The State Capital Investment Corporation (SCIC) plans to sell capital in 101 businesses this year, 13 more than in 2021. To complete the divestment plan for the 2021-2025 period, it is finalizing its business strategy for the 2021-2030 period and vision to 2035, as well as its restructuring project for the 2021-2025 period.
According to a report presented by the Ministry of Finance to the National Assembly, one reason the equitization and divestment of State capital has stalled in recent times is the lack of incentive when the State-owned enterprise (SOE) is posting strong growth and high profits. This leads to many SOEs remaining in industries where the State does not need to maintain ownership.
Revenue from the equitization of and divestments by State-owned corporations contributed VND1.4 trillion ($61.81 million) to the State budget in 2021, or just 3.5 per cent of the plan. This year, it is expected that divestments by six large firms, including FPT Corporation and the Hanoi Beer - Alcohol - Beverage Corporation (Habeco), will bring in VND20 trillion ($883.1 million).
