State-owned enterprises (SOEs) in Vietnam operate more effectively after they are equitized, local newspaper Vietnam News on Tuesday quoted a recent survey's results.

The survey conducted on 850 equitized companies in 2005 by relevant agencies under Vietnam's Ministry of Planning and Investment showed that their capital increased by an average of 44 percent, revenue by 24 percent, profit 140 percent, and employees' income by 12 percent.

Last year, 754 SOEs underwent restructure, of which 724 were equitized, bringing the total numbers of restructured and equitized SOEs to 5,655 and 3,245, respectively.

The ministry said the process of equitizing large SOEs, including those operating in such important fields as telecommunications, coal, petroleum, electricity, shipbuilding and banking, will continue this year.

Some 38,000 private enterprises were established in 2005, raising the total number of private companies in Vietnam to 200, 000, the ministry said, noting that the private sector has greatly contributed to national economic growth.

Source: Xinhua