State firms to be overhauled (30/10)
06/08/2010 - 14 Lượt xem
Bid to improve efficiency is in line with country's commitments to be the WTO
The Government has decided to overhaul state enterprises and their ownership and to improve efficiencies as part of the commitment it made to join the World Trade Organisation.
Financial support will be withdrawn from inefficient and non-competitive State enterprises which will be dissolved or allowed to go bankrupt.
The decision will improve the equitisation policy and remove areas of discrimination or favouritism in getting loans and receiving financial support by using Government bonds, aid resources and so on.
The decision also stipulates an ad hoc organisation will be formed to oversee the rights and obligations of business ownership for State parent companies and large-scale corporations, including the State Capital Investment Corporation.
The decision will improve the management of State businesses so they will operate according to common practices in a market economy.
The Ministry of Finance has been assigned to oversee the project from now until December next year and to operate a website to provide information about State enterprises involved in reorganisation, equitisation and transformation to ensure consistent, transparent and accurate information in line with the county's commitments to the WTO.
Source: VietNamNet/Viet Nam News
