Vietnam’s government is weak, big firms suffer and bad year for economic tycoons

Mr. Pham Minh Chinh is a weak Prime Minister

Two months ago, the Communist Party of Vietnam enthusiastically celebrated its 93th anniversary. With each passing year, the end of the Party is also shortened by one year. Spring is eternal, it repeats forever, but the lifespan of the Party is limited. There can be no long years for the Party, the Party will die, because the Party is going against the development momentum of human civilization.

The Party’s capacity is limited, the Party’s superiority is violence. As for national governance, the Communist Party is incapable, the Party cannot govern the nation. Because governance is about bringing prosperity and fair consensus between the Party and the people. To rule is to do nothing but command and forbid. What cannot be controlled is forbidden. They make all kinds of bans, and even, they defy the laws of their own writing, they also ban them. The right to protest is enshrined in the Constitution, but they still prohibit it.

The governance capacity of the Party is poor, so there is a situation where the subordinary officials do not obey by their superior officials’ orders and become inactive. The General Secretary’s burning work is a form of punishment, not a form of governance. Just like that, the more the furnace burns, the more negativity flares up, until the time comes, the Party leader doesn’t know how to handle it thoroughly.

If the Party apparatus is weak, so is the Government apparatus. However, the Party apparatus pointed out the policy, so there was less weakness, while the Government ran the whole economy, so the weakness was clearly exposed and everyone could see it.

Last year, when FLCs, Tan Hoang Minh, Van Thinh Phat, etc. were investigated, this year other big firms will also fall. Novaland should have collapsed last year, but because Mr. Bui Thanh Nhon managed to survive, so far, it is still alive. The management to survive Novaland is very dangerous, this business is running to borrow money to repay the debt, but the business situation is not better than last year. This type of management is very difficult for this business to survive for long. Novaland is predicted by many people to fall this year.

Once the whole economy falls into crisis, the serious diseases of the economy are not treated, because the Government is powerless, how will those difficulties fall on the heads of the giants after It destroyed the entire society.

The most followed business is VinGroup, in which, worth mentioning is VinFast, a business with the most terrible money burning rate today, among Vietnamese businesses. The burning rate of this business is up to $156 million per month. It is worth mentioning that VinFast is stuck in mobilizing foreign capital, so Mr. Pham Nhat Vuong had to take out his own money and take money from Vinhomes to break it for VinFast to burn.

In general, VinGroup is now like a “hibernating bear“, it digests its own body fat to feed it. With the bear, at the end of the winter it will make up for it, but with VinGroup, when will the “winter” end? The real estate iceberg no one knows when it will melt. If the ice does not melt, VinGroup still digests what it has, and when it has nothing left, it will collapse.

The real estate giants in Vietnam have taken advantage of this institution to make profit, especially they take cheap land from the poor to build projects. They caused the wrongful convictions of Thu Thiem, Van Giang, Con Dau, Loc Hung vegetable garden, Duong Noi, etc., and the day came when they had to pay their sins.

Weak government, businesses rely on policy corruption. When the economy is broken, the Government also has to kill some people who rely on the regime to blame, that is also the way for the Government to save itself. (Translated)