Containers are loaded at the State-owned Hai Phong Port in Hai Phong city (Photo: VNA) Hanoi (VNA) – Shortcomings in terms of institutions and laws are the main cause of the sluggish restructuring of State-owned enterprises (SOEs), which may fail to fulfill many important targets by the end of 2020, according to the Central Institute for Economic Management (CIEM). At a workshop in Hanoi on June 12, head of the CIEM’s department for enterprise reform and development research Pham Duc Trung said by the end of next year, SOEs are hoped to have a more reasonable structure through equitisation and divestment of State capital. Vietnam also expects to complete the divestment of State capital from firms in which the State doesn’t need to hold capital, improve businesses’ performance, and thoroughly handle poor-performing and loss-making SOEs by the end of 2020. Trung said although the targeted number of equitised firms may still be reached, many important targets will be definitely unable to be fulfilled, including the attraction of private investment in SOEs, and the investment of State capital divested from SOEs into the fields that really need the State’s presence. Therefore, the target of a more reasonable structure for SOEs hasn’t… Read full this story
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