January 25, 2012
State-owned shipbuilder Vinashin almost collapsed under debts amounting to US$4.5 billion. Vietnam’s Prime Minister Nguyen Tan Dung told state-owned companies to submit restructuring plans, stepping up a drive to bolster the economy by raising efficiency and competitiveness. Detailed proposals involving steps such as selling stakes to private investors and disposing of non-core businesses must be [...]
Tags: companies, Government, inflation, owned, Owned Companies, plans, restructuring, Restructuring Plans, state, State Owned Companies, State-owned, Submit Restructuring, Submit Restructuring Plans, The economy, The government, The Nation, To Submit Restructuring, To Submit Restructuring Plans, Vietnam
Posted in News | Comments Off
January 11, 2012
 A man works at a steel factory in Que Vo District, outside Hanoi . Many companies in Vietnam are facing higher operation costs and lower profits. An annual report that ranks Vietnam’s 500 largest companies based on revenues, profit, growth rate, assets, and number of employees shows that returns are declining for private companies. [...]
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January 9, 2012
A man (L) stands in front of an ATM while a homeless man sleeps in front of an advertisement on a street in Hanoi January 3. Prime Minister Nguyen Tan Dung has acknowledged the surging influence interest groups have on the policymaking process, calling for increased transparency to tackle the issue. Prime Minister Nguyen [...]
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January 7, 2012
Dau Ngoc Hung (L) arrives at Hanoi’s Noi Bai International Airport January 4. Hung is the sole survivor out of 23 sailors who were on board the Vietnamese cargo vessel Vinalines Queen which reportedly sank off the Philippines on December 25 without sending distress signals. The sole survivor from the Vinalines Queen, the Vietnamese [...]
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December 30, 2011
Garment workers are among those receiving low Tet, New Year bonuses this year Vietnam’s highest Tet and calendar New Year bonus for an individual this year as of December 27 was paid by a foreign-invested firm in Ho Chi Minh City at more than US$52,300. The company, which is not named, paid the country’s largest [...]
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Posted in Business | Comments Off
December 25, 2011
After years of sky-rocketing credit growth to finance development, Vietnam’s banking system is now weighed down by toxic loans that have forced the communist nation to launch tough reforms. The Southeast Asian country’s financial sector consists of about a hundred banks — either state-owned, private or foreign bank branches. But most have only limited [...]
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Posted in Business | Comments Off
December 12, 2011
Some important state-owned enterprises, including PetroVietnam, will remain owned by the government Some of the losses that state-owned enterprises incurred were due to their attempts to keep prices stable and to rein in inflation, Prime Minister Nguyen Tan Dung said Thursday. He said state utility Electricity of Vietnam, for instance, had to sell power below cost [...]
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December 3, 2011
A still in Canh dong bat tan (Floating lives) among 17 entries in the feature film category competing at this year’s Vietnam Film Festival 2011 More than 100 movies in various categories have been entered at the 17th National Film Festival to be held in the central coastal province of Phu Yen in mid-December. [...]
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November 16, 2011
Vietnam set a schedule for data releases such as bad-debt ratios and Prime Minister Nguyen Tan Dung ordered the publication of a report on state-owned companies’ finances, following calls for more transparency. The State Bank of Vietnam will release banking industry data including the loan ratios and return on equity, as well as figures [...]
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Posted in Business | Comments Off
November 14, 2011
Workers at a ship yard of the Vietnam Shipbuilding Industry Group, or Vinashin. Many in Vietnam hope the government will pursue reforms that are broad enough and deep enough to fix debt-ridden state banks and rein in inefficient state enterprises (SOEs) such as Vinashin, which embarrassingly defaulted last year. After four years of economic instability, [...]
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Posted in Politics | Comments Off
