Promote all aspects of the equitization process.
The results of the selection of the bidder for the "Consultancy on enterprise valuation" package for the equitization of the parent company - Electricity Generating Corporation 1 were determined on July 21, 2020, after many levels of appraisal by authorized agencies. In the near future EVNGENCO1 will complete, sign and implement the contract with the winning bidder according to regulations. Meanwhile, the "Consultancy on equitization plan preparation" package is awaiting the opinion of the State capital management committee in the enterprise to approve the evaluation of the technical dossier.
In handling assets on the land handed over to the People's Committee of Quang Ninh province, EVNGENCO1 has actively coordinated with relevant ministries and agencies to gather opinions. Currently, the Corporation is waiting for the guidance of the Government Office on this issue.
The plan for determining land rental prices to serve the equitization of the parent company - EVNGENCO1 in provinces and cities has been agreed upon by EVNGENCO1 with most localities, except for Hanoi. The Department of Natural Resources and Environment and the Department of Finance of Hanoi are urgently working to reach an agreement on the plan and report to the Hanoi People's Committee.
EVNGENCO1 has completed the dry season output plan assigned by EVN, producing 14,842.5 million kWh.
The audited financial report for the year 2019 of EVNGENCO1 was completed on time as prescribed. As for the plan for labor use after equitization, the Corporation has prepared a list of employees as of January 1, 2020, and is reviewing and developing a plan for labor use after equitization. The personnel involved in the working group for directing the equitization of EVNGENCO1 have also been supplemented and improved in quality.
Expectations for breakthrough growth.
EVNGENCO1 expects a breakthrough in the process of equitization. In the last months of 2020, EVNGENCO1 will focus on resolute guidance for equitization, ensuring the completion of the announcement of enterprise value in 2020, especially the determination of land rental rates to serve the equitization process. To achieve this, EVNGENCO1 needs to continue to work closely with relevant ministries, departments, and agencies.
In addition, maintaining the progress of other tasks is also necessary. Accordingly, EVNGENCO1 stated that it will cooperate with the Vietnam Electricity Group to work with the People's Committee of Quang Ninh province and authorized levels regarding the handover of assets on the land area of the Corporation to the People's Committee of Quang Ninh province. The selection of consulting firms for two bidding packages "Consultancy on determining enterprise value" and "Consultancy on equitization plan development" will ensure compliance with the provisions of the law and meet the assigned progress.