Gov’t earns 8.49 bln USD from divestment, equitisation of SOEs hinh anh 1Workers at the Ca Mau 1 Power Plant under PVPOWER management operate equipment for power generation (Photo: VNA)

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

The figure was triple that collected in the 2011-2015 period. Of which, Vietnam collected 30 trillion VND (1.28 billion USD) in 2016 and 140 trillion VND (6 billion USD) in 2017, with the latter including the record 110 trillion VND (4.71 billion USD) Sabeco divestment.

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

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

The Government would hold 54.1 percent of shares at the companies after their divestment and equitisation. The remaining shares would be sold through initial public offerings (IPOs) and strategic partners.

The total money paid to the State budget from divestment and equitisation reached 115 trillion VND (4.92 billion USD), meeting 46 percent of the set target in the 2016-2020 period. The State-owned capital divestment at equitised firms has been slower than the set targets.

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