Illustrative image (Source: vinafood2.com.vn)

Hanoi (VNA) – The Government will own 51 percent of stake in the Vietnam Southern Food Corporation (Vinafood II) after its equitisation.

The direction was made by Deputy Prime Minister Vuong Dinh Hue regarding the equitisation of the corporation in line with the Government’s Decision 58/2016/QD-TTg issued on December 28 last year.

The Ministry of Agriculture is tasked with overseeing Vinafood II’s business valuation and other financial processes.

The ministry is responsible for instructing the corporation to make its equitisation plan to be submitted for the Prime Minister’s approval.

Established in 2010, Vinafood II is considered the biggest rice exporter in Vietnam.-VNA