Prime Minister Nguyen Tan Dung has asked State-owned enterprises (SOEs) to increase the transparency of their operations and affirm their main role in stabilising the macro-economy.

Chairing a Government meeting with leaders of State-owned economic groups and corporations in Hanoi on January 16, Dung stated that business and production results must be published in a transparent, honest and timely manner so the public understand how SOEs operate.

The Government leader urged the resolute implementation of SOEs restructuring under the approved plan. He asked SOEs to focus on their core business lines and withdraw investment capital from non-major businesses.

Dung asked that groups and corporations facing financial difficulties clarify the responsibility of involved managerial officials and restructure their capital and assets.

“Withdrawing investment must be implemented closely to avoid any negative impacts,” he noted.

According to the PM, the Vietnamese economy made positive achievements in curbing inflation, stabilising the macro economy and ensuring social welfare in 2012, despite numerous difficulties caused by the global economic downturn.

Economic groups and corporations overcame difficulties and sustained production. They continued to help maintain the macro economy and made important contributions to socio-economic infrastructure and key national works, he added.

The PM also pointed out that SOEs need to overcome prolonged losses, weak corporate administration, scattered and ineffective investment, and slow restructuring.

He noted that SOEs should remain a core force in the 2013 economy as many difficulties and challenges remain ahead of them.

According to the Steering Committee for Enterprise Reform and Development, State-owned groups and corporations recorded total revenues of over 1,621 trillion VND (77.2 billion USD) in 2012, accounting for 92 percent of the annual target and up two percent from 2011.

They also reported pre-tax profits of 127.5 trillion VND last year, down five percent from 2011.

Each group and corporation has developed its own comprehensive restructuring plan. 21 businesses were restructured in 2012, of which 13 were equitised, five were merged and three were turned into one-member limited liability companies.-VNA