Vietnam: The Ministry of Construction looks set to realize its target of allowing all state-owned enterprises (SOEs) at its helm to 'go public' at the end of 2015, according to Deputy Minister Le Quang Hung. He said, in a recent report, that seven out of 16 corporations and holding companies under the ministry have undergone equitisation and the remaining nine would go public between now and the end of 2015.
The SOEs subject to equitisation include Vietnam National Construction Consultant Corporation (VNCC), Building Materials Corporation No. 1 (FiCO) and Vietnam Cement Industry Corporation (VICEM), among others.
A revised Enterprise Law, which took effect on 1 July 2015, says that SOEs are now defined as 100% owned by the state, instead of 51% or above as previously. Therefore, in addition to the construction ministry, the new law also helps other ministries complete restructuring and equitisation plans for SOEs under their respective umbrellas.