Vietnam Airlines to Go Public in 2008

National flag carrier Vietnam Airlines will have to go public in 2008 under a Government decision issued on the weekend.

The equitization plan is expected to help the corporation to sharpen its competitive edge as the nation faces stiffer foreign competition.

Vietnam Airlines currently has 18 units, three subsidies and nine equitized companies, and has partnership in nine other companies, including four joint ventures with foreign companies.

Government chief inspector Tran Van Truyen warned in a recent report that the carrier has to promptly improve poor management if it does not want bankruptcy.

Besides Vietnam Airlines, the weekend’s Government decision listed State-run corporations that have to go public between 2007 and 2010. The nation’s Textiles and Garments Group will have to do this next year, while the Vietnam Cement Corporation, Song Da Corporation and Lilama Corporation will by 2010.

Reported by Kien Quoc – Translated by Tuong Thuy

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