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Vietnam Plans to Intensify State-owned Enterprise Reform
The Vietnamese government has set a 2005 target for completing the process of restructuring small and loss-making state-owned enterprises (SOEs), Vietnam's official news agency VNA reported Monday.
According to the process, 2,622 small and loss-making state- owned enterprises of the country will be restructured in the next five years.
Of this number, 1,319 firms will be equitized, 562 will be assigned, sold, contracted or leased, 351 will be merged, 368 will be dissolved or declared bankrupt, and 27 will be changed into administrative units.
This year, restructuring will take place in 1,063 SOEs, including five bankruptcies or dissolution, 179 mergers, and 692 cases involving either equitization, assignment, sale, contracting out or leasing.
The purpose of restructuring small and loss-making state-owned enterprises is to raise the efficiency and competitiveness of the country's state-owned enterprises.
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