Vietnam sets up $220 billion committee to boost privatisation

[Viet]

HANOI, Feb 5 (Reuters) - Vietnam said on Monday it has set up a committee to oversee around 5,000 trillion dong ($220 billion) worth of government assets in companies as part of an effort to boost privatisation.

The Committee for State Capital Management at Enterprises would be more comprehensive than the State Capital Investment Corporation (SCIC), Vietnam’s main state investment arm that holds shares in firms like Vinamilk, the country’s biggest listed firm.

Many state shares, especially in state-owned enterprises, are under the management of different ministries, partly causing complications and delays in selling stakes.

Sabeco and Habeco, Vietnam’s biggest beer firms, are under the Ministry of Industry and Trade, while telecoms firm MobiFone, which is also earmarked for privatisation, is under the information ministry.

Detailed guidelines on the committee’s function and mission are expected to be released in the second quarter of this year, vice investment minister Nguyen The Phuong told reporters on Friday. (Reporting by Mai Nguyen; Editing by Nick Macfie)

https://www.reuters.com/article/vie...ommittee-to-boost-privatisation-idUSL4N1PV40R

 

[Viet]

I am pretty sure with better management those assets could reach trillion dollars in 10 years. VN bourse index reaches a new record thanks to success in privatization.

 

[Yingluck]

I am pretty sure it will be a share of spoils between party big wigs. You guys will be ruled by Oligarchs.

 

[Mohrenn]

Vietnam isn't following the right path.

 

[Viet]

Vietnam isn't following the right path.

Why? You don’t need to be afraid of our rise to an economic and military power. Vietnam’s rise is peaceful. 100 percent.

 

[empirefighter]

If you are one of the ruling class, privatization is good. If not, this is bad. Dont your country learn lessons from USSR？It will become a banquet of stealing national assets. My country did this about ten years ago with small scale, resulting in bad conquence.
But whatever, this is none of our business.

Why? You don’t need to be afraid of our rise to an economic and military power. Vietnam’s rise is peaceful. 100 percent.

I previously thought your country had learned much experience from us and became more powerful, but I was wrong and I had overextimated VN.
Pity for VN people but good for my country.

 

[ChineseTiger1986]

If you are one of the ruling class, privatization is good. If not, this is bad. Dont your country learn lessons from USSR？It will become a banquet of stealing national assets. My country did this about ten years ago with small scale, resulting in bad conquence.
But whatever, this is none of our business.


I previously thought your country had learned much experience from us and became more powerful, but I was wrong and I had overextimated VN.
Pity for VN people but good for my country.

Let Vietnam become another failed experiment, just let them be.

 

[Jlaw]

Let Vietnam become another failed experiment, just let them be.

Agreed. Privatization is bad. We see it here in Canada. Things become more expensive, worker jobs not secured.
Look like the Rothschild is beginning to penetrate vn.

 

[Viet]

Let Vietnam become another failed experiment, just let them be.

tiger, we need money for HSR, super highway and other infrastructures. Where to get the money? asking Xi Jinping and Peng Liyuan?

I think if you are worried then we are on the right path

 

[empirefighter]

tiger, we need money for HSR, super highway and other infrastructures. Where to get the money? asking Xi Jinping and Peng Liyuan?

I think if you are worried then we are on the right path

Lol,we are worried?lol,lol, Whatever,time will prove. In my opion, no need too long, 3-5years will prove.

 

[nang2]

Agreed. Privatization is bad. We see it here in Canada. Things become more expensive, worker jobs not secured.
Look like the Rothschild is beginning to penetrate vn.

that may be just an illusion. government-owned enterprise often costs tax payers' money, of which you may have different sense.

 

[seesonic]

Why? You don’t need to be afraid of our rise to an economic and military power. Vietnam’s rise is peaceful. 100 percent.

Definitely peaceful.

No space program, no nuclear arsenal, relatively aged hardware in her arsenal

that may be just an illusion. government-owned enterprise often costs tax payers' money, of which you may have different sense.

Depends. Many state owned enterprise have a monopoly on the industry its in or its a absolute juggernaut in it.

If your state owned enterprise is not profiting something is wrong with the way you manage.

 

[Jlaw]

that may be just an illusion. government-owned enterprise often costs tax payers' money, of which you may have different sense.

You don't live in Canada.

 

[empirefighter]

From the USSR lesson and our past experience, the conclusion is clear: Any one boast or support to private the state owned companies, either stupibitlity or bad intention.
Companies have to compete in market by themselves, but you canot simply say the Companies fail just due to the nationlism, and you canot simply expect you can win the market after you private the companies. It is so naive thinking.
Thanks to USA, they keep teaching the developing countries to accept the ideology of "free voting", "privatization". And they never tell them the true path to become a power.
In the past, I thought VN might not get cheated by these beautiful words because of its communist system, It is happy to prove I am wrong.
The Russia had benefit from the legacy of USSR for more than two decades, VN has no legacy, time will give them a deep lesson but you cannot turn around again.

 

[Viva_Viet]

From the USSR lesson and our past experience, the conclusion is clear: Any one boast or support to private the state owned companies, either stupibitlity or bad intention.
Companies have to compete in market by themselves, but you canot simply say the Companies fail just due to the nationlism, and you canot simply expect you can win the market after you private the companies. It is so naive thinking.
Thanks to USA, they keep teaching the developing countries to accept the ideology of "free voting", "privatization". And they never tell them the true path to become a power.
In the past, I thought VN might not get cheated by these beautiful words because of its communist system, It is happy to prove I am wrong.
The Russia had benefit from the legacy of USSR for more than two decades, VN has no legacy, time will give them a deep lesson but you cannot turn around again.

U can not compare VN privatisation with country having useless location like CN or failed state USSR where ppl only good at selling oil.

first: thanks to our special location (center of ASEAN, land border wt CN plus the biggest and the most important part of SCS (east VN sea is under Vn control )) VN is too important to SK-JP in protecting their oil tanksers if they still want their oil tankers can pass SCS (east VN sea) safely instead of facing with dangerous threat from CN. SO, SK-JP have no choice but to keep supporting VN to boost our economy.

second : If private inc keep doing bad thing to our people, our economy, then we will burn their factories and kick them back home like we did many times before (many CNese here knew that), so they'd better play nice in VN or they will hurt themselves instead.

As ppl can see, after burning some TWese, Cnese, Sk factories, those foreigners treating our workers better and helping VN economy keep thriving now