Gov’t earns 8.49 bln USD from divestment, equitisation of SOEs

The Government earned 198 trillion (8.49 billion USD) from divestment and equitisation of State-owned enterprises (SOEs) in the past three years.
Gov’t earns 8.49 bln USD from divestment, equitisation of SOEs ảnh 1Workers at the Ca Mau 1 Power Plant under PVPOWER management operate equipment for power generation (Photo: VNA)

Hanoi (VNA) - The Government earned 198trillion (8.49 billion USD) from divestment and equitisation of State-ownedenterprises (SOEs) in the past three years.

The figure was triple that collected in the2011-2015 period. Of which, Vietnam collected 30 trillion VND (1.28 billionUSD) in 2016 and 140 trillion VND (6 billion USD) in 2017, with the latterincluding the record 110 trillion VND (4.71 billion USD) Sabeco divestment.

The country got 28.1 trillion VND (1.2billion USD) from divestment and equitisation of SOEs in the first half of thisyear. In the first eight months of this year, 10 out of 85 SOEs saw their equitisationplans approved, with total value of 29.5 trillion VND (1.26 billion USD).

Some big companies undergoing equitisationincluded PetroVietnam Power Corporation (PVPower), PetroVietnam Oil Corporation(PVOil) and Power Generation Corporation (Genco 3).

The Government would hold 54.1 percent ofshares at the companies after their divestment and equitisation. The remainingshares would be sold through initial public offerings (IPOs) and strategicpartners.

Thetotal money paid to the State budget from divestment and equitisation reached 115trillion VND (4.92 billion USD), meeting 46 percent of the set target in the2016-2020 period. The State-ownedcapital divestment at equitised firms has been slower than the set targets.

TheGovernment successfully divested capital from 17 out of 135 SOEs in the 2017plan. The remaining companies delayed their plans to this year. This hasincreased the volume of work to be done in 2018 to up to 181 businesses.-VNA
VNA

See more

The private sector is expected to make breakthroughs for national development. (Photo: VNA)

Party official anticipates breakthroughs in private economic sector

With the Politburo set to issue a dedicated resolution on the private economic sector, there should be a reformed approach to action plans, according to Secretary of the Party Central Committee and head of Head of its Commission for Policies and Strategies Tran Luu Quang.

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona. (Photo: VNA)

Cuban commerce official optimistic about bright future of Vietnam-Cuba cooperative ties

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona hailed Vietnam as Cuba’s second-largest trading partner in Asia and its top investor, spotlighting its foothold in the Mariel Special Development Zone via Viglacera. This zone, he noted, is set to become a pivotal hub for Vietnamese investment in the years ahead.

Imported cars seen at the northern port city of Hai Phong. (Photo: VNA)

Ministry proposes tax cuts for some imported cars

This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.

Minister of Industry and Trade Nguyen Hong Dien and Deputy Prime Minister of the Republic of Belarus Anatoly Sivak sign the meeting minutes. (Photo: VNA)

Vietnam, Belarus unveil key solutions to boost trade

Vietnam and Belarus are set to deepen bilateral cooperation in all fields, particularly in economy-trade and science-technology, through their Intergovernmental Committee mechanism, affirmed Minister of Industry and Trade Nguyen Hong Dien.