Vietnam Plans to Equitise, Re-Arrange 899 SOEs by 2015

2:51:07 PM | 6/27/2012

The Ministry of Finance (MoF) announced that 899 State-owned enterprises (SOEs) will be re-organized and privatized in the 2011-2015 period.

The announcement was made after the MoF collected reports from four ministries, nine economic groups, ten State corporations and 57 localities.

Of the figure, 367 enterprises will be equitized and 532 will be re-arranged in different models of delivery, dissolution, bankruptcy and transmission to limited-liability companies with single member or two members.

In 2012, the MoF plans to privatize 93 SOEs, of which 22 belong to ministries and agencies; 33 of economic groups and general corporations and 38 of localities.

Earlier, the MoF announced that as of April 20, 2012, 5.856 enterprises were re-arranged and 3,951 of which were equitized, accounting for 67.4 percent of the total SOEs.

As of October 2011, Vietnam was home to 1,309 SOEs. They make up 35 percent of GDP, hold 39.5 percent of the country’s total industrial output and over 50 percent of export turnover, and create around 1.2 million jobs.

VGP