Chairman of the Ho Chi MinhCity People’s Committee Le Hoang Quan has urged enterprises, especiallythose wholly owned by the State, to strengthen links for mutualdevelopment.
At an April 17 meetingwith representatives from departments, agencies and State-ownedbusinesses in the locality, the mayor suggested enterprises focus onhuman resources development, particularly high-qualified staff.
As banks are reducing lending rates, business players should havespecific plans to access loans for investment in equipment andtechnology, he noted.
Local firms werealso asked to work together for both extensive and intensiverestructuring and stay proactive to cope with more severe competition.
According to the municipal FinanceDepartment, Ho Chi Minh City is home to 108 State-owned companies,15 of which are making procedures for merger, acquisition dissolving andbankruptcy.
In the first quarter ofthis year, these enterprises raked in 15.6 trillion VND (733 millionUSD) in total revenue, down 18.73 percent against the same period lastyear.-VNA