Vietnam: Eight State-owned agri firms to equitise

Prime Minister Nguyen Tan Dung approved a plan on Monday for reorganising State-owned enterprises under the Ministry of Agriculture and Rural Development during 2007-08.

Eight corporations would be equitised this year under the plan, including Sugar and Sugar Cane Corporations 1 and 2, the Agriculture and Rural Development Construction Corporation, the Agricultural Supplies Corporation, the Irrigation Construction Corporation No 4, the Viet Nam Salt Corporation and the Viet Nam Mulberry, Silkworm and Silk Corporation and the Agriculture and Irrigation Electro-Mechanical Corporation.

In addition, 23 State-owned companies would also the equitised and eight others restructured as single-member limited companies.

Viet Nam Forestry Corporation, the Viet Nam National Fruit, Vegetable and Agricultural Produce Corporation, the Viet Nam Breeding Corporation and Viet Nam Tea Corporation would all be slated for equitisation in 2008, said the ministry.

The Ministry of Agriculture and Rural Development would have responsibility to guide implementation of the restructuring and renewal plan.

Source: vietnamnews.vnagency.com.vn