Former Petrolimex officials punished for violations Politics

Former Petrolimex officials punished for violations

The Inspection Commission of the Party Central Committee has proposed taking disciplinary measures against Bui Ngoc Bao, a former leader of the Vietnam National Petroleum Group (Petrolimex) for violations by the Standing Board of the group’s Party Committee.
PM to chair conference on SOEs Politics

PM to chair conference on SOEs

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.
Politburo issues disciplinary warning against former Deputy PM Politics

Politburo issues disciplinary warning against former Deputy PM

The Political Bureau of the Communist Party of Vietnam Central Committee on July 19 decided to issue a disciplinary warning against Vu Van Ninh, former member of both Party Central Committee and Government’s Party Civil Affairs Committee and former Deputy Prime Minister.
80 percent of State-owned economic groups earn profits Business

80 percent of State-owned economic groups earn profits

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.
Most SOEs operating at a profit: audit Business

Most SOEs operating at a profit: audit

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).
State capital divestment faces pressure Business

State capital divestment faces pressure

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.
Draft simplifies SOE stake bidding for foreigners Business

Draft simplifies SOE stake bidding for foreigners

The State Bank of Vietnam has drafted a regulation which would create favourable conditions for foreign investors to join in the process of State-owned enterprises’ (SOEs) privatisation and capital divestment.
SOE equitisation, divestment fall short of target: Ministry Business

SOE equitisation, divestment fall short of target: Ministry

Only 11 State-owned enterprises (SOEs) were equitised in the first nine months of this year, making the country’s target to complete the equitisation of at least 85 SOEs this year unlikely to reach, according to an official from the Ministry of Finance (MoF).
Lower corporate income tax on SMEs proposed Business

Lower corporate income tax on SMEs proposed

Corporate income tax levied on small and medium–sized enterprises (SMEs) should be reduced to promote the business development, a solution together with broadening tax base to increase budget revenue from business and production.
Petrolimex: business on track following restructure Business

Petrolimex: business on track following restructure

Prime Minister Nguyen Xuan Phuc sent a working group to the Vietnam National Petroleum Group (Petrolimex) on September 25 to examine the firm’s implementation of tasks assigned by the Prime Minister and the Government so far.