Capital divestment from State-owned enterprises had slowed and was still facing difficulties, said Đặng Quyết Tiến, director of Corporate Finance Department under the Ministry of Finance.
PV Oil’s locking of the foreign ownership ratio at 6.6 per cent is a temporary measure before the Government endorses its new capital divestment plan, according to the company’s general director Cao Hoài Dương.
The State Bank of Việt Nam (SBV)’s Operations Centre has decided to adjust the reference exchange rate of the Vietnamese đồng against the US dollar for the first time since February 2018.
A total 797 companies had traded shares on the Unlisted Public Company Market (UPCoM) as of Monday, exceeding the total number of listed companies on the Ho Chi Minh and Hà Nội stock exchanges and putting pressure on market management and supervision.
Three years after a groundbreaking decree opened public companies to foreign ownership, less than four per cent of eligible firms have removed their foreign ownership ceiling.
The Government is directing ministries and agencies to raise capital for State-owned commercial banks through the use of dividends or share sales this year.
The Government plans not to license any more wholly foreign-owned banks in Việt Nam, instead encouraging foreign banks to buy weak domestic banks, Deputy Prime Minister Vương Đình Huệ said.