Banks with a relatively good performance and financial situation can easily adopt Basel II standards whereas it is difficult for those facing financial difficulties.

Việt Nam's fiscal deficit will stay high at 5.7 per cent (including interest repayment) in 2019 due to delays in the divestment of State-owned enterprises (SOE) and lower import tax revenues, according to Fitch Group’s Fitch Solutions forecast.

The improved business performance of Vietnamese banks and a Government regulation to require local banks to meet stricter capital regulations as part of Basel II standards is spelling the start of a wave of foreign investment into the country’s finance and banking sector through mergers and acquisitions (M&A) in 2019, experts said.

Although Việt Nam’s balance of trade in the first eight months of the year stood at a surplus of US$2.8 billion, analysts warn about it returning to a deficit in the coming months.

Vietnam Oil and Gas Group (Petro Vietnam or PVN) plans to reduce its ownership of Petro Vietnam Gas Joint Stock Company (PV Gas) from the current 97 per cent to 65 per cent.

Shares performed well on the HCM Stock Exchange on Tuesday on the efforts of energy and beverage stocks following news about the State’s divestment from largest brewer Sabeco and a jump in oil prices.

Transparency in the equitisation of State-owned enterprises (SOEs) must be enhanced to attract foreign strategic investment in the process, experts said.

State-owned enterprises can apply the book building method at their initial public offering (IPO) from the beginning of 2018, according to a recently issued decree.

According to the Ministry of Planning and Investment, as of September 20 banking credit growth was only 11.02 per cent against a full-year target of 21 per cent.

PetroVietnam Oil Corporation (PV Oil) may double the amount of shares offered as part of its initial public offering (IPO), which is scheduled in the fourth quarter of this year.