EVNGENCO1: Comprehensive review of tasks for enterprise equitization

The tasks in the equitization roadmap are gradually being reviewed by Power Generation Corporation 1 (EVNGENCO1), towards completion on schedule in the last months of 2020.

According to the latest information published by EVNGENCO1, the enterprise valuation document of EVNGENCO1 has been approved by EVN's Member Council and reported to the Committee for Management of State Capital at Enterprises. Currently, the document has been reviewed according to the opinion of the Committee for Management of State Capital at Enterprises.

Regarding the handling of the residual value of assets on land when transferring the house and land of EVNGENCO1 to the People's Committee of Quang Ninh province for management and handling, the Government Office has notified the direction of the Deputy Prime Minister Truong Hoa Binh on September 15, 2020. On that basis, on October 26, 2020, EVN sent a written report to the Management Committee on the financial handling when handing over EVN's assets to the People's Committee of Quang Ninh province. EVNGENCO1 still actively follows up with the Committee for Management of State Capital at Enterprises and relevant departments to follow the direction of the competent authorities.

The arrangement and handling of house and land facilities of the General Meeting of Shareholders does not affect the equitization progress of the Parent Company - EVNGENCO1

Regarding the plan to rearrange and handle the housing and land facilities of Da Nhim - Ham Thuan - Da Mi Hydropower Joint Stock Company, according to the direction of the competent authorities, EVNGENCO1 is reviewing the entire area. The property is being managed and used in accordance with the law on land, rearranged housing and land facilities according to the provisions of the Law on management and use of public property and Decree 167/2017/ND-CP dated December 31, 2017 of the Government. The arrangement and handling of house and land facilities of the General Meeting of Shareholders also reported by EVN to the Prime Minister does not affect the equitization progress of the parent company - EVNGENCO1.

The inspection of tax finalization in 2019 of EVNGENCO1 was completed on December 17, 2020, after 03 months of urgent work by the Tax Department of Hanoi City and the Corporation.

Mr. Nguyen Manh Huan – Vice President of EVNGENCO1 presented the draft plan on employment after equitization at the Extraordinary Employee Conference in October 2020

The Corporation is also actively reviewing and perfecting the labor use plan after the equitization of the parent company - Power Generation Corporation 1. It is expected that this plan will be submitted to EVN by the Corporation in the beginning of January 2021.