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[19PacRimLPolyJ0331] Bank Privatization in Vietnam: Examining Changes to Management in Vietnam's New Banking Law, Decree No. 59/2009/ND-CP

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dc.contributor.author Radics, George B
dc.contributor.author Pacific Rim Law & Policy Journal
dc.date.accessioned 2010-12-15T19:03:28Z
dc.date.available 2010-12-15T19:03:28Z
dc.date.issued 2010-04
dc.identifier.citation 20 Pac. Rim L. & Pol'y J. 331 en_US
dc.identifier.issn 1066-8632
dc.identifier.uri http://hdl.handle.net/1773.1/507
dc.description.abstract Abstract: Due to its WTO obligations, by 2010 Vietnam must open its banking system to the world. As a result, the nation attempted to drastically modernize its state owned banks through partial privatization. This partial privatization, locally translated as equitization, proposed serious challenges to the existing legal infrastructure facilitating banks. To cope with these new challenges, in September 2009, Vietnam's new banking law, Decree 59/2009/ND-CP, was passed. An important change in the new banking law is its stricter regulation on the qualifications of managers. It is suspected that such regulation signals the nation's resistance to surrender control over its banks and commit to reforms. The new banking law also further relies on the problematic Penal Code and the Criminal Procedure Code. Faulty Penal and Criminal Procedure Codes can lead to fraudulent lawsuits and managers losing their positions. In spite of its problems, the new banking law is workable and a step in the right direction. By relying on existing management laws, as opposed to those introduced by the new banking law, and upgrading the Penal and Criminal Procedure Codes, many of the potential problems created by the new banking law can be resolved. en_US
dc.language.iso en_US en_US
dc.publisher Seattle: Pacific Rim Law & Policy Journal, University of Washington School of Law en_US
dc.subject Comment en_US
dc.title [19PacRimLPolyJ0331] Bank Privatization in Vietnam: Examining Changes to Management in Vietnam's New Banking Law, Decree No. 59/2009/ND-CP en_US
dc.type Article en_US
dc.rights.holder Copyright 2010 by Pacific Rim Law & Policy Association en_US


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