Number of SOEs in Vietnam halved after 13 years

The number of State-owned enterprises – with State ownership from 50 percent to 100 percent - had been halved to 3,135 as of January 2013 compared to 5,759 enterprises by 2000, the Saigon Times said, quoting sources from the General Statistics Office’s Industrial Statistics Department.
The number of State-owned enterprises – with State ownership from 50percent to 100 percent - had been halved to 3,135 as of January 2013compared to 5,759 enterprises by 2000, the Saigon Times said, quotingsources from the General Statistics Office’s Industrial StatisticsDepartment.

Compared to 2000, the number of SOEsearly this year was equivalent to 54.4 percent. However, revenues ofsuch enterprises earned last year was 6.9 times higher than in 2000while their total pre-tax profits and budget contribution amountsincreased by 9.4 times and 8.1 times respectively.

According to the General Statistics Office, 2,854 out of the 2,893 SOEsthat responded to a survey were actually in operation (98.7 percent) and39 enterprises had stopped operation (1.3 percent).

Besides, among 39 enterprises with suspended operation, enterpriseswaiting for dissolution and bankruptcy accounted for the highestproportion with 41 percent, those seeking rearrangements over 33 percentand those suspending to business for changing technology over 10percent. Meanwhile, over 15 percent suspended due to other reasons.

The supply of products and services of State-owned enterprises accounted for a market share of around 32 percent.

Among 2,893 enterprises, there were 1,347 units required to turnshareholding and the rest had to be merged or converted into one memberlimited liability companies.

According to thesurvey, the ratio of profit to revenue of equitized enterprises tendedto rise, with nearly 40 percent of the enterprises seeing an increase ofover 10 percent and 37 percent of these enterprises recording a rise ofless than 10 percent.-VNA

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