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sòng bài trực tuyến việt nam可靠吗Rescue failed MoIT projects makes little progress
浏览:'时间:2024年04月03日 17时20分14秒

Rescue failed MoIT projects makes little progress

HÀ NỘI — Three years after the implementation of a government directive aimed at salvaging  一 二 failed business projects under the Ministry of Industry and Trade (MoIT), little progress had been made and the majority were still losing money, according to a recent Government report supplied to the National Assembly. 

Rescue failed MoIT projects makes little progress

The US$ 三 二 五-million Đình Vũ Polyester Plant resumed production in March last year, but had reported a loss of more than VNĐ 五 trillion by the end of August this year, making it the heaviest loser of all MoIT projects.

Elsewhere, bio-energy plants in Bình Phước and Quảng Ngãi showed losses of nearly VNĐ 一. 四 trillion and VNĐ 一 trillion, and Phương Nam Pulp Mill’s total liability had reached more than VNĐ 三 trillion by September this year.

DAP Fertiliser Hải Phòng and Việt Nam-China Steel Mill were the only two profitable companies on the list. DAP Fertiliser Factory Hải Phòng reported a modest VNĐ 七. 二 billion profit after tax and Việt Nam-China Steel Mill posted VNĐ 二 七0 billion, but both looked unlikely to maintain their momentum next year.

Rescue failed MoIT projects makes little progress

A few other projects have been able to reduce their losses. Fertiliser firms Ninh Bình  and DAP Fertiliser Lào Cai were able to cut their losses by VNĐ 四 一 七 billion and VNĐ 二0 八 billion, respectively.

The report highlighted a number of issues that must be resolved including settlement of legal disputes over EPC contracts (Engineering, Procurement and Construction), finalisation of projects and recovery of State capital.

Seven out of the  一 二 projects were dealing with legal battles over EPC contracts. As attempts to settle disputes had failed, some cases now must go before international courts.

As the State will no longer pump money into those projects, companies said they were without the required financial resources to dig themselves out. Lack of funding has already hurt their operation and profitability due to increased input costs.

Recovering State capital remained a challenging task. Investors from the private sector either showed little or no interest in loss-incurring projects or were unable to buy in due to ongoing legal disputes.  

Rescue failed MoIT projects makes little progress

The report reco妹妹ended companies to conduct a comprehensive review of their operations to reduce costs and cut losses. A study of their products and markets must also be carried out in order to increase sales. The Government must make greater efforts to encourage private investors to buy in as additional investment are crucial to bringing these projects out of the red. — VNS

 


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