Vietnam earns 540 mln USD from state divestment in 4 months

By： Xinhua Update：2017-05-12

Vietnam gained some 12,200 billion Vietnamese dong (some 540 million U.S. dollars) through state divestment from state-owned enterprises (SOE) in the first four months of this year, the country's finance ministry has said.

Specifically, national wealth fund State Capital Investment Corporation (SCIC) sold some 1,353 billion Vietnamese dong (59.9 million U.S. dollars) worth of shares at 16 companies.

In April alone, nine firms were approved for equitization with total value of 2,470 billion Vietnamese dong (109.3 million U.S. dollars), of which the state capital stood at 546 billion Vietnamese dong (nearly 24.2 million U.S. dollars).

According to their equitization plans, the charter capital of the nine companies total 878.5 billion Vietnamese dong (38.9 million U.S. dollars), of which the state holds 413 billion Vietnamese dong (18.3 million U.S. dollars) and the stakes sold to strategic investors are worth 347.3 billion Vietnamese dong (15.4 million U.S. dollars).

Last month, SCIC announced the list of 100 SOEs to be equitized this year, including telecoms giant FPT where the state currently holds 6 percent of its stake, being its second largest shareholder.

Last year, 56 SOEs were approved for equitization with total value of 34 trillion Vietnamese dong (1.5 billion U.S. dollars), of which the state capital stood at 24.4 trillion Vietnamese dong (nearly 1.1 billion U.S. dollars).