State-owned enterprises to speed up hire of CEOs

Hanoi (VNA) - Permanent Deputy Prime Minister Nguyen Sinh Hung has assigned the
National Steering Committee on Enterprises Renovation and Development to select
state-owned enterprises (SOEs) to pilot the hire of chief executive officers (CEOs)
in 2009.

In his dispatch on Nov. 27, the Deputy PM entrusted the Ministry of Labour, War
Invalids and Social Affairs with a task to complete a project on SOEs' recruitment
of CEOs, deputy CEOs, directors, deputy directors and chief accountants, as well as
wage and bonus regulations for these managerial and professional positions.

The project is required to be submitted to the Prime Minister in the first quarter
of 2010.

The Prime Minister had earlier allowed five state-owned corporations to implement a
pilot model of hiring CEOs. They included the Vietnam Shipbuilding Industry
Corporation (Vinashin), the Vietnam Motor Industry Corporation (Vinamotor), the
Vietnam Electrical Equipment Corp. (VEC), the Vietnam Glass and Ceramics for
Construction Corp. (Viglacera) and the Multi-Service Transport Corp.

To date, four of them have had their CEO hiring projects approved by the PM.-Enditem