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VietNamNews

Restructuring helps improve agricultural effectiveness

Update: January, 14/2012 - 09:16

HA NOI — The restructuring of State-owned enterprises (SoEs) in the agricultural sector has helped improve their effectiveness in spite of difficulties caused by the world economic crisis, concluded a workshop held on Thursday to review business performance in 2011.

The Ministry of Agriculture and Rural Development reported that it equitised 14 SoEs last year with 10 businesses holding 51 per cent of the stake.

Four equitised holding companies - Viet Nam Northern Food Corporation, the Viet Nam Southern Food Corporation, Viet Nam National Coffee Corporation and Viet Nam Rubber Corporation - had a total revenue of more than VND42.1 trillion (US$2.02 billion) last year, up 14.8 per cent from 2010.

The agricultural sector plans to continue equitising four more parent companies and six businesses this year, following guidelines set out by Prime Minister Nguyen Tan Dung.

Nguyen Phu Doanh, Deputy Head of the Government Board for Enterprise Renewal and Development, said in 2012 it would be essential to examine difficulties in the capital and stock markets and also in the production of businesses that are seeking to be equitised.

Viet Nam aims to restructure and renew more than 1,300 SoEs in the next five years. — VNS

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