MoT takes lead in restructuring SoEs

16:28 | 11/09/2014

VGP – The Ministry of Transport (MoT) has been in the front line in restructuring State-owned Enterprises (SoEs), said Deputy Minister Nguyen Hong Truong.

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By January, 2011, the MoT had 94 State-owned enterprises. All faced big problems, due to a shortage of capital resources. Bad debts and high interest rates seriously affected their production. Many were on the verge of bankruptcy.

To solve the problem, over the last three years, the ministry has successfully equitized 54 enterprises, including some big corporations, said the Deputy Minister, adding that as many as nine enterprises were equitized in the first seven months of 2014.

By the end of next year, the restructuring process of the SoEs in the ministry will be completed, he confirmed.

By Thuy Dung