Tay Ninh Sugar, one of the five equitised companies (Source: tanisugar)
Tay Ninh (VNA) – The southern province of Tay Ninh has fulfilled its plan on equitisation of State-owned enterprises (SOEs) for 2011-2015.

Nguyen Van Duoc, Acting Director of the provincial Department of Finance, told a review conference on April 7 that a total of five SOEs were restructured over the past five years, including two with more than half of State stakes – The May 1 Tay Ninh Rubber and Tay Ninh Water Supply and Drainage.

The three others are Tay Ninh Auto Register, Tay Ninh Mechanical and Tay Ninh Sugar.

The selling of State-owned stakes in the five one-member limited liability companies brought 429.1 billion VND (19.3 million USD) to the coffer.

According to Duoc, after the equitisation, the companies have maintained stable operation with better profits.

Vice Chairman of the Tay Ninh province People’s Committee Duong Van Thang, who is also head of the provincial board for business renovation and development, suggested the Finance Department coordinate with the equitised enterprises to continue strengthening management and improve the operation efficiency of the companies.

The department should also assign capable officials to represent State ownership at enterprises in which the State still holds a stake to ensure the proper and effective use of State capital.-VNA