Workers at the Ca Mau 1 Power Plant under PVPOWER management operate equipment for power generation (Photo: VNA)
Hanoi (VNA) - The Government earned 198trillion (8.49 billion USD) from divestment and equitisation of State-ownedenterprises (SOEs) in the past three years.
The figure was triple that collected in the2011-2015 period. Of which, Vietnam collected 30 trillion VND (1.28 billionUSD) in 2016 and 140 trillion VND (6 billion USD) in 2017, with the latterincluding the record 110 trillion VND (4.71 billion USD) Sabeco divestment.
The country got 28.1 trillion VND (1.2billion USD) from divestment and equitisation of SOEs in the first half of thisyear. In the first eight months of this year, 10 out of 85 SOEs saw their equitisationplans approved, with total value of 29.5 trillion VND (1.26 billion USD).
Some big companies undergoing equitisationincluded PetroVietnam Power Corporation (PVPower), PetroVietnam Oil Corporation(PVOil) and Power Generation Corporation (Genco 3).
The Government would hold 54.1 percent ofshares at the companies after their divestment and equitisation. The remainingshares would be sold through initial public offerings (IPOs) and strategicpartners.
Thetotal money paid to the State budget from divestment and equitisation reached 115trillion VND (4.92 billion USD), meeting 46 percent of the set target in the2016-2020 period. The State-ownedcapital divestment at equitised firms has been slower than the set targets.
TheGovernment successfully divested capital from 17 out of 135 SOEs in the 2017plan. The remaining companies delayed their plans to this year. This hasincreased the volume of work to be done in 2018 to up to 181 businesses.-VNA
The Ministry of Construction said that speeding up the equitisation of and divestment of State capital from its State-owned businesses is one of the main focuses of the sector in 2018.
Many State-owned enterprises (SOEs) are finding it difficult to seek strategic investors following equitisation and have decided to retain the shares or sell them to the public.
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Workers at the Ca Mau 1 Power Plant under PVPOWER management operate equipment for power generation (Photo: VNA) 
