Tuesday, November 21 2017

VietNamNews

WB ready to assist with VN reforms

Update: December, 14/2016 - 10:21
Deputy Prime Minister Vương Đình Huệ (R) receives WB Country Director for Vietnam Ousmane Dione yesterday in Hà Nội. — VNA/VNS Photo 

HÀ NỘI – The World Bank (WB) is willing to assist Việt Nam in reforming State-owned enterprises (SOEs), WB Country Director for Việt Nam Ousmane Dione told Deputy Prime Minister Vương Đình Huệ.

At their working session yesterday, Ousmane Dione said the WB will further discuss with Vietnamese ministries and sectors issues relating to the equitisation of State businesses and make specific recommendations for the Vietnamese Government.

WB experts suggested SOEs should mainly operate in important fields pertaining to security and defence. They emphasised the need to balance the accountability and independence of the agency representing the State ownership in relations with economic groups and State management agencies.

Several experts recommended that all small- and medium-sized State enterprises should be equitised, while major corporations and groups can be equitised partly in order to help the State achieve the goal of improving business administration, increasing profits and monitoring the enterprises’ operation on the stock market.

Deputy PM Huệ said Việt Nam was accelerating a project on restructuring SOEs for the 2016-2020 period.

After 15 years, the number of SOEs dropped to 718 from the previous 6,000, he said, admitting that despite the reduction, the rate of equitisation remained low, at only 8 percent of total State capital at present.

Deputy PM Huệ said the WB’s recommendations would help Việt Nam put forth proper policies to reform State businesses, and called on the bank to offer more technical assistance in the field.

The WB also pledged to continue supporting Việt Nam’s efforts in economic restructuring and investment in socio-economic development projects. — VNS

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