A VCCI (Vietnam Chamber of Commerce and Industry) report released in late 2019 showed that the privileges to ‘crony’ businesses have decreased, but not enough to ensure equal competition among businesses. The report on the implementation of the government’s Resolution No 02/2019 and Resolution No 35/2016 pointed out that the preferences to businesses decreased slightly from 77 percent in 2015 to 70 percent in 2018. The report on the implementation of the government’s Resolution No 02/2019 and Resolution No 35/2016 pointed out that the preferences to businesses decreased slightly from 77 percent in 2015 to 70 percent in 2018. By nature, ‘crony’ businesses are understood as the enterprises which live in the shadow of state-owned or private enterprises to hide relations and collude with state management agencies to obtain privileges that other businesses cannot obtain. Linh Ha Twelve SOEs report losses in 2019 The Ministry of Finance has revealed that twelve out of 136 wholly state-owned enterprises had posted losses of $31 million in the first half of last year, and six others faced warnings regarding financial security. Building credit: How SOEs can get foreign financing for infrastructure State-owned enterprises (SOEs) face unique challenges when it comes to attracting foreign… Read full this story
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