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Saturday, July 31, 2021

PM wants irreparable projects solved once and for all

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HCMC – At a meeting on March 3 to discuss the poorly-performing projects of the Ministry of Industry and Trade, Prime Minister Nguyen Xuan Phuc ordered those irreparable projects be solved once and for all in line with the law to take back the maximum State assets.

The Government leader asked the relevant enterprises to restructure their loss-making projects through liquidation, dissolution and bankruptcy to minimize losses to the State budget and the economy, the local media reported.

He assigned the steering committee for handling loss-making projects and enterprises under the Ministry of Industry and Trade to make a list of irreparable projects.

To date, three projects – the DAP-1 Haiphong fertilizer plant, and Phu Tho and Binh Phuoc ethanol plants—are no longer under the steering committee’s supervision.

Meanwhile, the Ministry of Industry and Trade has repeatedly held negotiations over engineering, procurement and construction (EPC) contract disputes at five other projects but when these disputes can be solved is not in sight, so the State capital cannot be divested from these projects.

The Ministry of Industry and Trade must submit solutions to deal with the Phuong Nam paper pulp mill project before March 10.

As for the remaining projects, the Commission for the Management of State Capital at Enterprises, must make specific proposals.

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