Vietnam welcomes ADB's support for restructuring state-owned enterprises

This is the content emphasized by Deputy Prime Minister Vu Van Ninh during the meeting with Mr. Tomoyuki Kimura, Country Director of the Asian Development Bank (ADB) in Vietnam.

Deputy Prime Minister Vu Van Ninh received Mr. Tomoyuki Kimura, Country Director of the Asian Development Bank (ADB) in Vietnam - Photo: VGP/Nhat Bac

Deputy Prime Minister Vu Van Ninh highly appreciated ADB's attention and contributions in policy consultation, technical and financial support for economic restructuring in general and state-owned enterprise restructuring in particular.

The Deputy Prime Minister said that Vietnam has set out a 10-year development strategy and a 5-year plan, focusing on maintaining sustainable growth, ensuring social security, along with innovating the growth model and improving the investment environment. Therefore, ADB's projects currently being implemented will certainly make positive contributions to the restructuring process and innovating Vietnam's growth model.

Speaking at the reception, Mr. Tomoyuki Kimura affirmed ADB's commitment to supporting development in Vietnam in general, supporting economic restructuring, especially restructuring state-owned enterprises in particular.
Mr. Tomoyuki Kimura said that recently, ADB has approved a support strategy for Vietnam in the 2012-2015 period, focusing on reform areas, especially reform and restructuring of state-owned enterprises.

Discussing Vietnam's viewpoint on restructuring state-owned enterprises, Deputy Prime Minister Vu Van Ninh said the common consensus is that not in all fields, not in all localities, the state must hold 100% of capital or controlling shares in enterprises, but only in fields related to natural resource exploitation and ensuring social security, which are fields that private enterprises do not do, do not want to do or cannot do.

In areas where the state does not need to hold a controlling stake, all state capital will be divested. In areas where the private sector is performing well, the state will create conditions for them to develop.

Photo: VGP/Nhat Bac

Besides, state-owned enterprises must operate according to market mechanisms, ensuring equality between state-owned and private enterprises.

The Deputy Prime Minister said that in the coming time, a series of policy mechanisms will be revised and adjusted to ensure consistency and conformity with international practices and the new situation. In that context, Vietnam hopes that ADB will continue to support it in terms of capital, experience and policy consultation.

Mr. Tomoyuki Kimura highly appreciated the Vietnamese Government's strong commitments to reforming state-owned enterprises. From the perspective of international investors, Mr. Tomoyuki Kimura said that it is necessary to improve transparency and increase information so that investors can see the Government's determination, implementation plan, and roadmap for restructuring state-owned enterprises to help them feel secure and confident in investing in Vietnam.

According to (Chinhphu.vn)-LT