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Submitted by ctv_en_7 on Fri, 06/09/2006 - 16:00

A recent survey of 19 equitised businesses in Dong Nai province showed that these businesses posted a 59 percent increase in their combined capital and a 61.5 percent increase in turnover compared to the figures at the time of their equitisation.

A number of equitised enterprises have recorded high growth rates such as the Honey Bee Joint Stock Company with a capital of VND20 billion, 5.1 times more than its statutory capital at the time of equitisation. The Sonadezi Construction Joint Stock Company multiplied its capital by 2.8 to reach VND21.5 billion, and the Industrial City Development Joint Stock Company (D2D) increased its statutory capital from VND41.1 billion to VND73.4 billion.

The southern Dong Nai province has so far equitised 34 State-owned enterprises, converted seven SOEs into one-member limited liability companies, and formed one corporation and two holding companies, with most of them successfully expanding production and increasing competitiveness.

However, the province's equitisation process still faces difficulties, mainly in matters involving company finance, land, property, and bad debts.

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