Seven Business Giants Proposed To Join Large-scale SOEs Development Project

These groups include three high-tech ones, namely the military-run Industry and Telecoms Group (Viettel), the Viet Nam Post and Telecommunications Group (VNPT), the Viet Nam Mobile Telecom Services One Member Limited Liability Company (MobiFone).

Other SOEs are the Viet Nam Electricity (EVN) and the Viet Nam Oil and Gas Group (PVN), the SaiGon Newport Corporation, and Vietcombank.

These proposed SOEs have to meet several criteria like asset value, market share, competitiveness, return on equity, and capacity to implement OECD Principles of Corporate Governance, according to Minister of Planning and Investment Nguyen Chi Dung.

The selected SOEs are expected to play a leading role in establishing and expanding domestic, regional and global production and value chains, and in promoting innovation, said Mr. Le Manh Hung, Director of the ministry’s Enterprise Development Agency.

The large-scale SOEs development project is developed by the ministry at the request of the Government in February last year in a bid to promote their role in the country’s socio-economic development.

The Government has asked the Ministry of Planning and Investment to build a project on developing large-scale State-owned enterprises (SOEs) to promote their role in the country’s socio-economic development.

SOEs accounted for 0.07% of the total number of enterprises in Viet Nam./.

By Kim Loan