Vietnam to Restructure, Privatize 12 Transport SOEs in 2007-09
Vietnamese Prime Minister Nguyen Tan Dung has approved the plan to restructure and privatize 12 state-owned enterprises under the Ministry of Transport in the 2007-2009 period as part of its plan to boost the sector’s capacity, the government said on its web site.
The ministry will keep Hai Van Tunnel Management and Exploitation Co, or HAMADECO, privatize three companies this year, eight in 2008 and one in 2009, it said.
The ministry will also announce bankruptcy for five others.
Dominant stake holdings will be decided by the ministry and submitted to the Government for approval.
It will prepare an overall arrangement plan for seaport networks.
Like China, Vietnam needs more investments for its transport infrastructure development, Jim McAdam, APL's President for the Asia Middle East, saying “Vietnam's cargo growth potential is tremendous.”
According to VinaCapital Infrastructure Fund, Vietnam needs about US$140 billion to develop its infrastructure networks from now till 2020 in a bid to become an industrialized nation. (Government’s Website)
Vietnamese
