Government may lose huge capital in SOEsVietNamNet Bridge – A general audit report shows a picture of the State-owned enterprises (SOEs) with many dark pieces, caused by losses worth hundreds of million of USD. Some State-owned corporations operated based on loans from credit institutions, resulting in a high liabilities ratio on equity. Of the 38 State-owned corporations, 5 incurred losses, including the Vietnam National Shipping Lines Corporation (Vinalines), Corporation 15, Industrial Construction Corporation, Sugar Corporation II and Dak Lak Printing Company. By the end of 2015, the government had to guarantee loans of more than $26 billion for State-owned businesses. Illustrative imageThe report was made by the State Auditor of Vietnam after reviewing financial statements and the activities related to the management and use of State capital and assets in 38 State-owned corporations in 2014.

Source: VietNamNet News July 26, 2016 10:52 UTC