06/08/2010
In Vietnam, the idea of upgrading some 91 corporations towards business groups has been shaped since the Chairman of the Council of Ministers (is now the Prime Minister) promulgated the Decision No. 91/TTg dated 7th March 1994. Under this Decision, corporations with at least 7 members and one thousand billion Vietnamese Dong and over of capital can be developed towards groups. According to this Decision, 18 corporations were established and upgraded towards groups in order to dominate most economic industries. In fact, however, these are considered as larger-scale corporations called 91 corporations for short and holding important industries and positions.
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