Vietnam's Move to Publish Earnings Hailed

As published in VOA News on 05/06/2012

Mired by mismanagement and debt, state-owned enterprises are the bane of the Vietnamese economy. But a recent move to publicize earnings is being hailed as a revolutionary step towards reform.

When Vietnamese police issued an arrest warrant for the former chairman of a state-owned shipping and port operator, many observers were not surprised.

In a country dogged with high inflation and food prices, most people blame economic woes on debt-ridden state-owned enterprises that make up 40 percent of economic output.

U.N. Development Program policy adviser Jairo Acuña-Alfaro was optimistic.

“All of the major corruption scandals that you have heard in the past two years have come from state-owned enterprises," said Acuña-Alfaro. "I think it is the most concrete and significant sign from the government that they really want to address these problems.”

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