Vietnam State Companies Still Dominate in Constitution

Vietnam’s leaders are set to tighten their grip on the economy, affirming the central role of the ruling Communist Party and the dominance of state companies in a revised constitution to be approved this week.

After indicating in January they could use the charter revamp to edge toward a more market-oriented system and lift growth from its slowest rate in 13 years last year, leaders have opted to retain state-owned enterprises as the economy’s anchor. State firms have contributed to Southeast Asia’s highest bad debt ratio.