This is part of approved state-level project “Restructure, innovate and improve quality of military enterprises by 2020”.
Major General Vo Hong Thang, head of the Ministry of Defence’s Economic Department announced it at a news conference in Hanoi on October 20 to introduce the project.

Major General Vo Hong Thang, head of the Ministry of Defence’s Economic Department announced the information at the news conference

Thang said the ministry will continue to maintain operations of 17 military enterprises wholly owned by the State which are carrying out military and defence tasks along with producing weapons and specialised military equipment.
Meanwhile, the ministry will equitise29 military enterprises in the areas of commerce, construction and services and carry out divestment in 20 joint-stock enterprises. Several small enterprises will be merged and acquired.
The Defence Ministry will hold the ratio of State capital from 51% of chartered capital until 2019 in 12 enterprises after being equitised and the ratio will be adjusted after 2020 in accordance to the law.
For enterprises equitised, merged into cooperation, the model is remained to facilitate mission, avoiding mess up in organization and labor.
The Defence Ministry also required enterprises under the restructuring project to promote communications so that workers are aware of the restructuring and renewal of military enterprises, thus actively responding to the project. All the staff at equitized, merged enterprises are informed to raise acknowledgement, not in the mood of anti-innovation, anti-equitisation.