Vietnam Restructures 525 SOEs in First Ten Months
Vietnam has reorganized 525 State-owned enterprises (SOEs) in the first ten months of this year, fulfilling 72% of the annual plan, according to the Steering Board for Reform and Development of SOEs (SBRD).
The SBRD expects that the country will finish the target by the end of 2005 with 730 SOEs restructured, and basically, will accomplish the 2001-2005 plan.
During the period, SBRD has carried out restructuring small enterprises, developing large ones, enhancing management and ownership structure, and stabilizing operations.
SBRD has pledged to continue boosting the process in the remaining months this year in order to generate more products to further develop the country’s stock market.
The re-organization of SOEs, including privatizion, changing into liability and parent-subsidiary companies, disbanding or declaring bankruptcy, is a program aimed to strengthen competitiveness, performance efficiency and quality of business management of SOEs.
As of August this year, the country had privatized 2,450 SOEs since it started a privatization program in 1992, SBRD said.
Vietnam Economic Times
Vietnamese
