Due to the slow progress of equitization, the scale of state-owned enterprises (SOEs) in the economy is still very large, accounted for 7% of total assets and 10% of equity of all enterprises in the market.

The Ministry of Finance has stated in its recent report that the equitization process of State-owned enterprises (SOEs) has been taking place very slowly and therefore has not achieved its set target.

State-owned enterprises (SOEs) have not been able to fulfill their leading and motivating role in the economy and lack a strategic vision to develop and participate in global value chains.

Deputy Prime Minister Le Minh Khai has signed a decision to deepen the restructuring of state-owned enterprises (SOEs) in 2021-25.

Although relevant policies have been put in place, the process of equitisation and divestment of state capital is still moving at a very slow pace.

The world is changing, with many great opportunities opening up for Vietnam. However, Vietnamese state-owned corporations, which have both financial and human resources potential, are unable to reach out to the world to seize these opportunities. 

According to experts, many SoEs which used to make significant profits and contributed to the State budget, have become burdens on the economy when their investments caused losses of trillions of dong.

The situation changed in a positive direction when the stock market and and stock prices went up. This will enable divestment from SOEs and the equitization process to take place more easily.

Little progress has been made to salvage the 'infamous twelve', a series of failed mega economic projects under the management of the Ministry of Industry and Trade,

How will Vietnam overcome challenges to realize its development plans? Nguyen Dinh Cung, former head of Central Institute for Economic Management (CIEM), shares his perspective with VietNamNet.

Vietnam’s moves to reform and boost the performance of state-owned enterprises is just the latest in a long line of adjustments over the years, 

Acall has been made for Vietnam to revise the regulations on the management and use of state capital in enterprises to create state-owned groups that can operate more effectively and contribute more to national economic development 

This would be the first step for Vietnam’s state firms to list shares on international stock exchanges.

Developing the capital market will help in promoting State Owned Enterprises (SOEs) to mobilize capital and reduce the proportion of commercial credit loans, and diversify in forms of mobilization to supplement capital.

The Ministry of Planning and Investment has proposed special policies for large State-owned enterprises (SOEs) to make them spearheads in key industries of the economy.

The State plans to hold 100 percent of charter capital in only four holding companies: PetroVietnam, Electricity of Vietnam (EVN), State Capital Investment Corporation (SCIC) and Viettel.

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The Thai Nguyen iron and steel project phase 2 has been left idle for many years, bringing about the dismissal and prosecution of high ranking managers of Tisco (Thai Nguyen Iron and Steel JSC) and VNSteel (Vietnam Steel Corporation).

The rate of equitised State-owned enterprises (SOEs) for the 2017-20 period has remained at 28 per cent for several months, the latest update from the Ministry of Finance shows.

Many equitized enterprises have suffered big losses as state capital in these unprofitable enterprises is difficult to sell because of unreasonable pricing.