EVN has made efforts in renovating enterprises in the period of 2017-2020

This is a general affirmation by the Standing Working Mission of the Business Innovation and Development Steering Committee (BIDSC) at the meeting with Vietnam Electricity on 9 June 2020, on the upcoming implementation of business restructuring, renovation, equitization and divestment  by EVN.

Mr. Nguyen Hong Long - Deputy Director in charge of BIDSC; Mr. Tran Dinh Nhan - General Director of EVN co-chaired the meeting.

After the Prime Minister issued Decision No. 852/QD-TTg dated 14 June 2017 approving the Master Plan on reorganizing and restructuring enterprises of Vietnam Electricity Group in the period of 2017-2020 (referred to as Decision No. 852), EVN has built a detailed plan, assigned tasks and schedules to the units under the Group to implement in Decision No. 129/QD-EVN dated 31 July 2017.

Up to now, EVN has basically completed the contents of the 2017-2020 Restructuring Project.

At the meeting, Mr. Nguyen Hong Long noted, EVN has made great efforts to meet the 2-digit electricity growth over the past years. EVN has been constantly innovating, performing a lot of work in restructuring, renovating, equitizing and divesting enterprises.

Mr. Nguyen Hong Long - Deputy Head of BIDSC speaking at the meeting with EVN

Member of the delegation, Mr. Ha Minh Manh - Director of Enterprise Innovation Department (the Government Office) said that just one month after the Prime Minister issued Decision No. 852, EVN has completed the construction of detailed plans and assigned units to implement it. This shows EVN's determination to implement the Project. EVN has comprehensively performed the tasks of restructuring, renovating, equitizing and divesting enterprises.

Mr. Ho Cong Trung - Deputy Director of Energy Department, State Capital Management Committee at the Enterprises said that EVN was one of the groups that has applied IT very well in the implementation of corporate governance restructuring (specifically, in the operation of the electrical system, developing many unmanned substations, modernizing the measurement system, implementing cashless transactions with customers, etc.). EVN has a number of targets to reach the ASEAN top 4, reaching a high position in the world. EVN's power projects have been implemented on schedule, many projects were completed ahead of schedule. In the management process, EVN has learned, approached well with international businesses, applied a more modern management model. 

EVN General Director Tran Dinh Nhan delivering a speech

EVN's report at the meeting showed that the main difficulties and obstacles during the implementation of Decision No. 852 are the mechanism in equitization and divestment, in particular the policy and mechanism in arrangement and handling of real estate. For the equitization of EVNGENCO 3, the initial public offering (IPO) has not reached the target, failed to find strategic investors, and the State ownership ratio is still high. The finalization of equitization at EVNGENCO 3 has not been given the specific guidance by the competent state agencies on the time of making financial statements. EVN General Director Tran Dinh Nhan proposed that EVN would report to the Prime Minister on the time of making EVNGENCO 3's financial statement to settle the State capital when equitizing at this Corporation.

In 2020, EVN is striving to complete all the contents of Decision No. 852 and other directions of the Prime Minister. EVN proposes to the Government for approval of the Decree on establishing and reorganizing state-owned (100% charter capital) enterprises and its one-member limited liability subsidiaries being companies; ownership conversion, transferring rights of ownership representation and controller of state-owned (100% charter capital) enterprises, to facilitate the operation of state-run economic groups and corporations. EVN proposes to the Prime Minister for considering and approving the EVN Development Strategy to 2030, with a vision to 2045.

EVN proposes BIDSC quarterly to arrange and work directly with the Group to promptly remove difficulties and obstacles, including guidance on the implementation mechanism, responsibility evaluation and document response deadline by agencies, to meet requirements on efficiency and schedule.

Some results of implementation of EVN's 2017-2020 restructuring project:

  • Complete the Decree on EVN Charter and the Decree on EVN's Financial Regulation;
  • Submit to the Prime Minister projects on: Establishing a Training and Scientific Research Center, transforming the National Load Dispatch Center into a one-member limited liability company under EVN; EVN development strategy; approve and implement the restructuring project and plan of production, business, development investment of 9 Corporations;
  • Ensure conditions for 3 power generation corporations to operate stably and the equitization plan has been approved by the Prime Minister.
  • Deploy many projects on arranging and consolidating the staff, assisting the Agency of EVN, the Agencies of Power Corporations, and the National Power Transmission Corporation (including the consolidation of the Advisory Committees for EVN Party Committee and Party Committees of several Corporations) and its subsidiaries.
  • EVN has promoted the implementation of corporate governance restructuring, the corporate governance method with recognized changes, perfecting the internal management regulation system applied throughout the Group; formulating and implementing the Project of "Research, development and application of technology in Industry 4.0 into the production and business activities of EVN"
  • EVN has completed the divestment of all capital in 2 joint-stock companies and divested most of the value of contributed capital in EVNFinance, with the proceed of VND 588,213 billion, a surplus of VND151.51 billion, ensuring safety and development for state-invested capital in compliance with current regulations of the State.

  • 09/06/2020 04:33
  • evn.com.vn