EVN asked to divest from realty, banking sectors

State-run power giant Electricity Group of Vietnam (EVN) will have to completely divest from six businesses operating in its non-core sectors by 2015, under a restructuring plan that has recently been approved by the government.

The companies include An Binh Securites Co, An Binh Bank, Global Insurance Co, Saigon Vina Real Estate JSC, EVN Land Central, and the Vietnam Investment and Construction Electricity Co.

Besides its core businesses of producing, trading, importing and exporting electricity, EVN is allowed to operate in the finance investment, government capital trading, ICT services, and workforce training sectors.

The Prime Minister also stipulates that in the 2012 – 2015 period, major hydropower companies such as Hoa Binh, Son La, Yaly, and Tri An, and several important units in the national power market such as the Electric Power Trading Company and the National Load Dispatch Centre remain operating as subsidiaries of EVN.