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Restructuring of state-owned enterprises – The drive to the restructuring of the economy

Luan Van Nguyen 1, *
Hai Van Ngo 2
  1. University of Economics and Law, VNU HCM
  2. Vietnam National University-Ho Chi Minh City
Correspondence to: Luan Van Nguyen, University of Economics and Law, VNU HCM. Email: pvphuc@vnuhcm.edu.vn.
Volume & Issue: Vol. 17 No. 2 (2014) | Page No.: 25-41 | DOI: 10.32508/stdj.v17i2.1333
Published: 2014-06-30

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Copyright The Author(s) 2023. This article is published with open access by Vietnam National University, Ho Chi Minh city, Vietnam. This article is distributed under the terms of the Creative Commons Attribution License (CC-BY 4.0) which permits any use, distribution, and reproduction in any medium, provided the original author(s) and the source are credited. 

Abstract

State-owned enterprises are always a key object of both theory and practice in the Vietnamese socialist-oriented market economy. In the past few years, state-owned enterprises have played an important role in the economic development of Vietnam. They have had a strong growth and constant innovation, meeting better the requirements of economic development and integration. However, in the last years, state-owned enterprises are faced with difficulties and challenges: many enterprises are inefficient in operations and management and suffer from a high amount of bad debts. This paper presents the theoretical basis of the existence, development and role of state-owned enterprises in the Vietnam’s socialist-oriented market economy, analyzes and assesses the accomplishments, shortcomings and limitations of Vietnamese state-owned enterprises in the economic transition period as well as proposes solutions to boost the restructuring process of state-owned enterprises which is a drive to restructure the economy in the manner of enhancing quality, efficiency and competitiveness of the economy.

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