Prime Minister Nguyen Tan Dung has stressed the restructuring of state-owned enterprises (SOEs) as a key political task for 2014 and the following year.

The PM told a conference on SOE restructuring in Hanoi on February 18 that the restructuring must be implemented in earnest with focus on the equitisation of state-owned enterprises.

He instructed ministries and localities to effectively carry out the equitisation of 432 SOEs during the 2014-2015 period, while considering further reducing the number of enterprises funded entirely with State capital and more divestiture in state capital dominant companies.

At the event, PM Dung hailed important contributions by SOEs to the country’s development over the past years, saying that SOEs have been a tool for the State to regulate the economy, maintain macroeconomic stability, contributing to promoting growth.

SOEs have promoted their leading role in building and developing the infrastructure system, research and application of science and translation of advanced technology into production and business, especially in oil and gas, telecommunications, transport, construction and chemicals.

Statistics released at the onference showed that a total of 432 SOEs will be equitised during the 2014-2015 period, which is seen as a huge job in need of breakthrough measures.

By 2015, State groups and corporations will withdraw nearly 22 trillion VND (roughly 1 billion USD) invested in fields outside their core business.

Participants at the event underlined the need to soon issue regulations on the management and inspection of State groups and corporations along with supervising the implementation of strategies and plans.

Reports presented at the conference revealed that during the 2011-2013 period, 180 SOEs nationwide were rearranged with 99 equitised, raising the total number of privatised businesses to 4,065.

Most of the equitised enterprises have seen remarkable growth, contributing to improving the economy’s competitive edge and promoting stock market restructuring.

Between 2011 and 2013, State capital poured into the enterprises has climbed from 700 trillion VND (32.9 billion USD) in 2010 to 810 trillion VND (38.07 billion USD) in 2011 and 1,019 trillion VND (47.9 billion USD) in 2012.-VNA