Domestic managers and business executives discussed ways to restructure centrally-run State-owned enterprises (SOEs) at a conference in Hanoi on April 2.

Reports at the conference said among the 32 economic groups, corporations and banks under the direct management of the central government, 28 are required to build their restructuring plans during the 2011-2015 period. By now the plans of 24 groups, corporations and banks have been approved, under which all of them will be re-organised in the form of holding companies. The four remaining enterprises have also submitted their plans and are awaiting approval.

Of the 24 groups and corporations, the State will hold 100 percent of charter capital of 15, while nine others are to be equitised.

Equitisation process has been completed at the Bao Viet Group, the Vietnam National Petroleum Corporation and the Vietnam Steel Corporation, the conference heard.

The Vietnam National Textile and Garment Group and Vietnam Airlines will be equitised this year, while four others are scheduled for 2015.

In 2013, centrally run SOEs contributed 297 trillion VND (13.95 billion USD) or 36.6 percent of the year’s national budget collection, delegates noted.

At the conference, the bloc put forth measures to accelerate the restructuring of its businesses and banks between 2014 and 2015, focusing on completing equitization, withdraw investment from non-core business operations and sell unnecessary State-owned stakes.

Addressing the event, Deputy Prime Minister Vu Van Ninh reiterated the importance of the State economic sector, especially State-owned enterprises (SOEs), to stabilising the macroeconomic situation and promoting national socio-economic development.

To this effect, he required that SOEs rearrange themselves to raise the effectiveness of their operation in order to compete on a fair playground with other economic sectors in the market mechanism.-VNA