Hanoi is seeking to set up its own capital investment company to support enterprises.
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| Hanoi wants to have its own investment corporation |
Vietnam currently only has one capital investment company, the State Capital Investment Corporation (SCIC) to support the restructuring and economic reform of firms.
The SCIC manages the capital of hundreds of firms with a total portfolio market value of VND50 trillion (USD2.4 million). However, most of SCIC's revenue come from interest from banks and in 2012, deposits money reached VND19.6 trillion.
Meanwhile, hundreds of medium and small-scaled firms are unable to access the preferential loans to maintain their operations.
Hanoi authorities have submitted a proposal to establish its own capital investment company to the NA's Economic Committee. Vice chairman of the Hanoi People's Committee, Nguyen Huy Tuong, said they hoped to speed up the restructuring process by establishing a new company.
Nine enterprises in the city have drafted their restructuring plans and five plans have already been approved. However, there are still about 30 enterprises that are set to be restructured during 2013-2015 period.
They have also asked for the management of national highway sections that run through the city and capital to improve the roads.
