The Hanoitimes – 100 state firms would be subject to privatization in 2019, while the number slated for state divestment is 193. SOE divestment and equitization present opportunities for investors Sluggish privatization affects Vietnam’s commitments in new FTAs Vietnamese SOE privatization is 85% below expectation True value of FDI up for debate Vietnam’s state-owned enterprises (SOEs) contributed 26 – 28% to the country’s GDP in 2018 and made up 24.82% of the state budget revenue, VnEconomy reported. Illustrative photo. As of the end of 2018, Vietnam has 490 wholly SOEs, including six conglomerates and 55 corporations, stated the Ministry of Planning and Investment (MPI) in a recent report. According to the report, total assets of those state firms reached VND1,843 trillion (US$79.54 billion), of which, the combined equity amounted to VND1,040 trillion (US$44.89 billion). Meanwhile, state firms generated revenue of VND193.51 trillion (US$8.35 billion) and VND26.42 trillion (US$1.14 billion) in profit last year. The MPI expected 100 state firms would be subject to privatization in 2019, while the number slated for state divestment is 193. In terms of foreign investment, the MPI forecast the actual disbursement of FDI in 2019 would be around US$18 – 19 billion and capital… Read full this story
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