Vietnamplus

Vietnam must continue to improve on its Law on Enterprises, experts and researchers said at a law conference in Hanoi on November 18.

State-owned-enterprises (SoEs) are largely unprepared for the demands of the digital age despite pressing demand for change in the sector, a researcher has said.

As State-owned enterprises (SOEs) have many functions in the local economy, they struggle to fulfil their main task of doing business, so they need solutions to improve business efficiency, according to experts.

Prime Minister Nguyen Xuan Phuc will chair a conference on renovating and improving the operational efficiency of State-owned enterprises (SOEs), slated for late September or early October.

Since 2016, the equitisation and divestment have been carried out at 35 out of 127 State-owned enterprises (SOEs), equivalent to 27.5 percent, while 88 out of 405 firms have completed divestment.

Issues related to land use right continue to pose obstacles to the State-owned enterprises' process of evaluating the businesses and share prices and executing their equitisation plans, experts said at a meeting on August 8.

The equitisation of State-owned enterprises (SOEs) and divestment of State capital have created more products for the M&A market, heard the Vietnam M&A Forum in HCM City on August 6.

Prime Minister Nguyen Xuan Phuc on July 17 asked the Commission for the Management of State Capital at Enterprises (CMSC) to take more flexible approach to dealing with corporate issues in line with the law.

Up to 80 percent of the 19 State-owned economic groups and corporations under the management of the Committee for Management of State Capital at Enterprises (CMSC) earned profits in the first half of this year, fulfilling more than half of their yearly targets, according to the committee.

Competent authorities should give top priority to stabilising the macro-economy and applying flexible macro-economic policies to cope with disadvantageous developments of the regional and world economies, heard a seminar held by the Central Institute for Economic Management (CIEM) in Hanoi on July 12.

Deputy Prime Minister Vuong Dinh Hue chaired a meeting of the Steering Committee for Business Renovation and Development in Hanoi on July 8 to review equitisation, divestment and restructuring of State-owned enterprises (SOEs) and corporate development in the first half and tasks for the remaining months of this year.

Most State-owned enterprises were operating at a profit but still needed to improve their operational efficiency, according to a report by the State Audit Office of Vietnam (SAV).

Capital divestment from State-owned enterprises (SOEs) had slowed and was still facing difficulties, said Dang Quyet Tien, Director of the Corporate Finance Department under the Ministry of Finance.

It is critical to improve the resilience of the Vietnamese economy to withstand and recover from external shocks, experts told a conference in Hanoi on May 15.

The Ministry of Finance has released a circular to instruct State-owned enterprises (SOEs) to use book-building to sell shares owned by the State.

The adoption of International Financial Reporting Standards (IFRS) will be compulsory for State-owned enterprises (SOEs), listed companies and large-scale unlisted public companies after 2025, according to a draft project the Ministry of Finance recently made public for comments.

The amendments to the Law on Enterprise and Law on Investment must include stronger solutions to thoroughly and comprehensively reform State-owned enterprises (SOEs) and enhance their efficiency, according to the Vietnam Association of Financial Investors (VAFI).

Vietnam needs a strategy to promote the development of private firms with a focus on quality, as their contribution to the economy remains modest, attendees heard at a conference in Hanoi on March 15.

Prime Minister Nguyen Xuan Phuc has approved a new plan that focuses on restructuring the securities market until 2025.

The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem.