Vietnam Stock Market News

Vietnam Financial News

Trade XRPUSD, Bitcoin and Cryptocurrencies

BUY & SELL XRPUSD | View XRPUSD News & Updates

Buy Sell XRPUSD, Bitcoin and Cryptocurrencies

State firms told to reduce non-core investment operations   2011-06-28 - VNA

The Vietnamese government will require state-invested enterprises to reduce the percentage of capital they invest in non-core business activities under a draft regulation compiled by the Ministry of Finance (MoF).

In a draft decree on management and use of capital and financial management for state-invested enterprises, the percentage of investment permitted for non-core business activities would be reduced to 15 per cent from the current 30 per cent.

State management offices previously ordered state-invested corporations and groups to withdraw their capital from non-core sectors but they had not taken the requirement seriously, said Dang Quyet Tien, deputy head of the Ministry of Finance's Enterprise Finance Department.

The government expected the new draft would restrict corporations and groups from staying, or getting, involved in high risk sectors such as securities, insurance and real estate, Tien said.

In addition to withdrawing unrelated investment capital, MoF proposed development of regulations on supervising the financial situation of state-owned enterprises to promote effective use of state capital, said Tien.

Tran Van Hieu, Deputy Minister of Finance, said the ministry had studied regulations to increase management responsibility and use of capital and assets by enterprises. Enterprise managers would then have an idea of their weaknesses and be able to make timely solutions to the problems, he said.

The government would promote sanctions on enterprise managers that were not in compliance with the regulations, Hieu said.

Other Financial News

SSC says no action needed to rescue stock market now   2011-05-27

Lackluster market forces securities companies to close branches   2011-05-22

Securities companies getting bogged down in losses   2011-05-18

Stock market dysfunctions as fund-raising channel   2011-05-04

Nearly 200 stocks traded below VND10,000   2011-03-17

Listed firms post fourth-quarter losses   2011-02-13

Specific blue chips underpin market rise   2011-01-21

Markets skittish over inflation   2010-12-27

Markets skittish over inflation   2010-12-27

Markets react with indifference to news of double-digit inflation   2010-12-25

CPI figures affect stocks   2010-12-24

Investors keep powder dry before holidays   2010-12-24

The ups and downs on Vietnam’s stock market in 2010   2010-12-22

Shares soar as buyers anticipate property earnings   2010-12-10