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SOEs equitisation to fall short of annual target
The equitisation of State-owned enterprises (SOEs) will hardly meet their target this year, as only 20 SOEs had completed the process by the end of September.
Viet Nam plans to complete the equitisation of 44 SOEs this year, 64 next year, 18 in 2019 and one in 2020.
However, the Steering Board for SOEs Renovation and Development said that only 38 SOEs will be finalised in the equitisation for 2017.
The country reaped VND15.99 trillion (US$704 million) through State capital divestment from SOEs in the first nine months of this year, of which VND105 billion came from the divestment of stock, insurance, finance and banking, real estate and investment fund, the Ministry of Finance’s Corporate Finance Department reported.
Between January and September, 34 SOEs with a combined charter capital of VND25.87 trillion were approved for equitisation.
Some major State-owned groups and corporations, which are speeding up the process of equitising themselves or their affiliates, include the Vietnam Rubber Group, the Southern Food Corporation, and PetroVietnam Oil Corporation.
The Corporate Finance Department has proposed that the Government ask the Ministry of Industry and Trade to accelerate the sale of State capital in the country’s two biggest brewers, Sabeco and Habeco.
Last year, 56 SOEs were approved for equitisation, with a total value of VND34 trillion, of which the State capital stood at VND24.4 trillion.
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