Having been driven onto the right track, unprofitable state-owned economic groups and general corporations, informally called ‘iron fists’, thanks to their important role in the economy, have recovered strongly.
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.
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.
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