Some suggestions for renovation of the state owned enterprises in Vietnam
Abstract
The renovation of the state owned enterprises SOEs to raise their efficiency is a major policy of the Party and State of Vietnam to materialize for the cause of industrialization and modernization of the country. In spite of considerable successes from the renovation of the state owned enterprises SOEs in the last 10 years the process does not seem to meet the reality and projected targets as expected and a number of problems involved need to be looked at. The author of the article presents several suggestions so as to accelerate the renovation process to raise the efficiency and performance of the SOEs. His suggestions include:- Amending and changing a number of mechanism and policies to conform to reality and raising their actual implementation of the current state policies
- Renovating the State corporations shaping and developing the financial companies within the state owned corporations
- Building the model of the parent- son companies; economic conglomerates and the monopoly of the control over the state owned corporations
- Accelerating the process of equitisation of the state owned enterprises, developing the stock market; establishing asset management companies AMCs
- Building a healthy and efficient state management apparatus to ensure the success for the renovation of the economy in general and the state owned enterprises in particular.