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Official Gazette

Tuesday, July 14, 2020

Stricter disciplines set out for state corporations, business groups upon reorganization

Updated: 17:33’ - 20/06/2017
The Prime Minister has adopted a scheme on restructuring of state-owned enterprises (SOEs), focusing on state corporations and business groups, in the 2016-2020 period with a series of strict requirements.

Activities of state corporations and business groups__Photo: Internet

According to the scheme signed on May 25,  the Ministry of Planning and Investment is tasked to present to the Prime Minister for approval a list of SOEs that are required to make divestment in the 2016-2020 period before June 25, 2017.

The Ministry of Labor, War Invalids and Social Affairs will have to review the implementation of the Labor Code in SOEs while the Ministry of Justice will review the implementation of the Law on Business Bankruptcy and report to the Government for submission to the National Assembly for revision.

Members’ Councils of State corporation and business groups will present to competent authorities their own business restructuring plans for the 2016-2020 period before July 31, 2017.- (VLLF)

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