On December 8, the Steering Committee for Restructuring State-owned Enterprises held a conference reviewing 10 years of restructuring, developing and increasing the operational efficiency of SoEs in the 2001-2010 period. 

According to the Steering Committee, over the past ten years more than 4,700 SoEs have been restructured, including 3,400 equitized and 128 newly established.

However, there have been limitations in this regard as the operational efficiency of SOEs is still far from matching the distribution of resources, many enterprises suffer losses and the equitization of SoEs has slowed over the past three years.

In his speech, Deputy Head of the Steering Committee Pham Viet Muon said the equitization of SoEs will be enhanced in the next five years by uniting, merging and transferring capital, under which nearly 700 SoEs will be restructured into 44 State owned groups and corporations by 2015 and into 17 by 2020.

It is essential to restructure enterprises based on their areas of business, and operational efficiency and development strategies, to utilize material facilities and human resources more efficiently, Muon noted.

At the conference, PM Nguyen Tan Dung underlined the need to enhance SOEs restructuring in the following years, adding that this is one of the three major targets for restructuring the national economy.

The equitization has created a multi-ownership mechanism and a new dynamic and management mechanism for businesses, which, he said, have helped businesses operate more effectively and be managed in a transparent and public manner, Mr Dung said.

The PM also pointed out their shortcomings and weaknesses that need to be solved in future, due to untimely and unsuitable management mechanisms, slow equitization, low business efficiency in many SOEs, along with prolonged financial losses.

PM Dung laid stress on the consistent targets of continuing to restructure SOEs for more effective operation and ensuring competent performance of the role and tasks assigned by the Party and State, including ensuring macro-economic stability.