Vietnam targets 10 state firms worth over $5 bln by 2025
The Vietnamese government aims to have at least 10 state-owned companies with market capitalization of over $5 billion on local bourses in the next five years.
Under a new resolution signed by Deputy Prime Minister Le Minh Khai, the country is set to have at least 25 state-owned enterprises (SOEs) with equity or market capitalization reaching $1 billion on the stock exchanges. Of these, at least 10 have market capitalization of over $5 billion.
“All SOEs will shift their investment towards projects using green technology, with lower carbon emissions,” the resolution stated.
BIDV is one of Vietnam's biggest listed companies by market capitalization, with the state being the majority shareholder. Photo by The Investor/Trong Hieu.
According to the Ministry of Finance, SOEs account for about 0.08% of operating enterprises across the country but make up 7% of total assets and 10% of equity.
Wholly state-owned enterprises contributed nearly VND241,730 billion ($10.47 billion) to the state budget in 2020, of which state-run economic groups, corporations and holding companies accounted for 84%.
The Ho Chi Minh Stock Exchange (HoSE) is currently home to 49 enterprises with billion-dollar market capitalization, which account for 80% of the main bourse’s capitalization, like Vietcombank, BIDV, VietinBank, and Sabeco. The state holds the dominant stake in the first three.
The government required ministries and local administrations to increase mobilization of SOE resources for economic development. "SOEs should be assigned to invest in important projects in priority fields like renewable energy, clean energy, semiconductor manufacturing, transport infrastructure, digital transformation infrastructure, and important materials like inputs for production of steel and petrochemicals."
Ministries and sectors were asked to provide mechanisms to encourage cooperation between SOEs and private enterprises in implementing large-scale projects. "This is to increase the efficiency of value chains and expand business space."
The government ordered State Capital Investment Corporation (SCIC) to enhance its role as a government investor to attract more financial resources of important, large enterprises and projects.
"SOEs will definitely divest from non-core sectors, focusing only on core businesses," it added.
- Read More
Vietnam’s 8.3-8.5% growth target for 2025 ‘appropriate’: policy advisory council
The Vietnamese government’s GDP growth target of 8.3-8.5% for 2025 and double-digit expansion for 2026-2030 is "appropriate" in the context of favorable macroeconomic conditions and structural reforms, according to the Prime Minister’s Policy Advisory Council.
Economy - Mon, September 8, 2025 | 1:03 pm GMT+7
Enertrag SE proposes 55 MW wind power project in northern Vietnam
The Bac Ninh province People’s Committee is seeking public and ministerial feedback on a 55 MW wind power plant initiated by Enertrag Vietnam Co., Ltd, a subsidiary of German-based global renewables developer Enertrag SE.
Energy - Mon, September 8, 2025 | 11:29 am GMT+7
Southern Vietnam airport project Long Thanh on fast track, test flights set for December
Construction of the Long Thanh International Airport in the southern province of Dong Nai is progressing on schedule, with calibration flights for Runway 1 planned for September 25 and a technical test flight expected on December 19.
Infrastructure - Mon, September 8, 2025 | 11:13 am GMT+7
Why Vietnamese agricultural machinery major VEAM shares on sidelines of market rally?
While Vietnam’s stock market has surged in recent months, sending the benchmark VN-Index from around 1,090 points to nearly 1,700, state-controlled VEAM’s stock VEA has remained flat, trading sideways at around VND39,000 ($1.48) per share over the past year.
Companies - Mon, September 8, 2025 | 8:30 am GMT+7
New train helps tourists explore landmarks of Hanoi, Bac Ninh province
The Hanoi Train officially began operation on Saturday, offering visitors a new way to explore the capital’s landmarks and travel to Tu Son in Bac Ninh province.
Travel - Sun, September 7, 2025 | 8:20 pm GMT+7
Vietnam’s e-motorbike market enters stage of fierce competition
Vietnam’s electric motorbike market is entering a new phase of intense competition as domestic and foreign manufacturers are accelerating their expansion, diversify products, and invest heavily in infrastructure.
Companies - Sun, September 7, 2025 | 6:06 pm GMT+7
HCMC fast-tracks rail projects proposed by private conglomerates
The Ho Chi Minh City People’s Committee has asked municipal agencies to work with major private conglomerates to finalize investment plans for the railway projects they proposed.
Infrastructure - Sun, September 7, 2025 | 1:52 pm GMT+7
Vietnam's Finance Ministry targets 60% public investment disbursement by end-Q3
Vietnam’s public investment disbursement reached VND409.17 trillion ($15.49 billion) in the year to August 31, equal to 39.9% of the year's plan and 46.3% of the Prime Minister’s target, the Ministry of Finance (MoF) reported.
Economy - Sun, September 7, 2025 | 10:53 am GMT+7
Vietnam posts nearly $14 bln trade surplus in 8 months
Vietnam recorded a trade surplus of $13.99 billion in the first eight months of 2025, according to the General Statistics Office under the Ministry of Finance.
Economy - Sun, September 7, 2025 | 10:41 am GMT+7
S&P upgrades ratings of three Vietnamese banks, citing resilient economy
S&P Global Ratings has raised the long-term credit ratings of three major Vietnamese banks, reflecting the stronger resilience of the country’s financial system and continued above-average economic growth.
Banking - Sun, September 7, 2025 | 10:34 am GMT+7
Luong Nguyen Minh Triet appointed top leader of central Vietnam hub Danang
Luong Nguyen Minh Triet, deputy Party chief of Danang and Chairman of the municipal People's Committee, has been appointed the city's Party chief - the highest position in the locality.
Politics - Sun, September 7, 2025 | 9:53 am GMT+7
Sun Group aims to launch $2 bln casino-resort complex in northern Vietnam by 2032
Sun Group, one of Vietnam’s leading property developers, targets to complete its VND51.6 trillion ($2 billion) casino and resort complex project in the northern coastal province of Quang Ninh by 2032.
Real Estate - Sun, September 7, 2025 | 8:00 am GMT+7
Vietnam's industrial production on upward trend
Vietnam's industrial production index continued to rise in the first eight months of the year, with all 34 cities and provinces recording an increase.
Economy - Sat, September 6, 2025 | 10:20 pm GMT+7
Vietnam's leading industrial park developer Becamex IDC raises $75 mln in latest bond issuance
Becamex IDC (HoSE: BCM), a leading Vietnamese industrial park developer, has raised VND2 trillion ($75.4 million) in its latest bond issuance.
Finance - Sat, September 6, 2025 | 8:35 pm GMT+7
Vietnam's FDI capital disbursement hits five-year high amid global decline
Disbursed foreign direct investment (FDI) capital in Vietnam hit $15.4 billion in Jan-August, up 8.8% year-on-year, despite declining global investment flows, the Foreign Investment Agency (FIA) reported.
Economy - Sat, September 6, 2025 | 4:30 pm GMT+7
EVNNPT leader inspects 220kV substation project progress in central Vietnam
Pham Le Phu, CEO of EVNNPT, a subsidiary of state utility Electricity Vietnam (EVN), on Thursday inspected the construction of the 220kV Chan May Substation and its associated transmission line in the central city of Hue.
Companies - Sat, September 6, 2025 | 3:42 pm GMT+7
