Vietnam Trade Ministry to Privatize 12 SOEs in 2009-10
Vietnamese Prime Minister Nguyen Tan Dung has approved a plan for the Ministry of Industry and Trade to sell shares in its 12 enterprises and change operation model of other four units in 2009 and 2010.
The ministry will privatize Vietnam Electrical Equipment Corporation, Vietnam Industrial Construction Corporation and National Company for Vegetable Oils, Aromas and Cosmetics of Vietnam, and other nine companies.
Machines and Industrial Equipment Corporation and Vietnam Engine and Agricultural Machinery Corporation will be transformed into holding concerns, the government said on its website.
Foodstuff and Technology Investment Corporation and Hai Phong Company for Distribution of Electric Appliances and Machineries will be transformed into one-member limited companies.
As the end of 2008, Vietnam privatized 3,836 state-run enterprises and share sales helped raised VND100 trillion (US$5.6 billion), according to the Vietnam Association of Small and Medium-sized Enterprises. (www.chinhphu.vn)
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