The Military Telecom Corporation (Viettel), one of the biggest mobile network operators in Vietnam, will remain a wholly State-owned enterprise, according to the Prime Minister's direction.

The Prime Minister has also ordered that the other 89 businesses under the Ministry of Defence also remain wholly State-owned, including 17 corporations and 72 one-member limited companies, said an official letter signed on October 8 by Deputy Prime Minister Vu Van Ninh and addressed to the Ministry of Defence.

The PM required the maintenance of 100-percent State capital at 69 subsidiaries of enterprises operating under the parent-subsidiary form, including three subsidiaries of Viettel, the M1 Information Factory one-member limited company, the M3 Information Factory one-member limited company, and Viettel Trade, Import and Export one-member limited company.

He also approved the plan to dissolve Company May 7, equitise 36 companies and withdraw State capital from nine joint stock companies.

The PM agreed to the restructuring of the Thanh An Corporation into a one-member limited company and equitisation of its five subsidiaries, Thanh An 141 Company, Thanh An 116 Company, Thanh An 119 Company, Thanh An 171 Real Estate Investment and Trading Company, and Thanh An 191 Consulting, Study and Design Company.

Under the direction of the Prime Minister, the Ministry of Defence is responsible for restructuring and adding capital to these enterprises under current regulations and reporting to the Prime Minister.

The Ministry of Defence will work out plans for establishing Corporation 16, Ba Son Corporation, Song Thu Corporation and Hong Ha Corporation and then submit the plans to the Prime Minister, according to the Prime Minister's direction.

This is part of the plan on the restructure and renovation of the State-owned enterprises under the Ministry of Defence in the 2013-15 period.

Source: Vietnam Plus