Hanoi to write off bad debts<\/p>\n
HANOI (DPA): Vietnam has instructed its treasury to write off
\nor extend the debts of ailing state-owned enterprises (SOEs)
\ntargeted for privatization, officials said Friday.<\/p>\n
Minister of Planning and Investment Tran Xuan Gia said
\n"irretrievable" SOE debts to the state would be written off as a
\nmeans of speeding up the struggling privatization process ahead
\nof the expected year-end opening of the country's first stock
\nmarket.<\/p>\n
The instruction is part of a sweeping seven-part package aimed
\nat stimulating an economy which has rapidly lost steam after
\nheady gains in the early and mid-1990s.<\/p>\n
"The government recognizes the need to devise contingencies in
\ncase of harder times ahead," Gia was quoted as saying in the
\nVietnam News.<\/p>\n
Other plans in the package include facilitating loans to rural
\npeasants, accelerating the distribution of official development
\nassistance and the implementation of part-time employment schemes
\nto avoid huge layoffs.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hanoi-to-write-off-bad-debts-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}