Poor-performing State firms – focus of restructuring: PM

State enterprises play a key role in the national economy. (Photo: VNA)

Hanoi (VNA) – The restructuring ofState-owned enterprises should focus on poor-performing and loss-making firms,Prime Minister Pham Minh Chinh has requested.

A notice dated February 28 issued by the Government’s Office regarding the PM’s conclusions at a Cabinet meeting on the project onrestructuring State businesses for 2021-2025 further said that at the meeting, the leader stressed the need toconsolidate institutions, mechanisms and policies to ensure that Stateenterprises play a key role in the national economy.

The restructuring does not mean the equitisation of businesses,the PM said, adding that more efforts are needed to reform administrativeprocedures in order to accelerate the process, divestment andrestructuring of enterprises.

Illustrative image (Source: VNA)

He also ordered improving business administration,taking solutions to effectively allocate State resources, utilising suchresources as capital, land and brands at businesses, closely managing capitaland assets of the State and enterprises in line with legal regulations.

More power should be delegated to businesses, and the Partyshould play a more active role at enterprises and conduct regular inspectionsand supervisions, the PM said.

He also emphasised transparency in the personnelwork, saying specific tasks should be assigned to ministries, agencies andlocalities./.

VNA