Vietnam approves capital divestment, restructuring at six firms, banks

HANOI: The government has approved a plan on restructuring state capital for the 2026 to 2030 period that will change the ratio of state capital in six enterprises and banks.

Under Decision 2054/QĐ-TTg signed by Deputy Prime Minister Nguyen Van Thang, the enterprises and banks slated for capital restructuring are Vietnam Airlines, Vietnam Maritime Corp, Vietnam Rubber Group, the Joint Stock Commercial Bank for Investment and Development of Vietnam, the Joint Stock Commercial Bank for Foreign Trade of Vietnam, and the Vietnam Joint Stock Commercial Bank for Industry and Trade.

Meanwhile, 15 enterprises will retain their current proportions of state-held capital through 2030. Of these, the Finance Ministry represents the state’s interest in 14 entities, while one entity falls under the State Bank of Vietnam. Ten of the enterprises on this list are 100% state-owned.

The Finance Ministry and State Bank of Vietnam are tasked with organising divestment for enterprises subject to state capital restructuring.

They are authorised to determine the timing and methods of implementation, ensuring compliance with legal regulations and the completion of the plan within the 2026 to 2030 period.

In cases where the state ownership ratio does not meet the prescribed thresholds, or if the plan cannot be completed within the 2026 to 2030 period, the relevant agencies must clarify the causes and the responsibilities of those involved, and report to authorities for review and resolution.

By Jan 31 each year, the agencies must submit reports on the progress of enterprise reorganisation and restructuring to the Finance Ministry for monitoring and consolidation. — Viet Nam News/ANN