Three state-run corporations were found to incur losses totaling 1.12 trillion dong (US$56 million) in 2009, Le Minh Khai, Deputy General Auditor of the State Audit Office of Vietnam has said. At the press meeting held in Hanoi yesterday to announce the 2009 audit report, Khai said except for these three entities, the other state-run [...]
State-owned enterprises will be required to reduce investments in non-core lines of business from no more than 30 per cent of equity to no more than 15 per cent, under a draft decree being compiled by the Ministry of Finance. A number of major State-owned enterprises have invested in high-risk lines of business, including banking, [...]
The 12th National Assembly Economic Committee has completed a report with 10 proposals for ensuring macro stability of Vietnam in the medium and long terms, under which the committee suggests restructuring the roles of State-owned enterprises (SOEs). According to the committee, the restructuring aims to help SOEs complete basic tasks, fixing shortcomings of the market [...]
Experts have raised concerns over Government capital control at State-owned enterprises (SOEs), since only 12 per cent of the country’s SOEs were audited in the period from 2007-09. Dinh Trong Hanh, head of the State’s Auditing Regulations and Quality Control Department, said the modest number of audited businesses had not reflected the realities of tax [...]
A long-awaited equitisation decree is expected to boost flexibility in sales of state-owned enterprises. The Decree 59/2011/ND-CP, introduced last week to replace the Decree 109/2007/ND-CP on the conversion of state-owned enterprises (SOEs) into shareholding companies, will take effect on September 5, 2011. Nguyen Duy Long, head of the Ministry of Finance’s (MoF) Department for Enterprises [...]
The current legal corridor for monitoring state-owned business groups cannot keep pace with the development of these conglomerates as they have expanded operations beyond their core areas to almost all economic spheres, experts said on Tuesday. Scholars and economists at a conference in Hanoi on State-owned groups agreed that all such concerns had been established [...]
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