Promoting SOEs’ role in national economy

09:48 | 05/03/2015 Economy

The Ministry of Planning and Investment and the Office of former UK Prime Minister Tony Blair hosted a seminar on the new role of State-owned enterprises in the national economy and lessons learned for Vietnam.

Promoting SOEs’ role in national economy

Participants at the seminar agreed on the important role of SOEs in the economy and the need to reform this sector aiming to promote national competitiveness and international integration.

Minister of Planning and Investment Bui Quang Vinh said,“In the process of SOEs equitization, we need to call for the participation of several shareholders who will change governance to improve efficiency. It will not be effective and could even create gaps in management if only 5 or 10% of SOEs are equitized. The Vietnamese government affirmed that the state sector plays a key role. We will work with the government to determine the role of the state sector and what areas can be 100%, 75%, 65% or less than 50% equitized”.

Tony Blair with his experience as the UK Prime Minister for more than 10 years said that the reform of SOEs was always challenging due to the obstacles and opposition from different groups of interest.

He said that developing role models will be a lesson for Vietnam.