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VietNamNews

Official urges SOEs to strengthen relationships

Update: April, 19/2014 - 09:12

HCM CITY (VNS)— Chairman of the HCM City People's Committee Le Hoang Quan has urged enterprises, especially State-owned ones, to strengthen links for mutual development.

At a meeting with representatives from departments, agencies and State-owned businesses in the locality on Thursday, the mayor suggested that enterprises should focus on human resources development, particularly highly qualified staff.

As banks are reducing the lending rates, business players should have specific plans to access loans for investment in equipment and technology, he noted.

The local firms were also asked to work together for both extensive and intensive restructuring and stay proactive to cope with more severe competition.

According to the municipal Finance Department, HCM City is home to 108 State-owned companies, 15 of which are preparing procedures for merger, acquisition dissolution and bankruptcy.

In the first quarter of this year, these enterprises raked in VND15.6 trillion, or US$733 million, in total revenue, down 18.73 per cent year over year.— VNS


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