Breaking bad debt: Vietnam tackles NPLs

New regulations should help the country clear up its non-performing loans, but the move has serious political and economic implications.

It’s roughly 10 years since work began on the Saigon One Tower, a 42-story skyscraper in downtown Ho Chi Minh City, and still it remains far from completed. The desolate site is a shell of steel bars and concrete walls – hardly the “new landmark gracing the city with its beauty” that was promised.

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