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 VIETNAM - Government Calls for Restructuring Plans before Dec 15, 2011

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lexie
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PostSubject: VIETNAM - Government Calls for Restructuring Plans before Dec 15, 2011   Wed Dec 07, 2011 12:05 pm

December 7, 2011

Government Calls for Restructuring Plans before Dec 15, 2011

The government requested Ministry of Planning and Investment (MOPI), Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) to finalize and submit plans to restructure investments, state-owned enterprises and credit institutions during 2011-2015 to the Prime Minister by Dec 15, 2011.

Based on the comments of the Prime Minister, MOF and SBV will adjust and submit Plan to restructure state-owned enterprises and Plan to re-organize credit institutions to the Politburo of the Central Committee Communist Party of Vietnam before Dec 20, 2011.


The government also assigned MOPI to cooperate with MOF and SBV to combine the above plans into the General plan to restructure the local economy.


Earlier, Governor of the central bank, Nguyen Van Binh, said that restructuring the banking system would be implemented according to a roadmap, and emphasized that by 2013, Vietnam would have no weak banks and liquidity of the whole system would be ensured.


Restructuring the banking system aims at improving banks’ operational efficiency, soundness, scales and quality. By 2015, the country seeks to have 15 banks with strong financial capacity, of which 1-2 banks will operate on regional scale.




http://www.vietfinancenews.com/2011/12/government-calls-for-restructuring.html


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