An employee of the Viet Nam National Chemical Group at work. The group, along with six other State-owned enterprises, has restructured operations to boost efficiency. — VNA/VNS Photo Hoang Hung

HA NOI (Biz Hub)— Seven State-owned enterprises (SOEs) out of the 44 that had their restructuring plans approved have reorganised their management structure to boost efficiency, according to the Ministry of Finance's statistics.

The SOEs include such major firms as PetroVietnam, Electricity of Viet Nam (EVN), Viet Nam National Textile and Garment Group (Vinatex), National Tobacco Corporation, Machines and Industrial Equipment Corporation, Viet Nam Paper Corporation (Vinapaco) and Viet Nam National Chemical Group.

In addition, four had withdrawn from non-core businesses, including EVN, Vinatex, Vinapaco and the Viet Nam National Coal – Mineral Industries Group.

The restructuring was in line with the plan on reforming SOEs during the 2011-15 period approved in the Prime Minister's Decision 929/QD-TTg in July last year.

As of June, 66 SOEs had drafted their restructuring plans, 44 of which were approved.

Statistics showed that 42 out of 92 SOEs had investments in non-core businesses, such as securities, insurance, real estate, investment funds and banks, estimated to total VND22.405 trillion (US$1.06 billion) in investments.

Previously, Deputy Prime Minister Vu Van Ninh asked relevant State organisations to speed up the restructuring of SOEs, with the withdrawal of investment from non-core businesses while ensuring transparency and efficiency.

The restructuring of SOEs aims to improve the performance of the sector, which had been inefficient for many years. — VNS