Master Plan needed to restructure transport sector

It is vital to devise a Master Plan to restructure the transport sector, so steps to restructure its groups and corporations can be put in place by late 2013. 

The request was made by Deputy Prime Minister, Vu Van Ninh, at a conference in Hanoi on October 19 to review 10 years of restructuring and enhancing the operational performance of State-run businesses belonging to the Ministry of Transport.

  The key tasks of the Master Plan should focus on restructuring, reforming and equitizing state-owned enterprises. In addition, the Ministry needs to look at training, improving the management, and increasing the quality of human resources, said Thang.

Over the past ten years, the Ministry has finalized the equitization of independent state-owned companies and member companies of corporations.

The operations of equitized enterprises have proven to be more effective, helping increase State revenue and workers’ income by 10 percent.

Remarkable progress has been made in applying advanced technology in the construction of bridges and roads, ship building and automobile manufacturing.

So far, enterprises in the sector have been able to carry out large-scale projects, improve production technology, and produce high-quality industrial products to compete with domestic and foreign businesses.

However, the process of restructuring and equitizing enterprises reveals some limitations due to financial difficulties and capital shortage.

In his speech, Minister of Transport, Dinh La Thang, highlighted the need to continue restructuring businesses and reinforcing business administration for the 2012-2015 period toward the goal of equitizing 70 enterprises.

It is essential to restructure enterprises of the same business areas, the Vietnam Shipping Industry Corporation (Vinashin), capital, and organization models in order to increase the operational efficiency of all corporations.

The sector needs to set up economic groups and major corporations that support transport projects such as developing transport infrastructure facilities, express ways and airports, said Thang.

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