Vietnam premier wants to finish privatizing 289 state-run firms by 2015

[frequency]

Yes, it's coming. It's also bad news for the people when foreigners own your private assets. They basically got you by the balls and will squeeze it if you don't behave.

About 75% of Canada's companies are foreign owned. Anytime there is a recession or downturn in economy, they lay off the people from Canada first.

I wonder if you even know what youre talking about. There are labor laws and laws that regulate business practices in Canada for foreigner owned companies which you obviously never heard of.

Recession could happen to anyone at anytime. Layoffs are part of the economic slowdown. Nothing to do with foreign enterprises.

Since your Chinese government and officials never care about the well being of the Chinese people, they don't bother to create laws to protect you from the abusive treatment that were put on your people by foriegn owned enterprises that you don't even know or appreciate the value a democratic world.

Your chinese government harnesses the power of your people's cheap labor to protect its revenues so they can continue to compete with the capitalist nation such as US. In fact, your corrupted government could careless about the 1 billion poor Chinese trying to make a living on a dollar a day basis. They keep those people poor for the reason of cheap labor. I could go on but I'm afraid your brain washed mind can't handle the truth.

You obviously never live in Canada and clueless about the laws in Canada.

 

[Carlosa]

Vietnam is finally selling their national assets which theoretically owned by all her people.

After all the privatization work is done, VCP's prestige and reputation will be undermined by private business and foreign peers, since VCP has lost its control of Vietnam's economy, their orders are no more effective. So what's next? Mutil party system for Vietnam?

Also I suggest China should begin to find her agent in Vietnam.

@Edison Chen, @Jlaw You guys don't understand what's going on in Vietnam.
@Shotgunner51 @Nihonjin1051 @mike2000 is back @Viet are right.

Those SOEs are a cancer. They owe 69 billion usd and for what? They sucked all the bank capital at low rates and then they invested it into real state speculation that caused a real state bubble that recked the economy a few years ago.

The sooner they sell those SOEs the better. They are run by totally corrupted and incompetent cronies of the political elite and VCP.

Why the state needs to own a milk company?

The few companies that are actually good or are strategic are not for sale or only a minority share is for sale.

 

[Aepsilons]

@Edison Chen, @Jlaw You guys don't understand what's going on in Vietnam.
@Shotgunner51 @Nihonjin1051 @mike2000 is back are right.

Those SOEs are a cancer. They owed 69 billion usd and for what? They sucked all the bank capital at low rates and then they invested it into real state speculation that caused a real state bubble that recked the economy a few years ago.

The sooner they sell those SOEs the better. They are run by totally corrupted and incompetent cronies of the political elite and VCP.

Why the state needs to own a milk company?

The few companies that are actually good or are strategic are not for sale or only a minority share is for sale.

I worked as an analyst for a large Fortune 500 company and have experience in risk analysis, have colleagues who adjunct as economics instructors at a local university. It is generally agreed that SOEs have low performance due to high corruption and internal control abuses. This is standard managerial economics concept and especially for closed economies where there is a lack of established internal audition.

Privatization of Vietnamese assets will bring tenfold return to the economy of Vietnam. Constrictive economic policy does more harm than good anyways. Vietnam can learn from China's failures in this regard. And apply the very same policy changes that the chinese are implementing in earnest. As per their recent Plenum.

@Edison Chen, @Jlaw You guys don't understand what's going on in Vietnam.
@Shotgunner51 @Nihonjin1051 @mike2000 is back @Viet are right.

Those SOEs are a cancer. They owe 69 billion usd and for what? They sucked all the bank capital at low rates and then they invested it into real state speculation that caused a real state bubble that recked the economy a few years ago.

The sooner they sell those SOEs the better. They are run by totally corrupted and incompetent cronies of the political elite and VCP.

Why the state needs to own a milk company?

The few companies that are actually good or are strategic are not for sale or only a minority share is for sale.

Precisely. Vietnam can declare certain strategic areas non negotiable , but the rest? Privatize the rest. Business is business, baby....

 

[Carlosa]

I worked as an analyst for a large Fortune 500 company and have experience in risk analysis, have colleagues who adjunct as economics instructors at a local university. It is generally agreed that SOEs have low performance due to high corruption and internal control abuses. This is standard managerial economics concept and especially for closed economies where there is a lack of established internal audition.

Privatization of Vietnamese assets will bring tenfold return to the economy of Vietnam. Constructive economic policy does more harm than good anyways. Vietnam can learn from China's failures in this regard. And apply the very same policy changes that the chinese are implementing in earnest. As per their recent Plenum.

Totally right.
To say that SOEs have low performance is an understatement for Vietnam. They are not even good for the country or for the interest of the people. They are actually very good at ripping off the customers big time as the oil company in Vietnam does and as a consequence of that, gasoline prices in Vietnam are higher than in USA. Like I said, a cancer.

 

[Aepsilons]

@Carlosa ,

The American rappers say it best , "Holla Holla Dolla Dolla...."

 

[Carlosa]

@Carlosa ,

The American rappers say it best , "Holla Holla Dolla Dolla...."

Ha ha, good one.

 

[Aepsilons]

Totally right.
To say that SOEs have low performance is an understatement for Vietnam. They are not even good for the country or for the interest of the people. They are actually very good at ripping off the customers big time as the oil company in Vietnam does and as a consequence of that, gasoline prices in Vietnam are higher than in USA. Like I said, a cancer.

Precisely ! This is the reason why Vietnam is underperforming economically, and it's potential is not being tapped. There is no reason why Vietnamese economy cannot be at par or even greater than Thailand's. Or Malaysia's.

 

[Carlosa]

Precisely ! This is the reason why Vietnam is underperforming economically, and it's potential is not being tapped. There is no reason why Vietnamese economy cannot be at par or even greater than Thailand's. Or Malaysia's.

Its very simple, what keeps Vietnam behind is the gover****ment. Anything they touch, they mess it up big time. It never fails. Vietnamese people are actually very entrepenurial and business oriented, but when you are under such conditions.........

Vietnam exports in 2014 were 150 billion usd, of that, 112 billion from foreign companies. Need to say anything else?

Without foreign companies Vietnam would still be where they were in 1990 when they opened up the economy.

 

[frequency]

Its very simple, what keeps Vietnam behind is the gover****ment. Anything they touch, they mess it up big time. It never fails. Vietnamese people are actually very entrepenurial and business oriented, but when you are under such conditions.........

Vietnam exports in 2014 were 150 billion usd, of that 112 billion from foreign companies.
Without foreign companies Vietnam would still be where they were in 1990 when they opened up the economy.

Yes, I just came back from my trip to California. There is a lot of rich Vietnamese entrepreneurs here who are millionaires and some billionaires.

 

[Shotgunner51]

@Edison Chen, @Jlaw You guys don't understand what's going on in Vietnam.
@Shotgunner51 @Nihonjin1051 @mike2000 is back @Viet are right.

Those SOEs are a cancer. They owe 69 billion usd and for what? They sucked all the bank capital at low rates and then they invested it into real state speculation that caused a real state bubble that recked the economy a few years ago.

The sooner they sell those SOEs the better. They are run by totally corrupted and incompetent cronies of the political elite and VCP.

Why the state needs to own a milk company?

The few companies that are actually good or are strategic are not for sale or only a minority share is for sale.

Well there are always different schools of thought, but I am a firm believer of market economy. Margaret Thatcher is considered a pioneer of privatization, worth reading:

A short history of privatisation in the UK: 1979-2012 | Richard Seymour | Comment is free | The Guardian
10 years after Thatcher: privatisation has become common currency | Business | The Guardian​

 

[Carlosa]

Yes, I just came back from my trip to California. There is a lot of rich Vietnamese entrepreneurs here who are millionaires and some billionaires.

Absolutely, the truth is, Vietnamese are far more business oriented than Thai people for example (In Thailand business is run by the Thai chinese). Based on that, Vietnam should be way ahead of Thailand but..............

 

[Aepsilons]

Absolutely, the truth is, Vietnamese are far more business oriented than Thai people for example (In Thailand business is run by the Thai chinese). Based on that, Vietnam should be way ahead of Thailand but..............

Mark my words, after Vietnam completely opens up and adopts market economics, their GDP will hit over $500 Billion within a decade's time.

Absolutely, the truth is, Vietnamese are far more business oriented than Thai people for example (In Thailand business is run by the Thai chinese). Based on that, Vietnam should be way ahead of Thailand but..............

Vietnamese are cousins of East Asians and they inherit the East Asian high work ethic and uniformity and drive. This is a character that makes Viets very uniquely East Asian , Confucian, to be exact.

 

[Carlosa]

Precisely ! This is the reason why Vietnam is underperforming economically, and it's potential is not being tapped. There is no reason why Vietnamese economy cannot be at par or even greater than Thailand's. Or Malaysia's.

Another example. Vietnam has the most expensive tourist visas of ASEAN and they are not very easy to get. They almost doubled the rates 1 year ago. This year tourist arrivals are way down.

What did the finance minister just proposed? Do a big increase in the visa fees to improve revenue in order to compensate for the loss of revenue caused by the drop in tourism.

No wonder why tourists arrivals are dropping. What can you expect with ministers like that?

I think a 12 year old can do better than that.

 

[Shotgunner51]

Its very simple, what keeps Vietnam behind is the gover****ment. Anything they touch, they mess it up big time. It never fails. Vietnamese people are actually very entrepenurial and business oriented, but when you are under such conditions.........

Vietnam exports in 2014 were 150 billion usd, of that, 112 billion from foreign companies. Need to say anything else?

Without foreign companies Vietnam would still be where they were in 1990 when they opened up the economy.

Don't blame the players, blame the game!

Privatization isn't just the right way, it's gonna be a game changer.

 

[Carlosa]

Vietnamese are cousins of East Asians and they inherit the East Asian high work ethic and uniformity and drive. This is a character that makes Viets very uniquely East Asian , Confucian, to be exact.

Correct, Japanese, chinese, koreans and vietnamese. Those are the ones that are naturally business oriented and work hard.