return icon Vietnamnet.vn

VN wants to keep at least 65% equity in state-owned banks

Except Vietinbank, other State-owned commercial banks are not allowed to sell more than 35% of the shares. The government has also permitted State-owned corporations to divest from non-core business fields below the face value.

VietNamNet Bridge - Except Vietinbank, other State-owned commercial banks are not allowed to sell more than 35% of the shares. The government has also permitted State-owned corporations to divest from non-core business fields below the face value.

The above regulations are stipulated in a newly-issued Resolution of the Government to accelerate equitization and divestments of State-owned enterprises.

Accordingly, the Government requested State-owned corporations and enterprises to determine the rate of capital held by the state based on the classification criteria and their role to the development of related industries, but the rate must not be more than 65%.

However, the Vietnam Insurance Group (Bao Viet) and the joint-stock commercial banks have to maintain the percentage of shares held by the State at least 65%. However, the Government also stated that the Vietnam Bank for Industry and Trade (Vietinbank) is permitted to sell more than 35% of the State capital.

In fact, in Vietinbank, the State accounts for 64.5% of the charter capital. The Bank of Tokyo - Mitsubishi UFJ (BTMU) holds 19.73% stake.

At the Bank for Foreign Trade (Vietcombank), the State capital is 77.11% and the strategic partner - Mizuho Bank owns 15% stake.

Meanwhile, the Bank for Investment and Development of Vietnam (BIDV), which has just been listed on the stock exchange, the State holds up to 95.76% of the capital.

According to the Resolution, if state-owned firms fail to implement the equitization and disinvestment from non-core business fields, their leaders will have to bear responsibilities. Moreover, ministers, heads of ministerial-level agencies and the chairs of the provinces must also take responsibility if delayed completion of the plan.

Na Son

MORE NEWS

Central bank not tighten real estate credit: Deputy Governor

The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.

Vietnamese Prime Minister starts official visit to Singapore

Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation arrived in Changi Airport on February 8 afternoon, starting a three-day official visit to Singapore.

Businesses discuss ways to overcome challenges in 2023

Warned that uncertainties will still exist in 2023, businesses need to prepare well to weather the storm.

Vietnam's bond market remains quiet this year

The scale of debt in the corporate bond market is less than 15 per cent of GDP.

Organ trafficking in Vietnam driven by high demand, low rate of donation: experts

A conference on organ donation registration and the prevention of human organ and tissue trafficking was held on Monday.

VCCI proposes allowing businesses to set fuel retail prices

The Vietnam Chamber of Commerce and Industry (VCCI) has written to the Government suggesting fuel retail prices be decided by businesses based on supply and demand to prevent fuel shortages.

VIETNAM NEWS HEADLINES FEBRUARY 8/2023

Vietnam puts children at centre of development policies, strategies: Ambassador

Gov’t issues action plan to realize Hanoi’s development vision until 2045

The Government has issued an action plan to realize Politburo’s resolution on the objectives for Hanoi’s development until 2030, with a vision to 2045.

Commercial sidewalk use may be charged by HCMC authorities

HCMC is planning to allow the paid use of sidewalks for commercial purposes such as vending goods or parking if these business activities leave a space of at least 1.5 meters wide for pedestrians.

CAAV advises caution when buying air tickets

The Civil Aviation Authority of Viet Nam (CAAV) has received feedback on the fact that passengers have to buy air tickets higher than the specified prices on domestic routes, especially during the peak of the Lunar New Year (Tet).

Prime Minister leaves Hanoi for official visits to Singapore, Brunei

Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam left Hanoi at noon on February 8 for official visits to Singapore and Brunei from February 8-11.

US war veteran wishing to return wartime diary to Vietnamese family

Pater Mathews, a US war veteran, has emailed relevant agencies of Ha Tinh province, central Vietnam, expressing his desire to fly to Vietnam and return a Vietnamese martyr’s diary he came across decades ago to the martyr’s family.

VIETNAM BUSINESS NEWS FEBRUARY 8/2023

January payment transactions via national public service portal valued at 11.8 mln USD

Vietnam needs new products, services to reach tourism targets

To realise the targets of attracting 110 million tourists and earning some 650 trillion VND (27.5 billion USD) in revenue this year, Vietnam is recommended to develop more products and services to offer new experiences to visitors.

PM Chinh’s Singapore visit expected to advance bilateral trade ties

Prime Minister Pham Minh Chinh’s Singapore visit from February 8-10 aims to affirm the determination to elevate the bilateral economic ties to a new height in the context of many free trade agreement (FTAs) coming into force.
back_to_top