Ineffective SOEs set for bankruptcy

The National Assembly (NA) on Tuesday has adopted a resolution that sets three reform targets for the 2016-2020: public investment, state-owned enterprises (SOEs), and financial institutions. Vietnam will also divest from all state-owned enterprises which the state doesn't need to hold more than 50% stake in from 2016 to 2020. By 2020, Vietnam is set to have at least one million enterprises and 15,000 co-operatives.