The Prime Minister has recently approved a scheme on reform of state management of businesses toward equality among all forms of business ownership, and more effective business operation and administration in order to realize Vietnam’s WTO accession commitments
Prime Minister Decision No. 1715/QD-TTg of October 26 requests assurance of equality of state-run, foreign-invested and private enterprises in their relationship with the State under the market mechanism, separation of the management by the State from administration by state enterprise managers in terms of method and apparatus.
To realize the scheme, the Decision proposes uniform business conditions applicable to all types of business; fewer state monopolies in which state enterprises are entitled to special privileges; equal right to receive state credits, government bonds and foreign aid; and performance of state business administration under market rules and with equal treatment of the state owner and other owners of state enterprises in the mixed ownership form.-