SOEs

Update news SOEs

200 SOEs set for IPOs in Q3 next year

 The Ministry of Finance plans by the end of this year to complete a list of 200 State-owned enterprises (SOE) for equitization and their initial public offerings (IPO) will be launched in the third quarter of next year.

Private investors show interest in state-owned enterprises

 VietNamNet Bridge – State-owned enterprises (SOEs) under equitization are turning out to be very attractive in the eyes of private investors.

VN lacks sufficient number of medium-sized enterprises

 VietNamNet Bridge - The latest report of the Vietnam Chamber of Commerce and Industry (VCCI) shows that Vietnam now lacks many medium-sized enterprises, making it difficult to participate in global value chains.

BUSINESS IN BRIEF 4/12

 Shareholders approve 80% sale of KDC snack division; VND30trillion credit package remains inaccessible for many; Minister confident of 5.8% GDP growth for 2014; Vietnam spends nearly US$3 million on animal imports

State-owned firms divest from non-core businesses

VietNamNet Bridge – State-owned enterprises have divested nearly VND2.3 trillion from non-core businesses in the first nine months of 2014, the Ministry of Finance has revealed.

VN to sell many SOEs by year-end

 VietNamNet Bridge – A number of equitized state-owned enterprises’ (SOEs) initial public offerings (IPOs) will take place in the last months of the year.

NA questions Minister of Labour, Invalids and Social Affairs

VietNamNet Bridge – On November 19, Minister of Labour, Invalids and Social Affairs Pham Thi Hai Chuyen was the fourth cabinet member to be queried at the 8th National Assembly session about unemployment, job creation for workers,

SOE debts too big to settle

 VietNamNet Bridge – Debts owed by State-owned enterprises (SOEs) to both domestic and foreign creditors are too big for the Government to shoulder, especially at a time when public debts are posing a big headache.

Banking sector in quagmire as SOEs can’t sell their shares in banks

 VietNamNet Bridge – Investors have been reluctant to buy shares of banks, and as a result, state-owned enterprises (SOEs) cannot withdraw the capital they had previously invested.

Big companies ready to invest in SOEs with substantial land holdings

VietNamNet Bridge – Though many state-owned enterprises (SOEs) are unprofitable, investors still see them as attractive, thanks to their advantages in business fields and large land funds.

Gov’t changes mind about settling bad debts with state money

VietNamNet Bridge – In a last-minute move, the government has decided not to settle bad debts with money from the state budget, which had been suggested by the Ministry of Planning and Investment.

Managers’ salaries at state-owned companies vary greatly

VietNamNet Bridge – The monthly salaries of managers at state-owned enterprises (SOEs) are much higher than other state civil servants. However, the salaries are small compared to the huge amount of assets and power they wield.

BUSINESS IN BRIEF 5/10

 Metro Line 2 cost seen shooting up to US$2.1 billion; HCM City to pilot half-year advertising on buses; SOE reforms go slow, says expert; SBV governor puts bad debt at VND500 trillion; Liberty denies selling five-star Pullman hotel

Economic restructuring a success, especially in credit

 VietNamNet Bridge – Vice Chairman of the National Assembly Committee for Economic Affairs Nguyen Duc Kien told Nhan dan newspaper about the Autumn Economic Forum, which opens this weekend in Ninh Binh.

Opportunities of second M&A wave

VietNamNet Bridge – The second wave of mergers and acquisitions, forecast for the 2014-2018 period, is expected to be on a larger scale compared to the previous one with total value of successful transactions possibly reaching 20 billion USD.

Purchases of goods between SOEs a drag on market economy

State-owned enterprises for the past two years have helped each other by buying each other’s goods worth VND71 trillion, but financial experts believe this is not the solution to their problems.

Fresh policies take effect since September

 VietNamNet Bridge – A series of new policies on SOEs, recruitment of Vietnamese workers in foreign organizations, foreign exchange, and gambling business for foreigners come into effect since September, 2014.

MoF leader explains equitisation-boosting measures

 VietNamNet Bridge – The Vietnamese government is taking various measures to boost sluggish equitisation and achieve the target of 432 equitised enterprises by the end of 2015.

SCIC halfway home on state capital divestment

 VietNamNet Bridge – The State Capital Investment Corporation has announced it is considering completing divestitures at 290 state-owned enterprises valued at VND1.3 trillion ($62.8 million) this year.

IPOs of SOEs may have little to offer for foreign investment funds

 VietNamNet Bridge – Foreign investment funds have put high hopes on the initial public offerings (IPOs) of SOEs slated for upcoming months. However, the IPOs may have little to offer them.