Improving legal framework for SOEs and state economic groups

Vietnam will build powerful economic groups to help stabilize the macro economy, ensure major national balances and maintain social welfare, national security and defence. The commitment was reaffirmed by Prime Minister Nguyen Tan Dung at a conference in Hanoi on Friday  to review the operational efficiency of economic groups.  Currently, Vietnam has 12 state economic groups operating in key areas such as post and telecoms, coal and mineral, textile and energy. They make up 30 percent of total assets, more than half of equity and nearly 40 percent of employees of the entire state enterprise sector.

The PM calls for an in-depth review of laws and regulations governing SOEs and state economic groups:“We need to immediately revise the decree governing ownership, and role of various government agencies with particular focus on the board of directors and line management ministries"

The PM urged for the finalization of an economic restructuring master plan for these groups by next January.

 

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