Communist-run Vietnam plans to privatise state-owned oil/gas (Joins WTO)

[Dover]

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2687287&mesg_id=2687287

[Dover]

1. A few more articles about recent changes in Vietnam (privatization/economic growth)

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Here are a few older articles for some background in chronological order, oldest first:

Apr 9, 1996

VIETNAM: WHY PRIVATISE? BECAUSE WB SAYS SO?

Penang Apr (TWN/Peter Limqueco) -- A World Bank study last year on Vietnam, "Viet Nam: Economic Report On Industrialisation and Industrial Policy", proposed a strategy for industrial development of the country, and for transforming its economy from socialism to capitalism, politely referred to as `market economy'.

It was a study typical in form in that it recommends the large-scale privatisation of state enterprises -- well-worn advice given over the years to East Europeans, African, Asian and Latin American nations.

The cornerstone and key to the success of the strategy designed "to eliminate poverty... by promoting Industrialisation", says the Bank, is "divestiture of non-strategy state enterprises", adding that in accordance with its definition of non-strategy this would "involve a very large number of state enterprises in many sectors". ..cont'd

http://www.sunsonline.org/trade/areas/finance/02090196.htm
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International Corporate Governance Meeting: Why Corporate Governance Matters for VietnamOECD/ World

Bank Asia Roundtable on Corporate Governance
With support from: The Government of Japan Global Corporate Governance Forum
Hanoi, Vietnam December 6th, 2004

http://209.85.165.104/search?q=cache:f3Q_3HQ1AmgJ:www.oecd.org/dataoecd/19/7/34080969.pdf+vietnam,+privatising&hl=en&gl=us&ct=clnk&cd=22
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Jan. 2005
Vietnam to clean up banks to spur investment

Vietnam will clean up its banks and take steps to attract foreign investors this year in order to hit its investment and growth targets, officials said.
The government has targeted total investment equivalent to 36.5 percent of gross domestic product (GDP) this year, up from 36 percent in 2004, to fuel GDP growth targeted at 8.5 percent, up from 7.7 percent last year.

"We will have to clean up banks to create confidence among people so that banks can get deposits," Finance Minister Nguyen Sinh Hung told Reuters on the sidelines of a financial sector conference on Wednesday.

The central bank has said it would adopt international standards to classify debts at Vietnamese banks this year, which would result in a much higher ratio of bad loans than the current 3.5 percent estimate based on Vietnamese standards.

Klaus Rohland, the World Bank's country director for Vietnam, told Reuters this week the government had to raise credit quality so the state-owned banks could confront foreign competition that would come when the country joined the World Trade Organisation.

"A lot of training and capacity building needs to be done, and the issue is getting more urgent with WTO accession by early 2006," he said.

Le Duc Thuy, governor of the State Bank of Vietnam, has said the central bank has submitted two plans on privatising Vietcombank, which is a key bank in handling trade payments and which he described as Vietnam's best bank...cont'd

http://www.itpc.hochiminhcity.gov.vn/en/business_news/business_day/2005/01/folder.2005-01-14.6060780526/news_item.2005-01-14.6401567880

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2007

BBC

In the first of a series of articles from Vietnam - one of the world's last surviving communist states - BBC correspondent William Horsley finds an economic revolution under way.

http://news.bbc.co.uk/2/hi/asia-pacific/3752682.stm
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