PM requires State-owned economic groups focus on main job

December 11, 2011 | 09:57

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Prime Minister Nguyen Tan Dung has asked State-owned economic groups to build their restructuring roadmaps focusing on their main fields of operation as assigned by the Government.

Prime Minister Nguyen Tan Dung - photo:chinhphu.vn

PM Dung made the statement at a conference to review the model of State-owned economic groups in Hanoi on December 9.

While acknowledging the strong points of State-owned economic groups such as a contingent of skillful technical workers and their important role in building major socio-economic infrastructure and implementing key projects serving the nation’s long-term socio-economic development strategies, which other economic sectors are incapable of performing, the PM said a number of groups had invested in operating outside their main jobs, stretching their resources thin and affecting the efficiency of capital use.

PM Dung emphasised the must to build strong State-owned economic groups which are capable of helping ensure macro-economic stability while ensuring effective business activities.

To the target, he asked relevant ministries and branches to review the legal framework for State-owned economic groups to clearly define the executive board’s responsibility, management mechanism and State ownership models at the groups.

The Ministry of Planning and Investment reported that there are currently 12 State-owned economic groups. One of them is in the process of equitisation.

The remaining 11 groups hold 30 per cent of the total property value and 51 per cent of the total capital and almost 40 per cent of the total labour force of the State sector.

They represent 10 per cent of the total asset value, more than 14 per cent of the total capital and 7.6 per cent of the total labour force of all the enterprises in the economy, said the ministry.

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