Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Vietnam privatisation plans further behind schedule due to pandemic

Stock Markets Aug 14, 2020 02:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

HANOI (Reuters) - Vietnam's plan to privatise scores of state-owned enterprises (SOEs) has fallen further behind schedule amid the pandemic, with only 37 companies divested so far out of a target of 128 in the 2017-2020 period, the Ministry of Finance said.

The Southeast Asian country has been seeking to speed up its privatisation of state-owned firms in recent years to improve their performance and to fill its coffers amid high levels of public debt.

"One of the reasons behind the stagnation of privatisation progress is the COVID-19 outbreak that has impacted all socio-economic aspects, market demand and the stock market," the ministry said in a statement on its website.

The ministry also cited other obstacles including incompetent management at SOEs and the difficulty in evaluating the assets of the companies.

SOEs that had been targeted for initial public offerings but had yet to be evaluated include mobile carrier MobiFone, the country's largest bank by assets, Agribank, Northern Food Corp., mining group Vinacomin and Vietnam National Chemical Group, it said.

Vietnam has reported more than 900 COVID-19 infections since its first cases were detected in January, with 21 deaths. The country's gross domestic product grew 0.36% in the second quarter this year, the slowest pace in decades.

Vietnam privatisation plans further behind schedule due to pandemic
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email