The Ministry of Transport has set to restructure its wholly state owned enterprises completely in 2013 to make them highly competitive with better governance and operation in local and global competitions.

To that end, the enterprises in the sector are advised to gradually tackle the bad debts they still owed coupled with market development, according to instructions issued by Transport Minister Dinh La Thang at a meeting held by the ministry in Hanoi on March 27.

Minister Thang asked relevant agencies to assist the enterprises in removing hindrances so that the later can complete the assigned business duties, viewing the work as a precondition for restructuring and equitisation to be carried out to the maximum.

During this process, the target companies should conduct state audits in an open and transparent manner to build up trust and determination for those involved in the work, the minister added.

By the end of 2012, the ministry has 88 wholly State-owned enterprises. It completed the appraisal of and approval for the project on restructuring state corporations steered by the Prime Minister.-VNA