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PACIFIC WATCH

Vietnam

March 21, 1994|From Times Staff and Wire Reports

State Control of Economy to Be Eased: The government said it will reduce its direct control of key economic sectors by forming semiautonomous alliances of corporations. The alliances, consisting of at least seven major companies each, will manage their own operations rather than relying on the direction of government ministries, the state-run Vietnam News reported. Prime Minister Vo Van Kiet, a leading advocate of free market reforms, will appoint the managers of each group, the newspaper said. The first corporate groupings will be established in June on a trial basis.

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