Vietnam’s state-owned enterprises will continue to sell shares to foreign investors over the next year, with regulations being improved to facilitate cross-border deals. Before attending the financial investment promotion forum in London, Nguyen Duc Chi, chairman of State Capital Investment Corporation (SCIC), shared with VIR’s Phong Lan some of the upcoming sales. Nguyen Duc Chi What opportunities do you bring to Europe this time, through the forum in the UK? Based on plans approved by the prime minister, SCIC is scheduled to equitise five state-owned enterprises (SOEs) and divest from 132 others by 2020. In past years, SCIC has carried out a number of high-profile transactions that attracted both foreign and domestic investors. For example, the two stake sales of Vinamilk in 2016 have raised $800 million for the state budget, in exchange for 8.73 per cent of Vinamilk’ stake. We also sold 29.49 per cent of Binh Minh Plastics’ stake for $100 million, or 57 per cent of Vinaconex for close to $300 million. In the near future, we will continue our divestment plans at FPT, Bao Minh Insurance, Sa Giang Export & Import JSC, Tien Phong Plastics, Domesco, and so on. There are many lucrative and fast-growing businesses… Read full this story
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