WB ready to assist Vietnam in reforming State businesses
The World Bank (WB) is willing to assist Vietnam in reforming State-owned enterprises (SOEs), WB Country Director for Vietnam Ousmane Dione told Deputy Prime Minister Vuong Dinh Hue.
Deputy Prime Minister Vuong Dinh Hue (R) receives WB Country Director for Vietnam Ousmane Dione (Photo: VNA)
Hanoi (VNA) – The World Bank (WB)is willing to assist Vietnam in reforming State-owned enterprises (SOEs), WBCountry Director for Vietnam Ousmane Dione told Deputy Prime Minister VuongDinh Hue.
At their working session on December 13, OusmaneDione said the WB will further discuss with Vietnamese ministries and sectors issuesrelating to the equitisation of State businesses and make specificrecommendations for the Vietnamese Government.
WB experts suggested SOEs should mainly operatein important fields pertaining to security and defence. They emphasized theneed to balance the accountability and independence of the agency representingthe State ownership in relations with economic groups and State managementagencies.
Several experts recommended that all small- andmedium-sized State enterprises should be equitised, while major corporationsand groups can be equitised partly in order to help the State achieve the goalof improving business administration, increasing profits and monitor theenterprises’ operation on the stock market.
Deputy PM Hue said Vietnam is accelerating aproject on restructuring SOEs for the 2016-2020 period.
After 15 years, the number of SOEs has droppedto 718 from the previous 6,000, he said, admitting that despite the reduction,the rate of equitisation remains low, at only 8 percent of total State capital atpresent.
Deputy PM Vuong Dinh Hue said the WB’s recommendationswill help Vietnam put forth proper policies to reform State businesses, andcalled on the bank to offer moretechnical assistance in the field.
The WB also pledged to continue supportingVietnam’s efforts in economic restructuring and investment in socio-economic developmentprojects./.
The restructuring of State-owned enterprises (SOEs) in the first nine months of this year failed to meet the set target, with 49 SOEs having their equitisation plans approved in the period.
To create a fair business environment to promote the development of the private sector, experts said restructuring of State-owned enterprises (SOEs) must be hastened.
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Deputy Prime Minister Vuong Dinh Hue (R) receives WB Country Director for Vietnam Ousmane Dione (Photo: VNA)
