Developing strong State-owned companies

Prime Minister Nguyen Tan Dung has urged ministries and departments to remove any obstacles, and businesses to devise proper production plans and overcome their difficulties to fulfill their 2011 targets.

The Government leaders held a working session with business groups and corporations, which have been established according to the Prime Minister’s Decision 91.

Deputy Head of the Steering Committee on Enterprises Renovation and Development (SMERD) Pham Viet Muon reported that 20 out of 21 business groups and corporations 91, excluding Vinashin, made profits in 2010. Their total pre-tax profits revenue was estimated to have reached nearly VND70.8 trillion, of which the National Oil and Gas Group, Viettel, the National Post and Telecommunications Group and the National Rubber Group accounted for 80 percent. The Electricity Group incurred losses of VND8,600 billion.

Muon said that in 2010 the groups and corporations 91 made great efforts to fulfill their targets, supply enough products and essential commodities for production, consumption, national security and defence, and social welfare.

For 2011, the SMERD sets eight major objectives, including focusing on obtaining a growth of 15 percent, accelerating the building of key projects and allocating capital for new ones, and restructuring and renovating State-owned enterprises in 2011-2015.

The ministries and departments will research and report to the Prime Minister on the five and ten-year plans to develop economic groups and a plan to restructure State-owned corporations and companies to strengthen them and increase their competitiveness.

At the meeting, businesses agreed with the Government’s policies to maintain macro-economic stability and ensure social welfare. They also urged the Government and central ministries and departments to implement policies that would help them improve their competitiveness and fulfill their targets for 2011. – VOV

Tags: Vietnam companies, Vietnam enterprises, Vietnam SOEs

Posted by VBN on Feb 16 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry