Seven State-owned enterprises (SOEs) out of the 44 that had theirrestructuring plans approved have re-organised their managementstructure to boost efficiency, according to the Ministry of Finance'sstatistics.

The SOEs include such major firms asPetroVietnam, Electricity of Vietnam (EVN), Vietnam National Textile andGarment Group (Vinatex), National Tobacco Corporation, Machines andIndustrial Equipment Corporation, Vietnam Paper Corporation (Vinapaco)and Vietnam National Chemical Group.

In addition,four had withdrawn from non-core businesses, including EVN, Vinatex,Vinapaco and the Vietnam National Coal – Mineral Industries Group.

The restructuring was in line with the plan on reforming SOEs duringthe 2011-15 period approved in the Prime Minister's Decision 929/QD-TTgin July last year.

As of June, 66 SOEs had drafted their restructuring plans, 44 of which were approved.

Statistics showed that 42 out of 92 SOEs had investments in non-corebusinesses, such as securities, insurance, real estate, investment fundsand banks, estimated to total 22.405 trillion VND (1.06 billion USD) ininvestments.

Previously, Deputy Prime Minister VuVan Ninh asked relevant State organisations to speed up therestructuring of SOEs, with the withdrawal of investment from non-corebusinesses while ensuring transparency and efficiency.

The restructuring of SOEs aims to improve the performance of the sector, which had been inefficient for many years-VNA