The Ministry of Industry and Trade, which reviewed the performance of PetroVietnam (PVN), Vietnam National Coal – Mineral Industries Group (Vinacomin), Electricity of Vietnam (EVN), and Vietnam National Textile and Garment Group (Vinatex) in the three years since their restructure, said they have entered businesses they are not familiar with.
Their foray into finance, banking, insurance, real estate, telecommunications, and other fields has affected their performance in their primary fields, it said.
PVN has invested nearly VND4 trillion (US$242 million) in various fields, including VND2 trillion (US$121 million) in just finance, Vinacomin more than VND1 trillion (US$60 million) in banking and stocks, EVN more than VND2 trillion in finance, stocks, and real estate, and Vinatex VND154 billion (US$9 million) in stocks, property, and banking.