterprises.

Established in 2006, the SCIC is currently managing State capital in over 500 enterprises operating in different sectors, ranging from financial services to energy, manufacturing, IT, telecommunications, transportation, consumer products and health care.

Prime Minister urges efforts to ensure power supply

Prime Minister Nguyen Xuan Phuc has instructed relevant ministries, agencies and groups to set forth measures and mechanisms in order to ensure electricity supply for the economy.

“Power shortage could cause chaos for a country,” he said, suggesting the construction of more thermal and hydro power, and renewable energy plants, as well as major electricity facilities, and purchase electricity of foreign countries.

At a working session with representatives of the ministries, agencies, the Electricity of Vietnam (EVN) and the National Oil and Gas Group (PetroVietnam), the Government leader urged the two groups to seek solutions to power shortage in the southern region in 2018 and 2019.

Vietnam, especially the southern region, may face serious power demand in 2018 and have to use diesel to generate electricity, the PM warned, noting that the demand will continue to rise in the time ahead so as to keep the economic growth at 6.5-7 percent annually.

“The Government will decide on a number of policies and mechanisms on power supply based on the proposals made by the Ministry of Industry and Trade and the groups,” he said.

In the first half of this year, the EVN produced and bought 84.75 billion kWh of electricity, a year-on-year rise of 10.75 percent. As much as 28.3 percent of electricity came from hydropower plants, 29.36 percent from gas-fuelled turbine plants, and 39.87 percent from coal-fuelled thermal power plants.

Commercial power output reached 76.44 billion kWh, a yearly increase of 11.73 percent.

VNA