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Nation to establish major conglomerates (16/05)
06/08/2010 - 168 Lượt xem
Most State-owned leading corporations operated by different ministries would be part of the initiative, while 50 or 60 State-owned corporations would run under the parent-subsidiary model, it said.
Around 1,000 wholly State-owned limited liability companies would be affiliated with the newly established groups, the board said.
While the establishment of such economic groups is an important part of the nation's plan to restructure State-owned enterprises, many experts have warned the process is being delayed because of a lack of legal framework.
Dr Vo Tri Thanh, head of the Central Institute for Economic Management's International Co-operation Department, said the merger of corporations into economic groups should be based on market requirements and the operational capacity of such groups.
The proposed conversion programme remains uncertain owing to a lack of criteria to evaluate individual companies' suitability for joining a group, he said.
Deputy director of the Board for Renewal and Development of State-owned Enterprises Ho Xuan Hung said the Government had encouraged the formation of such groups.
However, it wants to avoid a trend of groups failing to improve their business operations after larger economic groups are established.
Several economists have said the mergers of corporations into large conglomerates would enhance corporate trademarks, contradicting a common conception that strong trademarks depend simply on business performance.
Hung suggested it would be difficult to establish suitable criteria to evaluate State-owned corporations before their accession into large conglomerates.
Source: Viet Nam News
