Gov't sets market capitalization targets for SOEs

VGP - The Government targets to have at least 25 State-owned enterprises (SOEs) with a market capitalization of over US$1 billion each by 2025, of which ten will have a market capitalization of over US$5 billion each.

October 27, 2022 5:51 PM GMT+7

By 2025, all SOEs will have digital-based governance in line with OECD's principles for corporate governance, according to the Government's report.

So far, the State has invested over VND 1.67 quadrillion in 826 SOEs, an increase of 3 percent again 2020. The figure includes VND1.5 quadrillion in charter capital in the SOEs wholly owned by the State.

The Government expects the contribution of these enterprises to the State budget in the 2021-2025 period will increase by 5 percent to 10 percent compared to the previous five-year period.

In the coming time, the Government will select some capable SOEs for listing on regional and world stock exchanges.

As of December 31, 2021, Viet Nam had 826 SOEs, including 194 central SOEs and 632 local ones, according to the Ministry of Finance.

Last year, pre-tax profit of these enterprises valued at VND 205,045 billion, up 25 percent against 2020.

Up to 184 out of these enterprises, accounting for 22 percent, reported losses of VND 52,840 billion./.