| Submit your comments on this article | |
| Southeast Asia | |
| Vietnam cuts army business links | |
| 2007-01-30 | |
Vietnam's leaders have decided to remove dozens of companies from the control of the armed forces and the ruling Communist Party. The companies will instead be transferred to civilian ownership.
Many state and party organisations have made large amounts of money by going into business. Vietnam's armed forces own a mobile phone company, a bank, shipbuilders, textile factories and even hotels - in total more than 100 firms. Most of these began by making weapons or uniforms but increasingly they have taken on a life of their own. Some senior officers have found a comfortable second career as company directors. But now the ruling Communist Party has decided the military should concentrate on defending the country and only keep hold of companies with genuine security functions. The party and party-controlled organisations will also lose control of their businesses. It is a major step and will involve taking on a number of vested interests. But it is a sign the party is serious about separating the running of the country from day-to-day business decisions. It is part of a policy to bring all state-owned enterprises under the control of a single holding company - with a view to selling off stakes to private investors. Some senior officials want to emulate the model of Singapore's state holding corporation, Temasek, which allows the government to control the overall direction of companies but also get access to foreign investment and skills. No details have yet been released about how the process will work in Vietnam, or how long it will take. There is bound to be plenty of debate before it is fully implemented. | |
| Posted by:tipper |
| #9 Yeah, Ton Son Nhut is being developed now, but the Vietnamese have been offering it since the early 1980s. They have also offered another base that is much closer to Hanoi which the Soviets had built and used. Plus there has been talk of moving a couple of outlying villages on the edge of Saigon, so that the US can build a major air base. The main thrust for the Vietnamese, though, seems to be Cam Rahn Bay : they want the US carriers to have a permanent docking zone there. That makes a great counterbalance to the Chinese bases in Burma and Pakistan, plus threatens Chinese hegemony over the Spratly Islands which seem to have a lot of oil underneath them. |
| Posted by: Shieldwolf 2007-01-30 21:27 |
| #8 Ton Son Nhut, Shieldwolf? I dunno, but an old girlfriend used to live right near the airport there and I can say from fairly recent experience that it's Saigon's commercial airport, plus urban growth has surrounded it, for the most part. Doesn't seem like a candidate for a Clark Airbase II to me. |
| Posted by: Verlaine 2007-01-30 21:06 |
| #7 Actually, the Vietnamese keep floating the idea of the US leasing Cam Rahn Bay back, with almost no restrictions on the usage of the base : US effective sovereignty inside the fence, no questions or inquiries about ships carrying nukes, etc. They are also offering Ton Son Nhut to us with similar parameters. The biggest fact of Vietnamese history for the past 500 years has been the cyclic invasion and occupation of Vietnam by the Chinese. And with the Chinese press making noises about how much of North Vietnam was Chinese a couple hundred years ago, and the Chinese border war of 1979, the Vietnamese are looking for a counterbalance. I know some Vietnamese Americans who have family still over in Vietnam, and the local government officials are consistently trying to talk them into starting businesses there, when they are over there visiting family members. They want good relations with the US, and protection from the Chinese dragon. |
| Posted by: Shieldwolf 2007-01-30 19:46 |
| #6 The USA won't have too many qualms iff VIETNAM = CHINA made moves toward Euro- or Japan-style Western DemoSocialism - the altern for Commie Vietnam is WAR(s) FOR EXPANSION, vs. IMPLOSION ala the USSR. As CHENEY inferred, iff they want long-lasting wealth + modernity + global power, they gotta de-regulate and liberalize their market sectors. OTHERWISE, THE ONLY REASON TO STAY COMMIE IS WAITING FOR SOMETHING BAD TO HAPPEN TO THEIR ENEMIES OR COMPETITORS. |
| Posted by: JosephMendiola 2007-01-30 19:44 |
| #5 Ima figure Flyin Tigers there now baby. |
| Posted by: Shipman 2007-01-30 16:33 |
| #4 How long will it be until the ... other Air America returns to Vietnam? |
| Posted by: Besoeker 2007-01-30 12:41 |
| #3 Wow i gues they have come full circle and are ready to embrace capitalism. Can China be far behind? |
| Posted by: Cyber Sarge 2007-01-30 10:40 |
| #2 The government-private corporation is actually an old Fascist-economic model. Initially it shows some success, but because it is not free to follow market forces, it is shackled compared to private corporations. The US tried that in the early Roosevelt (the bad one) era, and found it only was sustainable in fully subsidized arenas like broadcasting, that didn't have to compete with anyone. |
| Posted by: Anonymoose 2007-01-30 08:45 |
| #1 Sorry, meant to post to non-WOT |
| Posted by: tipper 2007-01-30 08:24 |