The Hanoitimes - Total asset valuation of those enterprises being privatized so far stood at VND29.7 trillion (US$1.27 billion), of which, the state capital amounted to VND15.4 trillion (US$660.95 million).
As of November, local authority has approved the equitization scheme of 12 out of the target of 85 state-owned enterprises (SOEs), according to a report of the Ministry of Finance.
Total asset valuation of those enterprises being privatized so far stood at VND29.7 trillion (US$1.27 billion), of which the state capital amounted to VND15.4 trillion (US$660.95 million).
The report informed that a total of 21 SOEs raised VND21.6 trillion (US$927.6 million) through their respective initial public offerings (IPOs), while the government has approved the restructuring plan of 35 SOEs.
The number of wholly state-owned enterprises in Vietnam is projected to be reduced by five times from 500 currently to 100 by 2020, according to Vice Minister of Planning and Investment Nguyen Van Hieu.
According to Saigon Securities Inc (SSI), the largest brokerage house in the country, Vietnam's effort to raise funds from the public-sector reforms is expected to triple in 2018 - 2020 compared to levels seen in the 2011 - 2017 period.
Specifically, the total proceeds from IPOs and the share sales of SOEs in the next two years are expected to reach US$26.3 billion, 2.75 times higher than the funds raised for the whole 2011-2017 period. Of the total, the value of IPOs will reach US$9.7 billion, while the total amount of divestment could hit US$16.6 billion.
"Vietnam could end up being the only country in the world that embarks on a new wave of SOE reform in 2018 - 2020, placing large and profitable SOEs on public offer," stated SSI.