Industry Ministry Equitises 11 Enterprises

Industry Ministry Equitises 11 Enterprises

The Ministry of Industry has decided to equitise 11 State-owned enterprises under its management. They are Dong Nam Textile Company, Mineral and Mechanical Company, Construction and Materials Company 5, Electrical Equipment Company, Nam Dinh Silk Company, Nam Dinh Textile Mechanical Company, Da Nang Textile and Garment Import-Export Company, 7 units of Viet Tien Garment Company, Electrical Installation and Construction Company, Saigon-Soc Trang brewery and Saigon-Can Tho brewery.

Seven units of Viet Tien Garment Company will become Viet Thinh joint stock company (VTC) with registered capital of VND26 billion including 25 per cent of the State, 58.6 per cent of the workers’ shares and 16.4 per cent of outsiders’ shares. Seven State-owned enterprises will keep 51 per cent of the capital upward, Nam Dinh Textile Mechanical Company will keep 15 per cent of the capital. In particular, the State will not keep any share in the Electrical Installation and Construction Company with registered capital of VND7 billion, 86 per cent of the shares for the workers and 14 per cent for outsiders.

Vietnam to Enter 9th WTO Round

Vietnam will enter the 9th round of negotiations for WTO admission in Geneva on December 8. Vietnam will conduct bilateral discussions with concerned countries on commodities, services, legal reform, etc. From December 14 to 17, multilateral negotiations will begin with WTO members. The discussions this time will focus on the draft report of the Committee on Vietnam admission to the WTO.

So far, Vietnam is on schedule with the road map for WTO admission. However, the biggest difficulty remains the bilateral negotiations with certain countries.

• P.V