In the first four months of 2012, only four State-owned enterprises (SOEs) were equitized, said a report of the Steering Committee for Enterprise Reform and Development. This is a slow progress given an urgent need for SOEs equitization. The Saigon Times Daily talked to Pham Viet Muon, deputy chief of the steering committee, who also serves as vice chairman of the Government Office, on this issue.
The Saigon Times Daily: Could you comment on the progress of the SOEs equitization process so far?
Pham Viet Muon: SOEs equitization began in 1992, and since 2001 has been accelerated. By the end of 2011, we have equitized nearly 4,000 enterprises. The number of SOEs dropped from the original 12,000 to 5,655 in 2001. Now, there are only 1,309 enterprises wholly owned by the State nationwide.
Basically, most SOEs are turning into joint stock companies, attracting more resources from the society. More importantly, the management of these enterprises has been publicized.
Some data show that in 2011 and the first quarter of 2012, the number of equitized SOEs is very modest. Why does the process slow down?
[There are several reasons, but] the decisive factor is the guidance of ministerial and local agencies, State groups and corporations is not drastic enough.
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