A legal framework for restructuring state-owned enterprises (SOEs) in the 2021-25 period is expected to speed up the process. In 2020, nine SOEs were privatized for proceeds of VND949 billion (US$41.2 million), which resulted in a total of 180 state firms completing the privatization process in the 2016-2020 period and raising VND36.5 trillion ($1.58 billion) for the state budget. Production at Garment 10 Company. Photo: Thanh Hai The information was revealed in a recent government report on the restructuring process of the state sector, suggesting the progress remains slow at 27.3% of the plan as of late 2020. According to the report, the process remains pending in 89 SOEs, including 13 in the capital city and 38 in the country’s southern hub. The others include six managed by the Committee for State Capital Management (CSCM), four under the Ministry of Industry and Trade (MoIT), and two under the Ministry of Construction (MoC). “The key bottleneck that … [Read more...] about 180 SOEs privatized in 2016-2020 period
