Keyword: "divestment"

Divestment and mergers and acquisitions (M&As) are serving as crucial lifesavers for numerous businesses amidst an extended period of blocked capital flow.

The Government earned over 149 billion VND (5.93 million USD) from capital divestment at four State-owned enterprises during January – July, the Ministry of Finance (MoF) said on August 12.

The Ministry of Finance (MoF)’s experts have stressed the need to remove obstacles in mechanisms and policies to promote the equitisation and divestment of state capital in enterprises.

Vietnam National Petroleum Group (Petrolimex) just approved the resolution of the Board of Directors on a plan to disinvest in Petrolimex Group Commercial Joint Stock Bank (PG Bank).

In 2022, the State Capital Investment Corporation (SCIC) is expected to divest from 101 member companies.

The Hanoi Stock Exchange (HNX) organised 16 auctions for divestment in 2020 with total transaction value of 3 trillion VND (130.2 million USD).

The Ministry of Construction recently approved a plan to divest all State capital at Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO).

Deputy Prime Minister Truong Hoa Binh chaired a meeting on August 10 to review draft decrees that amend and supplement a number of Government decrees on equitising State-owned enterprises (SOEs) and divesting State capital from businesses.

Deputy Prime Minister Truong Hoa Binh on August 6 requested the utmost effort from ministries, sectors, and State-owned enterprises (SOEs) to achieve the best result possible in equitising SOEs and divesting State capital from businesses.

Prime Minister Nguyen Xuan Phuc has issued Decision 908/QD-TTg approving the list of State-owned enterprises (SOEs) to implement divestment of State capital in 2020, which comprises 120 enterprises.

The Vinacomin – Minerals Holding Corporation (Vimico) is going to auction 2,367,040 shares worth over 23.6 billion VND (about 1 million USD) it holds at the Nghe Tinh Non-ferrous Metal JSC on March 10.

The State-owned Vietnam National Shipping Lines (Vinalines) plans to divest capital from 13 member companies this year.

The Vietnam National Shipping Lines (Vinalines) is divesting entirely from the International Labour and Services Stock Company (Inlaco-HP), according to the State-run corporation.

Prime Minister Nguyen Xuan Phuc on July 17 asked the Commission for the Management of State Capital at Enterprises (CMSC) to take more flexible approach to dealing with corporate issues in line with the law.

Only three state-owned enterprises (SOEs) got the nod from authorized agencies for their equitisation plans in the first five months of this year, lifting the total number of companies to have plans approved by the end of May 2019 to 30, according to the Ministry of Finance.

The equitisation of State-owned enterprises (SOEs) is still slow, failing to reach the rate of progress as directed by the Prime Minister, Deputy Minister of Finance Vu Thi Mai said at the Government’s regular press briefing in Hanoi on May 4.

The Ministry of Industry and Trade (MoIT) will transfer State capital ownership representative rights in five enterprises to the State Capital Investment Corporation (SCIC) in the first quarter of this year.

The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market.

Prime Minister Nguyen Xuan Phuc asked accountability to be enhanced in the restructuring and divestment of State-owned enterprises (SOEs) to improve the efficiency of the process.

The Hanoi Stock Exchange (HNX) organised five auctions for divestment in November with total transaction value of more than 9.7 trillion VND (415 million USD).