Poor-performing State firms – focus of restructuring: PM

A notice dated February 28 issued by the Government’s Office regarding the PM’s conclusions at a Cabinet meeting on the project on restructuring State businesses for 2021-2025 further said that at the meeting, the leader stressed the need to consolidate institutions, mechanisms and policies to ensure that State enterprises play a key role in the national economy.

The restructuring does not mean the equitisation of businesses, the PM said, adding that more efforts are needed to reform administrative procedures in order to accelerate the process, divestment and restructuring of enterprises.

He also ordered improving business administration, taking solutions to effectively allocate State resources, utilising such resources as capital, land and brands at businesses, closely managing capital and assets of the State and enterprises in line with legal regulations.

More power should be delegated to businesses, and the Party should play a more active role at enterprises and conduct regular inspections and supervisions, the PM said.

He also emphasised transparency in the personnel work, saying specific tasks should be assigned to ministries, agencies and localities.