Vietcombank is one of the seven major SoEs proposed for the plan implementation (Photo: VNA) There are seven SoEs initially proposed for theplan, including three in the hi-tech industry (Military Industry and TelecomsGroup – Viettel, Vietnam Posts and Telecommunications Group – VNPT, and VietnamMobile Telecom Services Corporation – MobiFone), two in the renewable energyindustry (Vietnam Electricity Group – EVN and Vietnam Oil and Gas Group –PetroVietnam), one in the seaport and logistics sector (Saigon NewportCorporation), and one in the finance – banking sector (Joint Stock CommercialBank for Foreign Trade of Vietnam – Vietcombank).
Apart from total assets of over 20 trillion VND(870.6 million USD), other criteria for such firms include a market share of atleast 30 percent, meeting competition regulations, a return on equity of morethan 6, and good governance based on OECD principles.
Besides, the industries entitled to specialmechanisms and policies are identified basing on their role in guiding thedevelopment of businesses, their importance in developing and orientingindustries, and the necessity of the State’s presence in those sectors.
Speaking at a meeting in Hanoi on March 10, LeManh Hung, Director of the Enterprise Development Agency under the Ministry ofPlanning and Investment, said the plan aims to develop some SoEs that arecapable of paving the way for and guiding other firms, connecting with theprivate business sector, mastering technology, and forming innovation chains.
He explained that the “paving-the-way”enterprises are the new ones that meet the country’s development demand whilethe “guiding” companies are the ones that can form connectivity and valuechains and promote innovation with the participation of firms in other economicsectors.
The general policies proposed in the draft planaccord with the country’s socio-economic development orientations andinternational commitments and also ensure fair competition, the officialnoted./.
VNA
