Update news SOE
The losses reported by Quang Ninh Thermal Power JSC will make it harder for State Capital Investment Corporation (SCIC) to divest the company this year.
The equitisation of State-owned enterprises (SOEs) has fallen behind the target set by the Government and ministries for 2017-2020.
A major proportion of bank loans are provided for the business community, particularly the private sector and individuals.
VietNamNet Bridge - Among the enterprises put under management by the State Capital Investment Corporation (SCIC), there are many firms where the state’s ownership ratio is less than 5 percent.
While some analysts note that a number of foreign banks have withdrawn capital from Vietnam banks, others see signs of a third investment wave from foreign investors.
VietNamNet Bridge - Vietnam spent big money to build a deep-water port but did not build infrastructure for ships to go in and out of the port.
VietNamNet Bridge - A number of small securities companies changed hands in 2017. The buyers were mostly from China and South Korea.
Calls for investing in bitcoin are numerous on the internet, with many ‘secret societies’ set up persuading people to deposit bitcoins.
The business performance of state-owned enterprises is often unclear because of lax management. At many large companies, problems were discovered only after the firms had incurred losses of trillions of dong.
VietNamNet Bridge - More than 96 percent of SOEs slated for equitization have been equitized, but only 8 percent of the state’s capital has been transferred to the private sector.
Analysts have noted that equitized SOEs tend to choose conglomerates with powerful financial capability - real estate developers or financiers - which do not have relations to their core business fields, as their strategic shareholders.