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 [...]
Lawyers at the Singapore-headquartered law firm Rajah & Tann LLP have suggested Vietnamese companies improve trust and transparency in accounting and business practices Lawyers at the Singapore-headquartered law firm Rajah & Tann LLP have suggested Vietnamese companies improve trust and transparency in accounting and business practices so as to attract foreign investors through either joint [...]
3000 businesses reportedly stopped operation in the first six months of the year, according to the Vietnam Chamber of Commerce and Industry (VCCI). A recent survey on 400 businesses shows that most of the financial reports predict losses, instead of profits, for 2011. Nguyen Danh Trong, Deputy Director of the Monetary Policy Department under the [...]
A lack of ownership capital, low productivity and bad loan management have been blamed for Vietnamese businesses’ poor performance, according to a new credit index report. The 2011 report was compiled by the Credit Rating of Vietnam Joint Stock Company (CRV) in co-operation with the Presidential Office and the Viet Nam Chamber of Commerce and [...]
In a time when the economy is down and lending rates skyrocket, many local businesses have no choice but to shut down or cut production and workforce despite their uttermost efforts to survive. Binh Duong Province-based Center for textile materials and accessories and footwear under Lien Anh Co Ltd, for instance, has recently been closed [...]
Private enterprises seem to be at a disadvantage compared with foreign invested enterprises (FIEs) on the home playfield. For the last many years, FIEs in Vietnam have been raising their voice asking for a leveling competition environment, where they can join a fair competition with domestic enterprises. However, experts have pointed out that in fact, [...]
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