Many SOEs slow in restructuring

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Báo Dân Trí English - 33 month(s) ago 6 readings

Many SOEs slow in restructuring

A slew of State-owned enterprises (SOEs) have yet to pass their restructuring schemes to the Prime Minister although this is what they must have done in the first quarter.

According to the Steering Committee for Enterprise Reform and Development, only four State conglomerates and two corporations set up under Decision 91 have submitted their restructuring schemes so far. They are Vietnam Electricity (EVN), Vietnam Oil and Gas Group (PVN), Vietnam Rubber Group (VRG), Vietnam National Chemical Group (Vinachem), Vietnam Coffee Corporation (Vinacafe), and Vietnam National Tobacco Corporation (Vinabata).

The country now has a total of 21 State conglomerates and corporations 91.

The steering committee has urged the remainder to send their plans to the Prime Minister for approval.

Meanwhile, ministerial agencies are tasked with drawing up plans for SOE restructuring and send them to the Prime Minister in the first quarter. However, none of them has completed this job.

In giving reasons for the delays, the ministries said this was a new job and involved a range of ministerial, local agencies and enterprises.

Enterprises under the umbrella of ministerial agencies are active in diverse fields and different locations. Therefore, the ministries said it would take more time to study and develop efficient and feasible schemes.

There is a concern that interest groups will be the biggest obstacle to the SOE restructuring process.

Economic expert Pham Chi Lan said the Government should push the remaining groups and corporations to accelerate the restructuring process.

SOEs are enjoying many privileges, but to have SOE restructuring moving forward and to ensure fair competition, such privileges should be removed. This is one of the key reasons for them to refrain from restructuring, Lan told the Daily.

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