Deputy Prime Minister Vuong Dinh Hue (R) receives WB Country Director for Vietnam Ousmane Dione

At their working session on December 13, Ousmane Dione said the WB will further discuss with Vietnamese ministries and sectors issues relating to the equitisation of State businesses and make specific recommendations for the Vietnamese Government.

WB experts suggested SOEs should mainly operate in important fields pertaining to security and defence. They emphasized the need to balance the accountability and independence of the agency representing the State ownership in relations with economic groups and State management agencies. 

Several experts recommended that all small- and medium-sized State enterprises should be equitised, while major corporations and groups can be equitised partly in order to help the State achieve the goal of improving business administration, increasing profits and monitor the enterprises’ operation on the stock market. 

Deputy PM Hue said Vietnam is accelerating a project on restructuring SOEs for the 2016-2020 period. 

After 15 years, the number of SOEs has dropped to 718 from the previous 6,000, he said, admitting that despite the reduction, the rate of equitisation remains low, at only 8 percent of total State capital at present.

Deputy PM Vuong Dinh Hue said the WB’s recommendations will help Vietnam put forth proper policies to reform State businesses, and called on the bank to offer more technical assistance in the field.

The WB also pledged to continue supporting Vietnam’s efforts in economic restructuring and investment in socio-economic development projects./.

VNA