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Vietnam. Why doesn’t Industry Ministry let Sabeco go?

VietNamNet Bridge - Sabeco was equitized eight years ago, but the Ministry of Industry and Trade (MOIT) still has not transferred the brewery to the State Capital Investment Corporation (SCIC).

20160624090611-sabeco

As the State now holds 90 percent of stakes in Sabeco, analysts believe that though Sabeco is a joint stock company in name only, it has been operating under the mechanism of a state-owned enterprise.

This can be seen in changes with the company’s key personnel. When involved parties were busy arguing whether Sabeco had to pay tax arrears of trillions of dong, MOIT unexpectedly introduced Vo Thanh Ha as the candidate for the post of chair of the company’s board of directors.

Ha, authorized by MOIT to represent the state’s capital in Sabeco (23 percent of total capital) since October 14, 2015, was later elected as chair of the board of directors and CEO in January 1, 2016.

Before taking office, Ha had been the chief secretariat of the MOIT Office since February 2015. Prior to that, he was deputy chief secretariat of the office and secretary of then MOIT Minister Vu Huy Hoang.

As the State now holds 90 percent of stakes in Sabeco, analysts believe that though Sabeco is a joint stock company in name only, it has been operating under the mechanism of a state-owned enterprise.

This can be seen in changes with the company’s key personnel. When involved parties were busy arguing whether Sabeco had to pay tax arrears of trillions of dong, MOIT unexpectedly introduced Vo Thanh Ha as the candidate for the post of chair of the company’s board of directors.

Ha, authorized by MOIT to represent the state’s capital in Sabeco (23 percent of total capital) since October 14, 2015, was later elected as chair of the board of directors and CEO in January 1, 2016.

Before taking office, Ha had been the chief secretariat of the MOIT Office since February 2015. Prior to that, he was deputy chief secretariat of the office and secretary of then MOIT Minister Vu Huy Hoang.

28 Jun. 2016

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