Accordingly, Ho Chi Minh City will continue to maintain 32 single-member limited liability companies with 100 percent charter capital held by the State. Specifically, these include the Ho Chi Minh City State Financial Investment Company, Ho Chi Minh City Urban Railway Company Limited No. 1, Ho Chi Minh City Water Management and Exploitation Services Company Limited, Saigon Jewelry Company Limited, Saigon Tourism Corporation - One Member Limited Liability Company, Saigon Water Corporation - One Member Limited Liability Company, Tan Thuan Industrial Development Company Limited, Saigon Zoo and Botanical Gardens Company Limited, Foreign Service Company, Youth Volunteer Public Service Company Limited, Ho Chi Minh City Urban Drainage Company, Ho Chi Minh City Urban Environment Company Limited, Ho Chi Minh City Green Park Company and district-level public service companies. Specifically, three district public service companies in District 2, District 9, and Thu Duc District will be merged.
Ho Chi Minh City will equitize 10 enterprises. Among these, the State will hold at least 65 percent of the charter capital in Saigon Trading Corporation - One Member Limited Liability Company. The State will hold between 50 percent and 65 percent of the charter capital in eight enterprises, including Saigon Industry Corporation - One Member Limited Liability Company, Saigon Pharmaceutical Company Limited, Ben Thanh Corporation - One Member Limited Liability Company, Saigon Transportation Mechanical Corporation - One Member Limited Liability Company, Saigon Real Estate Corporation - One Member Limited Liability Company, Saigon Construction Corporation - One Member Limited Liability Company, Saigon Cultural Corporation - One Member Limited Liability Company, and Ho Chi Minh City 27/7 Company Limited.
The State will hold 50 percent or less of the charter capital in Liksin Packaging Industry Corporation - One Member Limited Liability Company.
Separately, Saigon Agriculture Corporation - One Member Limited Liability Company will be reorganized according to the legal regulations on the arrangement of agricultural and forestry companies.
Ho Chi Minh City has set a determined goal to carry out equitization and ensure that by the end of 2025, the valuation of 10 enterprises with 100 percent charter capital held by the State under the management of the City People’s Committee as approved by the Prime Minister will be completed. After 2025, the city will study the reorganization of all state-owned enterprises in the area according to key economic sectors.
At the same time, the city aims to form corporations with strong potential, making significant investments in infrastructure through the application of high technology and smart technology to create breakthroughs and high spillover effects. These corporations will play a major role in establishing, orienting, and leading the market, acting as key pillars in the city’s socio-economic development in sectors such as trade and services, financial investment, construction and real estate, information technology and digital transformation, tourism, public services, and the environment.
The decision takes effect from August 1.
