Volkseigener Betrieb (VEB) was a type of state-owned enterprise that was prevalent in the socialist countries of the Eastern Bloc, including the Soviet Union and East Germany. VEBs were owned and operated by the state and were responsible for the production of a wide range of goods and services, including industrial and consumer products, transportation, and other sectors. VEBs played a major role in the economies of socialist countries and were often the largest employers in their respective industries. With the fall of socialism and the transition to a market economy in many Eastern Bloc countries, many VEBs were privatized or dissolved.
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