BizLIVE - EVN is aware that restructuring its operations is a breakthrough that leads to higher business performance, labor productivity and better transparency.
EVN Conscious of Need for Continued Restructuring: Chairman
EVN Chairman Duong Quang Thanh. Photo: EVN
State utility Electricity of Vietnam (EVN) has completed its restructuring plan set for the 2012-2015 period under the Prime Minister’s Decision 1782.
In compliance with the plan, EVN focused on withdrawing stakes from non-core businesses and reducing ownership in 7/7 joint stock companies. In addition, the group revamped operations of its subsidiaries and corporate governance.
According to EVN Chairman Duong Quang Thanh, under the 2016-2020 plan, EVN will pay attention to equitizing three power generation corporations as well as materialize the government’s guidelines with regard to raising business performance, forming the competitive power generation market and entering the ASEAN-4 electricity ranking.
EVN is aware that restructuring its operations is a breakthrough that leads to higher business performance, labor productivity and better transparency of its operations.
  The head office of Genco 3. Photo: EVN
Sticking to the plan, EVN is preparing for the equitization of Genco 3 by this year-end and is carrying out corporate valuation in order to sell shares in Genco 1 and Genco 2 in 2017 and 2018, Thanh informed.
EVN will retain its holdings in affiliated companies such as Thuan Binh wind power JSC to boost renewables.
Regarding the power transmission, EVN will retain its 100% stake in National Transmission Corp (EVN-NPT).
On power distribution and trading, EVN will separate costs of the distribution phase from the retail phase at power corporations starting 2016. The group aims to equitize retail operations of power corporations in order to compete with other trading firms when the competitive power retail market comes into existence, Thanh added.

MINH TAM