Transport Ministry finishes equitization of ten corporations

The Ministry of Transport said that equitization of ten state-own enterprises had been done in September as per schedule and the process was on schedule to other enterprises.

After being equalized, Civil Engineering Construction Corporation Companies No.4 and No.1 and Transport Engineering Design Company have better operated, increasing income for their workers.

The equitization results in 7,737 redundancies from Vietnam National Shipping Lines and the Shipbuilding Industry Corporation.

In the first nine months, the ministry ordered relevant agencies to withdraw VND375 billion (US$17.70 million) from 23 companies belonging to six corporations.

The ministry said it would continue instructing preparation for equitization of the rest 21 enterprises by the end of this year, striving to reduce the number of state-own companies to 16 by 2015.

By Bich Quyen – Translated by Hai Mien

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