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Economy

For Vietnam and its state enterprises, something has to give

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The government owns a majority stake in Vinamilk, Vietnam's largest dairy company.   © Reuters

HANOI -- State-owned enterprises present a dilemma for Vietnam. There is a pressing need to reform the businesses, as the country is set to open up its market under the 12-nation Trans-Pacific Partnership trade deal. At the same time, the government is reluctant to lose its cash cows.

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