SOEs

Update news SOEs

Monopoly brings profit to state owned conglomerates

 VietNamNet Bridge – The profits made by the state owned conglomerates operating in the key business fields are believed to be undeserving to the huge capital and power given to them.

Numerous SOEs to perform IPOs in 2014

 VietNamNet Bridge – In 2014, the government will drastically restructure state-owned enterprises (SOEs) and a series of large SOEs will perform initial public offerings (IPO) and listing.

BUSINESS IN BRIEF 13/1

 Gov’t to borrow VND100 trillion through bond sales; HSBC forecasts bright year for Vietnamese exports; Stock market offers rich opportunities; Grounds for optimism as market thaws; Textile exports forecast to grow

400 SOEs bankrupt or dissolved in 2013: Finance Ministry report

 VietNamNet Bridge – More than 400 State-owned enterprises (SOEs) declared bankruptcy or were dissolved last year, according to the Ministry of Finance.

Big state owned corporations ask for bigger power

 VietNamNet Bridge – Having powerful financial capability and enjoying privileges as state owned enterprises, they still want more power, more capital and more privileges.

BUSINESS IN BRIEF 30/12

 Danang suggests bond issuance; Number of SOEs halved after 13 years; Overseas remittance to HCMC estimated at US$4.8 billion in 2013; FDI sector witnesses large trade surplus; Public debt may account for over 98% of GDP

Government to boost non-core divestment

VietNamNet Bridge – The Government will release a resolution stipulating some special measures to help State-owned groups and corporations to quickly withdraw their investments from non-core sectors,

State’s stakes go for a good price

 VietNamNet Bridge – Investors have arranged big money ready to disburse for the big investment deals once the State sells its stakes in some enterprises.

Government considers selling state’s capital at a loss

The government may allow state owned economic groups and general corporations to sell stakes at the prices below the book value as a solution to accelerate the state owned enterprise restructuring process.

Vietnam “caught in a shore” because of SOEs?

Vietnam once missed the opportunity to reform its state owned enterprises (SOEs) when joining WTO. Another opportunity has come when it negotiates for the Trans Pacific Strategic Partnership Agreement.

Economist says big SOEs’ VND1,350 trillion debt not worrying

 VietNamNet Bridge – A government report showed that the127 state owned economic groups and general corporations now incurred the debts worth VND1.35 trillion. However, the huge sum is still believed to be within the safety line.

Tax crackdown nets FDI enterprises

 VietNamNet Bridge – A tax management crackdown was thought to have resulted in higher tax contributions from foreign-invested enterprises.

State groups owe over $64.3 billion

 VietNamNet Bridge – Many state corporations have the debt-to-equity ratio of up to a dozen times. Overdue debts of the Vietnam Oil and Gas Group or the Vietnam Maritime Corporation are up to trillions of VND.

TPP negotiations in progress

 VietNamNet Bridge – The latest round of TPP negotiations was wrapped up in Utah, Salt Lake City, the US, on November 26, opening up opportunities for concerned parties to reduce disagreements before the TPP Ministerial Meeting

Vietnam’s public debt may reach 95% of GDP

 VietNamNet Bridge – If counting on the loans of state-owned enterprises’not guaranteed by the government, Vietnam's total public debt would be 95 percent of GDP, far exceeding the safety line of 60 percent of GDP.

SOEs’ managers pocket big money and keep complaining about difficulties

 VietNamNet Bridge – The managers of the state owned air carriers, power, petroleum and food corporations still can receive VND1 billion a year despite the bad business performance.

How much do SOEs’ managers earn?

The official statistics by the Ministry of Labor, War Invalids and Social Affairs showed that the managers of state owned enterprises (SOEs) earn tens of millions of dong a month. However, analysts believe that the actual figures are much higher.

Deputy PM: Gov't wants to sell unprofitable SOEs instantly

 VietNamNet Bridge – What should the State do – selling unprofitable state owned enterprises (SOEs) which cannot bring profits any more, or selling profitable SOEs which keep laying golden eggs?

Restructuring: Does it really happen?

 VietNamNet Bridge - For years, the word "restructuring" has become so familiar to many people, but not many people have seen the results of restructuring. Experts say that they have just heard about restructuring, not seen it.

Experts skeptical about transfers of ailing SOEs

VietNamNet Bridge – Local experts during a meeting on Wednesday said that the transfer of ailing State-owned enterprises to other sound SOEs will only see problems of the enterprises spreading widely instead of giving the firms proper therapy.