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Submitted by ctv_en_2 on Tue, 02/28/2006 - 08:50
A co-operative agreement on support of equitised enterprises was signed by the Vietnam Chamber of Commerce and Industry (VCCI) and Golden Bridge group from the Republic of Korea (RoK) during a seminar in Hanoi on February 27.

The seminar was the first of a series of activities for better support of equitised enterprises to be jointly held by VCCI and Golden Bridge in 2006. They will provide equitised businesses with training in business administration, issuance of shares and securities and investment consultancy.

 

Vice Director of the Business Finance Department of the Finance Ministry Nguyen Duc Tang said the equitisation of enterprises has helped businesses to attract more investment capital and improve their operations.

 

By the end of 2005, Vietnam had equitised more than 3,100 State-owned enterprises. By the end of this year, the country is projected to have 1,800 wholly State-invested businesses, 900 equitised businesses with major shares held by the State, 500 newly-equitised enterprises with State investment capital, eight business groups and 93 State-owned corporations.

 

Almost all equitised enterprises have registered high growth rates after their first year of operation, with revenue increasing by 140 percent on average and profits doubling. The incomes of workers in equitised enterprises have also risen by 22 percent, and 90 percent of equitised enterprises have recorded better financial results.

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