Stricter Rule Set for Vietnam State Corps, Groups to Invest in Banks

Prime Minister Nguyen Tan Dung has requested state-owned corporations and groups to submit reports on its plans to invest in banking sector.

 

The request is expected to help improve operations of state-owned corporations and groups, it added.

 

The PM also asked the Ministry of Finance to make assessment on financial capacity and capital demand of these corporations and groups.

 

The National Assembly Standing Committee said in a report in Nov 2009 that up to 45% of total 91 state-owned corporations and groups had been operating ineffectively with ROE at below 10% due to their mass investment in non-core business such as finance, stock, investment funds and realty projects. (VOV)