HCM City Restructures 381 Businesses

Ho Chi Minh City has so far restructured 381 state-owned enterprises, including 262 equitised firms and 24 one member limited companies. The city has concentrated on merging and dissolving poor-performing companies and also improving capacity of the city’s state-owned corporations. 

The city has re-organised existing state-backed groups, aiming to reduce the number of companies but expand their operation scale. After privatisation, most of the companies have gained higher business results. A survey on 70 equitised firms showed that their revenues grow some 33 per cent annually. They also offer a rise of 24 per cent in income for their staffs.