Vietnamplus

Kim Kwang-soo, chairman of the Republic of Korea-based Nonghyup Financial Group (NHFG), has proposed to support Agribank in its equitisation.

The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem.

The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market.

Deputy Prime Minister Vuong Dinh Hue has stated that no group interests have been found in the equitisation and divestment of State-owned enterprises (SOEs) following inspections.

Deputy Minister of Agriculture and Rural Development Ha Cong Tuan has instructed accelerating the equitisation of State-owned enterprises (SOEs) in which the ministry is the representative of the State ownership.

Vietnam has leapt to become Southeast Asia’s top grossing market for initial public offerings (IPO) in 2018 with total proceeds of 2.6 billion USD.

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.

Vietnam has equitised 147 state-owned enterprises (SOEs) since 2016, collecting 206.7 trillion VND (~8.8 billion USD) from equitisation and divestment.

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.

Prime Minister Nguyen Xuan Phuc has asked for the clarification of responsibilities of organisations and individuals in delaying the equitisation of state-owned enterprises (SOEs).

As many as 667 equitized State-owned enterprises (SOEs), including many big names, have yet to list their shares on the stock exchanges so far, said Minister of Finance Dinh Tien Dung on November 21.

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).

As the stock market is experiencing strong volatility and shows little signs of strong recovery, the State may struggle to sell its stake in State-owned enterprises (SOEs) on schedule.

Prime Minister Nguyen Xuan Phuc has called on Danish businesses to be more active in contributing ideas to policy-making in Vietnam, while promoting their role in fostering the partnership between Vietnam and Denmark.

The State Audit of Vietnam (SAV) will audit 25 State-owned enterprises and financial organisations in 2019. They include the State Bank of Vietnam, 21 economic groups and corporations and three banks and credit institutions.

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

Many State-owned enterprises (SOEs) are finding it difficult to seek strategic investors following equitisation and have decided to retain the shares or sell them to the public.

As much as 7.45 trillion VND (320.5 million USD) were collected for the State budget from the initial public offerings (IPOs) of three member companies of the Vietnam Oil and Gas Group (PetroVietnam) in the first six months of 2018.

State-owned businesses must undergo a review of their assets before they can be equitised over the next two years.

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