Vietnam Orders Speed-up of Privatization of Major State Firms

(Bloomberg) -- Vietnam’s Commission for Management of State Capital at Enterprises must focus on quickening the privatization process at several major state-owned companies, according to the government website, which cited Deputy Premier Truong Hoa Binh.

  • Binh, who spoke at a Thursday meeting with the commission, singled out companies that need to hasten the process at companies such as Vietnam Posts & Telecommunications Group, Vietnam National Chemical Corp, Vietnam National Coal & Mineral Industries Holding Corp, Vietnam Northern Food, Vietnam Electricity Group’s Power Generation Corp 1, and Power Generation Corp 2
  • Binh also directed the commission to complete planned restructuring, privatization, sales of state stakes and share listings at state enterprises the government earlier marked for privatization
  • NOTE: The commission manages 19 of Vietnam’s largest state-owned companies, including Vietnam Airlines, VinaCafe, Petrolimex, SCIC, Mobifone, Vietnam Rubber Group, PetroVietnam, Airports Corp. of Vietnam and Vietnam Southern Food Corp.

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