Government to sell stakes in 141 firms, privatize 19

By Anh Minh   November 29, 2022 | 09:27 pm PT
Government to sell stakes in 141 firms, privatize 19
A Vietnamese bank teller counting a stack of VND100,000 banknotes. Photo by Reuters
The government plans to divest its stakes in 141 companies and privatize 19 of others by 2025.

According to a decision on restructuring SOEs in the 2022-25 period announced Tuesday, the government will retain its stakes in 126 SOEs and 195 one-member limited liability companies, and restructure 26 others.

The decision comes at a time when privatization has slowed due to the Covid pandemic.

The government raised around VND3.36 trillion (US$135.56 million) from divesting stakes in SOEs in the first 10 months of this year, according to the Ministry of Finance.

A total of 180 companies were privatized in 2016-20 period, with the government raising nearly VND177.4 trillion, 6.5 times the book value, according to data from the Steering Committee of Business Development and Reform.

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