At Sacombank’s annual general meeting held on June 5 its permanent vice chairman Pham Van Phong said that in 2019 the bank’s pre-tax profit increased by 43.2 per cent to VND3.2 trillion (US$137.5 million), which was 21.4 per cent above the target.

Foreign investors are speeding up the restructuring and reallocation of their production networks globally, with Vietnam considered a bright candidate for investment given its location within the world’s most dynamically-developing region.

A master plan to streamline the central Government by trimming down ministries will be developed and determined in 2020, according to Minister of Home Affairs Le Vinh Tan.

The public capital must be allocated based on market principles, said an expert.

Contributing their ideas to the 2020 auditing plan, National Assembly deputies said it is necessary to audit the three zero-dong banks to discover their real financial situation.

OCD An Thuan Phat Auctioning has announced the auction of Vinalines’ ships on August 9 as authorized by the national shipping line firm.

Taking advantage of the period during which Vietnamese banks are focusing on restructuring and bad debt settlement, foreign banks have been gearing up for bigger market share.

The Viet Nam Sea Transport And Chartering Joint Stock Company, Viet Hai Shipping & Real Properties Corporation and Seagull Shipping Joint Stock Company are among the maritime transport companies that have had to shift their shares

Vietnam once gave investors the green light to set up a series of universities in an effort to increase the number of students. But now it has to dissolve many of the schools to ensure training quality.

VietNamNet Bridge - Dong and foreign-currency liquidity was plentiful throughout the year. The interest rate was stable at a five-year low while the dong/dollar exchange rate was also stable with the dong depreciating by 1.2 percent.

VietNamNet Bridge - In the context of limited domestic resources, attracting foreign capital to banks is seen as a viable solution to bank restructuring.

 VietNamNet Bridge – Priority will be given to the restructuring of agriculture next year to ensure higher growth for the sector, the Ministry of Agriculture and Rural Development said in a statement.

 VietNamNet Bridge – Vuong Dinh Hue, Deputy Prime Minister and head of the Steering Committee for Enterprise Renewal and Development speaks with Thoi bao Kinh te Viet Nam about the restructuring of State-owned enterprises

 VietNamNet Bridge – Governor Le Minh Hung of the State Bank of Vietnam (SBV) has called for foreign investors to participate in the restructuring of the banking system.

Dang Quyet Tien, Deputy Director of the Department of Enterprise Finance, under the Ministry of Finance, spoke to the newspaper Kinh te & Do thi on the importance of having a correct understanding about the equitisation process of SOEs.

The irrecoverable debts of 12 Vietnamese commercial banks by September 30, 2015 had reached VND23.522 trillion, which accounts for 65 percent of bad debts, representing a 15 percent increase from the 50 percent reported in mid-2015.

VietNamNet Bridge - The equitization of a series of state-owned enterprises (SOEs) will end with a large part of public assets falling into the hands of a group of ‘the super rich’. 

The number of commercial banks cut from 42 to 34 in the last four years when the banking system underwent a restructuring process, considered ‘major surgery’. No bank went bankrupt. 

 VietNamNet Bridge – Vietnam needs to restructure its economy to achieve sustainable development and consider green growth an intrinsic part, while keeping in mind the poor people,