Dang said state-owned corporations, which have benefited from favorable conditions, have contributed little to the nation’s economy.

Deputies suggested the National Assembly take over the task of supervising state-owned corporations.

“I propose the government issue a decree on managing state-owned corporations to clarify their investments and reduce their monopoly status,” said deputy Do Manh Hung of Thai Nguyen Province.

Hung also said ineffective operation of the corporations had contributed to inflation but not to economic growth. He said 76 corporations, with a combined capital of VND917 trillion (US$55.2 billion), had created a total profit equal to only 17 percent of their capital.

Some of them had invested unwisely in areas outside their expertise, while under investing in their core area, he said.

Deputies also took aim at Electricity of Vietnam (EVN) for refusing electricity projects by claiming insufficient funds. EVN, however, had invested in several non-electricity projects and even asked for permission to set aside more than VND1 trillion (US$59.6 million) for staff bonuses, deputies said.

Reported by Bao Van – Xuan Toan