In Vietnam, due to the global economic crisis of 2008-2009, non-performing loans in the Vietnamese banking sector reached a serious level in the early 2010s, partly due to the poor performance of state-owned enterprises. The government has therefore identified the improvement of the legal framework and corporate finance mechanism for state-owned enterprises reform as a key short-term task, and has formulated a state-owned enterprises reform plan through 2015, focusing on economic groups and general public corporations as key policies for state-owned enterprises reform.
This cooperation strengthened the capacity of the Ministry of Finance of Vietnam in corporate finance management and contributed to the promotion of state-owned enterprise reform by enhancing its capacity in debt servicing and corporate governance, and by making recommendations on policies and legislation for state-owned enterprise reform.
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