Early 2018, Vietnamese Prime Minister Nguyen Xuan Phuc said he wants “stronger commitments to restructuring public investment and state-owned enterprises”. Vietnamese Ministry of Finance and other Vietnamese organizations in both private and public sectors are hopeful privatization of SOEs will help Vietnam obtain much needed capital from investors as Vietnam’s capability to digest large investments comes into question, primarily concerning more stringent conditions foro companies to IPO and become public, company governance and disclosures, and penalties for manipulation and insider trading, among other questions and concerns.
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Legitimate concerns also remain about Vietnam’s high public debt which was as high as 64 percent. In trying to attract investors Vietnam government is considering non-voting depository receipts for investors but this can erode confidence in the object of privatizing SOEs. A lot of analysts say that years of mismanagement and pervasive corruption have created a mess for financials of many SOEs in Vietnam.
Vietnam political system
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