Experts warn that if state-owned enterprises (SOEs) make outward investments, the state would lose capital. Reports all show state-owned economic groups and general corporations have bad business performance and many of them have fallen into deadlock. VietinBank opens its branch in Laos The low capability of SOEs is blamed on the lack of a mechanism that promotes competition. In order to encourage competition, an economist, at a recent workshop on SOE reform, suggested a policy which forces SOEs to make outward investments. When doing this, SOEs will have to compete with rivals in the international market. If enterprises can export their products to choosy markets, this means that they have high competitive capability. When doing this, SOEs will have to compete with rivals in the international market. If enterprises can export their products to choosy markets, this means that they have high competitive capability. The economist cited China as an example. The country has succeeded in forcing big corporations to accelerate investments outwards, while Vietnam still has not done this. Others are cautious about the idea. Bui Ngoc Son from the Institute for the World Economic and Politic Studies warned that SOEs’ investments overseas will only lead to the loss… Read full this story
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