Report on investment of state corps and economic groups

26-May-2009 Intellasia | Lao Dong Online | 6:47 PM Print This Post

Statistics of the finance ministry showed that among 70 state corporations and economic groups, 28 corporations contributed total 23.344 trillion dong in the setting up of securities companies, commercial banks, fund management companies, insurance and real estate firms.

These enterprises mobilised external capital amount higher 1.4 times than their ownership capital, typically, Traffic Work Construction Corp No 5 (Cienco 5) with 42 times, Vinashin 21 times.

Reported by the Steering Committee for Enterprise Renovation and Development, until December 31, 2007, 16 state economic groups and corporations had invested 4.965 trillion dong in banking sector, nine corps and groups poured 316 billion dong in the stock market, 12 others pumped 6.518 trillion dong in the finance and insurance field, 933 billion dong invested in investment funds, and 2.331 trillion dong in real estate market.

Because the state businesses are holding the national power, so the aforementioned investment resulted in narrowing the role of other enterprises and economic areas.


Category: Legal

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