SOEs

Update news SOEs

SOEs drag feet on the road to equitisation

 While foreign investors are keen to buy stakes in state-owned enterprises, the rate of equitisation remains too slow, and several enterprises are selling only paltry stakes.

SOEs’ disinvestment plan fails as shares do not sell

VietNamNet Bridge - State-owned enterprises are finding it difficult to sell their stake in their finance, banking and real estate companies.

State budget cannot bear debt burden of SOEs

VietNamNet Bridge - The Ministry of Finance (MOF) has to advance $1 billion to pay debts for state-owned enterprises (SOEs) which cannot pay debts because of big losses.

SOEs urged to withdraw from real estate projects

VietNamNet Bridge - State-owned enterprises (SOEs) should disinvest from real estate projects if their products are located in central areas and have high value, the HCM City People’s Committee has said.

Companies selling small number of shares unpopular with investors

VietNamNet Bridge - Businesses with a large number of shares can be easily sold, but companies with smaller amount of shares cannot find buyers.

SOEs operation to be announced publicly

 VietNamNet Bridge – The Ministry of Planning and Investment is drafting a Decree on announcing information about State-owned enterprises (SOEs).

State-owned enterprises’ remain essentially the same, despite reform

VietNamNet Bridge - One of the aims of state-owned enterprise (SOE) reform is to streamline enterprises’ operations, but they continue to expand.

Gov't aims to reduce public debt

 VietNamNet Bridge – Finance Minister Dinh Tien Dung told Ha Noi Moi (New Ha Noi) that achieving equitisation targets for State-owned enterprises and alleviating debt would be high priorities this year.

State continues to divest itself of holdings in public companies

VietNamNet Bridge – Only 150 state-owned enterprises (SOEs) were equitized in 2014, but the figure is expected to double this year as the State withdraws its stake in non-core businesses of state companies.

Is Vietnam too hasty in equitizing State-owned enterprises?

VietNamNet Bridge – Many SOEs have been put up for equitization recently, but experts have warned that “haste will make waste”.

BUSINESS IN BRIEF 6/3

16,000 firms suspend operations in first two months of 2015; Vinafood 1 massive divestment wave; New uniforms for Vietnam Airlines meet mixed reception; Thousands of abandoned containers clog Vietnam ports

Foreign firms eye M&A deals as SOEs equitise

FDI into Vietnam via mergers and acquisitions is on an upward trend, underlining the growing appetite among foreign companies to acquire stakes in existing companies as the fastest way to strengthen their foothold in the country.

Definition of State economic groups vague

The ambiguous definition of State economic groups has led to many problems since big State-owned enterprises (SOEs) were turned into economic groups, economic experts said at a recent conference in Hanoi.

How many state-owned economic groups are there in Vietnam?

VietNamNet Bridge – The number of state-owned economic groups in Vietnam is unknown as they are vaguely defined.

BUSINESS IN BRIEF 11/2

Circle K convenience store chain opens 100th store in VN; Retailers despair as discounts fail to attract more customers; Stalled projects likely to be re-sold; Foreign remittances remain robust in 2014;

National Assembly has no information on SOE sales

VietNamNet Bridge – It is difficult to access information about how much money the State has earned from selling state-owned enterprises (SOEs) and how the money has been used.

Vinalines hopes to be free from debt following sale of ports

VietNamNet Bridge – Following the sale of Hai Phong Port, Vietnam National Shipping Lines (Vinalines) has decided to sell Nghe Tinh Port and hopes to gain enough money to pay its debts.

Vietnam on path to recovery

 VietNamNet Bridge – Nation should stop sacrificing its growth rate for stabilising the economy, Tran Hoang Ngan with the National Advisory Council on Monetary and Financial Policies, tells Viet Nam Economic Times.

SOEs told to withdraw VND14.5 trillion this year

 VietNamNet Bridge – Deputy Prime Minister Vu Van Ninh has told State-owned enterprise (SOEs) to divest a total of more than VND14.5 trillion (some US$679.5 million) from non-core business operations this year.

State - enterprise relations and industrial growth in Vietnam

 VietNamNet Bridge - Industrial development of Vietnam has been a success but it has been proceeding at a slower level in recent years.