Business

MoIT proposes transfer of 11 SOEs to CMSC, SCIC

The Ministry of Industry and Trade (MoIT) has proposed transferring 11 State-owned enterprises (SOEs) in which it represented the State ownership to the Commission for the Management of State Capital at Enterprises (CMSC) and the State Capital Investment Corporation (SCIC) at the same time and in their status quo in 2022-2025.
MoIT proposes transfer of 11 SOEs to CMSC, SCIC ảnh 1

Production at Habeco. (Photo: VNA)

Hanoi (VNA) - The Ministry of Industry and Trade (MoIT)has proposed transferring 11 State-owned enterprises (SOEs) in which it representedthe State ownership to the Commission for the Management of State Capital atEnterprises (CMSC) and the State Capital Investment Corporation (SCIC) at thesame time and in their status quo in 2022-2025.

The proposal was raised in the ministry’s recent report to theGovernment about the supervision on the conversion of State-wholly-ownedenterprises into joint stock companies.

The ministry wanted to handover all 11 SOEs at the same time andin their status quo to avoid the situation that only efficient SOEs werereceived while inefficient ones were rejected, the ministry said.

The 11 SOEs include Vietnam Motors and Agricultural MachineryCorporation (VEAM); Hanoi Beer Alcohol And Beverage Joint Stock Corporation(Habeco); Vietnam Paper Corporation (Vinapaco), Machines and IndustrialEquipment Corporation (MIE); Vietnam Industrial Construction Corporation(Vinaincon); General Construction and Export – Import Joint Stock Company; VietnamAgricultural Products Joint Stock Company; Investment, Construction andBuilding Materials Joint Stock Company, BMC Commercial Construction andBuilding Materials One Member Limited Liability Company; Vietnam TextileResearch Institute Joint Stock Company; and Industrial Machinery andInstruments Holding.

The ministry’s report showed that among the 11 above SOEs, manyhad huge revenues and profits, reaching up to trillions of VND per year.

Specifically, VEAM which had a charter capital of 13.288 trillionVND (563 million USD) and a State stake of 88.47% reported a profit of morethan 6.1 trillion VND in the second quarter of this year, up 33.3% against thesame period and an after-tax profit of 6.071 trillion VND, up 33.2%. VEAM wasconsidered a “golden goose” which reported an after-tax profit of more than 56trillion VND in 2022, 25% higher than the plan.

Habeco reported an after-tax profit of 184.6 billion VND in thefirst half of this year.

However, some companies were not very efficient, the ministrysaid.

For example, Vinapaco earned a revenue of more than 2.7 trillion VNDbut the after-tax profit was modest, just 10.33 billion VND in 2022.

Vinaincon reported a revenue of 254.9 billion VND, only 64% of theplan in 2022, while the profit was just 14.7 billion VND and the liabilities upto 181.2 billion VND.

MIE earned a very modest profit of just 105 million VND in 2022.

Currently 19 corporations were under the management of CMSC,including SCIC, Vietnam Oil and Gas Group, Vietnam Electricity, VietnamNational Petroleum Group./.
VNA
#VietnamPlus #Vietnam News Agency #CMSC #SCIC #State-owned enterprises
Follow VietnamPlus

Related News

See more

Vietnamese lychees make sweet impression on UK consumers (Photo: VNA)

Vietnamese lychees win over UK consumers

The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.

VinFast manufacturing facility in Haiphong city (Photo: Vingroup)

Vingroup among top 40 largest enterprises in Southeast Asia

This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.

Fresh Vietnamese lychees are being sold at an Aeon supermarket in Japan. (Photo: VNA)

Vietnam Goods Week opens in Japan’s Saitama prefecture

This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.

The Green Industries Summit 2025 aims to support the country’s transition toward sustainable industrial development. (Source: NordCham Vietnam)

Nordic firms eye green industry partnerships in Vietnam

According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong speaks at the 15th National Assembly’s 9th session. (Photo: VNA)

SBV Governor calls for overhaul of FDI attraction strategy to drive stronger growth

The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.

Buyers seek suppliers of globally standardised equipment at Automechanika, opened in HCM City on June 19. (Photo: VNA)

Vietnam’s auto parts and services expos open in HCM City

The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.

Fuel prices surge from 3pm on June 19 (Photo: VNA)

Fuel prices surge from 3pm on June 19

The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.

Vietnamese Ambassador to Germany Vu Quang Minh (right) thanks Selgros Lichtenberg CEO Marco Berger for creating conditions for Vietnamese agricultural products to reach German customers (Photo: VNA)

Vietnamese Goods Day promotes Bac Giang lychees in Germany

While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.

An article published by Cuba’s Inter Press Service (IPS) spotlights the promising results of a unique rice cooperation model with Vietnam, as Cuba ramps up efforts to improve national food security. (Photo: Screenshot)

Vietnam–Cuba rice partnership sets new model for sustainable food security: media

The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.

Algerian delegates explore Vietnamese products showcased at the event (Photo: VNA)

Vietnam seeks to expand trade ties with Algeria

During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.

A H&M store (Photo: Reuters)

Vietnamese firms eye new opportunities with Nordic partners

A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.