Loc said the change is expected to improve the effectiveness and competitiveness of the enterprises.
He added that there are many issues that need to be resolved in order to make the process succeed.
| On the list
Prime Minister Nguyen Tan Dung has agreed to turn 15 State-owned groups and corporations into one member limited companies.
They include the Viet Nam Cement Industry Corporation (VICEM), Viet Nam Railway Corporation (VR), the Viet Nam National Textile and Garment Group (Vinatex), the Viet Nam Electricity Group (EVN), Da River Group, House and Urban Development Group (HUD), Viettel, Southern Food Corporation (Vinafood II), Vinacafe, Viet Nam Rubber Group (VRG), Northern Food Corporation (Vinafood I), Viet Nam Shipbuilding Industry Group (Vinashin), The Viet Nam National Shipping Lines (Vinalines) and Viet Nam National Coal and Mineral Industries Group (Vinacomin).
The PM decided to turn three corporations including Vinachem, Vietnam Airlines and Vinataba and two groups of VNPT and PetroVietnam into one member limited companies, as well. |
The head of CIEM, Le Xuan Ba, said it was estimated that as many as 1,000 SoEs would miss the deadline for them to change their status.
Nguyen Dinh Tai, Director of CIEM's Advisory and Training Management Centre and vice chairman of the SoE Club, said Viet Nam is facing shortcomings with respect to the country's definition of ownership of its one-member limited companies.
This makes it difficult to create an effective management structure for the SoEs.
Tai added that the Government has not defined the principles that clarify state ownership rights.
Economists also said State corporations and groups have yet to resolve their regulations for their businesses and subsidiaries including methods, models and implementation of State ownership rights.
The current regulations have not addressed investment among members of corporations and groups, which could result in financial risks for investors.
Nguyen Kim Toan, Head of the Government Office's SoEs Renewal Department, said authorities and SoEs should draft regulations for businesses so that they will follow Business Law next month.
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