Vietnamplus

The Government set a target of divesting capital in 141 enterprises and equitising 19 state-owned enterprises by 2025.

Deputy Prime Minister Le Minh Khai has signed a decision to deepen the restructuring of state-owned enterprises (SOEs) in 2021-25.

Among the 183 State-owned enterprises (SOEs) equitised from 2016 to June this year, only 39 are in the Prime Minister-approved list of the 128 SOEs subject to equitisation, equivalent to 30 percent.

The Vietnam National Petroleum Group (Petrolimex) plans to sell 15 million treasury stocks in transactions held between June 16 and July 15 to mobilise capital for investment in 2020, announced chairman Pham Van Thanh at Petrolimex’s recent annual general meeting of shareholders.

Prime Minister Nguyen Xuan Phuc recently issued a disciplinary warning against Vu Van Ninh, Deputy PM in the 2011 – 2016 tenure, for his serious violations and shortcomings while performing duties.

The equitisation of State-owned enterprises (SOEs) and divestment of State capital have created more products for the M&A market, heard the Vietnam M&A Forum in HCM City on August 6.

Shortcomings in terms of institutions and laws are the main cause of the sluggish restructuring of State-owned enterprises (SOEs), which may fail to fulfill many important targets by the end of 2020, according to the Central Institute for Economic Management (CIEM).

About 7.42 million shares of four companies invested with State capital will be auctioned at the Hanoi Stock Exchange (HNX) this March.

The State Capital Investment Corporation (SCIC) reported after-tax profit of 8.25 trillion VND (356 million USD) in 2018, 52 percent higher than the annual target.

The recently-established Committee for the Management of State Capital at Enterprises (CMSC) will have a heavy workload to shoulder, needing great efforts exerted to overcome this challenge, according an expert.

The restructuring and equitisation of State-owned enterprises (SOEs) should focus on quality instead of quantity, and the State’s investments need to be restructured to become more effective, an expert has said.

Only 11 State-owned enterprises (SOEs) were equitised in the first nine months of this year, making the country’s target to complete the equitisation of at least 85 SOEs this year unlikely to reach, according to an official from the Ministry of Finance (MoF).

Many State-owned public utility companies in Ho Chi Minh City are set to be equitised in 2019.

The State Capital Investment Corporation (SCIC) said it would offload capital in 121 businesses in 2018 with a view to making after-tax profit of 5.4 trillion VND (237.8 million USD), a 17 percent year-on-year decrease.

Vietnam’s stock market has something to cheer about, as the VN-Index was named among the top three fastest growing markets in the world.

The Prime Minister recently issued a decision outlining solutions for loss-making projects under the management of the Ministry of Industry and Trade. The aim is to turn them into efficient projects by 2020, at the latest, or let them be dissolved.

Deputy Prime Minister Vuong Dinh Hue has urged the Ministry of Planning and Investment (MPI) to quickly finalise the list of State-owned enterprises (SOEs) that needed to be divested.

State-owned businesses reported good results in the divestment of State capital from non-core operations in the first eight months of this year.

The State capital divestment in the country’s two largest brewers Habeco and Sabeco will be completed by the end of 2017.