State companies required to report out-of-business investments

State-run corporations and groups that want to invest in finance, stocks and banking must report the plans to the Prime Minister before carrying out them, a PM order says.

The order aims to ensure proper use of State capital at the corporations and groups so as to help fight against inflation.

The PM has assigned the Ministry of Finance to monitor and follow up the execution of the plans of the State-run corporations and groups.

At present in Viet Nam, eight State-run groups and 96 State corporations are operating, and they are kind of holding or parents companies with many subsidiaries or affiliates. Some of the groups and corporations have recently invested in real estate, finance, stocks and banking, which are not their business areas.

VNN

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