Vietnam's economy remains one of the most information-starved in the world. Greater transparency and access to reliable information would also limit the scope for corruption, the report said. Vietnam has said it would partially privatise, merge or liquidate most of its 6,000 state-owned firms with the exception of some core industries. As of February only 17 firms had broken from total state control. The report also urged Vietnam to move towards a more competitive currency by devaluing the non-convertible dong, saying this would promote exports and encourage more rational financial planning of new foreign borrowings.
Economists say the dong is overvalued following a wave of devaluations that swept Asia last year.
Hanoi allowed a 5.3 percent downward adjustment of the fixed exchange rate in February. But the currency has stayed at the bottom of a 10 percent trading band, or around 13,000 dong to the dollar, ever since.