The changing face of financial market management in Vietnam
This chapter outlines Vietnam's financial environment and the key issues and developments in the area. It describes the key issues and developments in the area of financial management. The SOCBs are all owned by the State Bank of Vietnam (SBV), which is heavily involved in their day-to-day management and controls the appointment of board members and senior management. The management of the Ho Chi Minh City stock exchange is aware of the problems ahead and has passed an agenda to further improve trading conditions. In addition, SOCBs are dominated and controlled by state management agencies and are facing difficulties, such as poor property quality, financial reporting and profitable possibility, and high management costs and rates of bad debts. Importantly, management of the SOCBs will pass at some point from the SBV to the State Capital Investment Corporation, which will remove the SBV from the daily control of banks.