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Vietnam's government to speed up reforms of state businesses
Vietnam's communist rulers say they will speed up the reform and sale of inefficient state-owned enterprises, but the state sector will continue to play a key economic and social role.
A resolution issued by a recent plenum of the Communist Party's Central Committee sets a target of 2005 for completing stock sales and mergers of inefficient state enterprises and the settling of bad debts.
Currently, Vietnam has about 5,900 state-owned enterprises, down from 12,000 a decade ago. The companies, which make up the bulk of Vietnam's industries, are often inefficient, overstaffed and saddled with debt.
The resolution says state enterprises will be given more autonomy in business strategy, financing and hiring, allowing them to improve their efficiency and play a leading role in the national economy.
The state will maintain a controlling or 100 percent stake in key industries such as airlines, telecommunications, railways and insurance.
28/09/01 13:01:05 | ABC Radio Australia News
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