Vietnam Begins Settling SOEs’ Bad Debts

Vietnam's Ministry of Finance (MoF) has issued a decision requiring the first 20 State-owned enterprises (SOEs) to work with the recently established State-run Debts & Assets Trading Co. (DATC) for settling their overdue debts, a breakthrough step in boosting the privatization process of SOEs, which has proceeded slowly recently.

DATC will have to sign debt and in-stock assets purchasing contracts with those companies within 10 days after the Prime Minister’s approval on value of debts and assets of the companies.

• T.V