There are five banks on the list of 103 enterprises that will remain wholly owned by the State in 2016-2020, with three of them acquired by the central bank at zero dong for restructuring.
Late last month, the Government released Decision 58 of the Prime Minister providing criteria for classification of State-owned enterprises (SOEs), those with State capital contributions and the list of SOEs to be restructured in 2016-2020.
Compared to the previous five-year period, there are many changes to the list of enterprises where the State maintains ownership of 100% and more than 65%.
Of the 103 enterprises where the State will keep whole ownership, 64 are operating in lottery, power transmission and regulation, production and trading of explosives, management of national railway and urban railway infrastructure, air traffic service and money printing.
Among them, there are six credit institutions to remain wholly State-owned to ensure the policy and the safety of the banking system. They are Deposit Insurance of Vietnam, Vietnam Development Bank, Vietnam Bank for Social Policies, and the three banks that have been bought at VND0 in the past two years, namely Global Petrol Bank, Vietnam Construction Bank and Ocean Bank.
In addition, the State decides to reorganize, float and hold a stake of 65% or more in airport and fly zone management firms, large-scale mining companies, oil and gas businesses, and those active in finance and banking (not including insurance, securities, fund management, finance and financial leasing firms).
There will also be 17 businesses nationwide 50-65% owned by the State after they go public, including manufacturers of basic chemicals and air transporters. This category also comprises the enterprises with a market share of 30% or more and a role in ensuring the major balances of the economy and market stabilization. They are fuel importers, telecom service providers with network infrastructure, power retailers and those guaranteeing the basic needs for the production development and improvement of the lives of the people in remote areas.
Of the other 106 enterprises where State ownership will be reduced to less than 50% in the next four years, 53 are operating in water supply, environment and lighting.
This decision will come into force on February 15, 2017, replacing Decision 37 issued in 2014.