Sign up | Log in



Home  >>   Daily News  >>Vietnam>>Construction>>Ministry earns $89m from divestments
NEWS UPDATES Asean Affairs    27  July  2016  

Ministry earns $89m from divestments

Vietnam:The Ministry of Transport divested from several companies following Government directives, gaining more than VND2 trillion (US$88.9 million) during the first half of this year, said an official from the ministry.

Vu Anh Minh, Director of the Enterprise Development Department, told the local press that the amount represented about 130 per cent of the book values of the firms, and the ministry sent it to the enterprise rationalisation fund of the State Capital Investment Corporation (SCIC).

The ministry withdrew all State stakes from four companies, including Civil Engineering Construction Corporation No 6 (Cienco 6), Transport Engineering Design Inc, Waterway Transportation Corporation, and Viet Nam Motors Industry Corporation. It withdrew a 23 per cent stake from Cienco 5.

During H1, the ministry also directed its corporations to divest from 11 joint stock companies, collecting nearly VND141 billion, or 160 per cent of their book values.

It was conducting schemes to divest from two inland waterway management and maintenance joint stock companies, Wamico No 1 and Wamico No 10.

It proposed with the Government plans to divest from some other joint stock companies, including three road construction and management firms, a company of the Viet Nam Maritime University, and a company of the HCM City University of Transport.

Minh said the ministry transferred the right of State ownership at Th?ng Long Corporation, a traffic infrastructure construction company, to the SCIC. A similar transfer process is underway at the Transport Investment Cooperation and Import Export JSC.

The SCIC will also represent the rights of State ownership at Cienco 5, Cienco 8 and Waterway Construction JSC, instead of the ministry, in the future.

Minh said the ministry will continue to direct some other corporations, including Viet Nam Railways, Vi?t Nam Maritime Safety – North and Vi?t Nam Maritime Safety – South, to withdraw capital from non-core lines of business.

Vietnam Airlines, Cuu Long Corporation for Investment Development and Project Management of Infrastructure, Viet Nam Expressway Corporation and Vi?t Nam Maritime University are also to do the same, he said.

The ongoing divestments, along with the equitisation of State-owned enterprises, are part of national efforts for economic reforms that need to be accelerated in Viet Nam.

In a related development, the Government is mulling the establishment of a special committee to manage capital at dozens of SOEs in various areas, in a context that they are ineffectively administered by ministries and sectors.

Although the SCIC was established 10 years to manage State interests in companies and projects, ministries and sectors still reportedly assume a dominant role in administering State utility firms for certain interests.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           July 27, 2016 Subsribe Now !
• Indonesia urged to combat logistics, transportation sector monopolies Subcribe: Asean Affairs Global Magazine
• Brunei’s economic reforms bearing fruit 
• Ministry earns $89m from divestments
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• PTPN X signs sugarcane waste power purchase deal
• Visa-free travel can boost tourism, air linkages
Asean Analysis                  Jully 22, 2016
• Asean Analysis July 22, 2016
Singapore-U.S. Relations to Set Pace for Twenty-first Century U.S. Engagement in Southeast Asia
Advertise Your Brand

Asean Stock Watch   July  26, 2016
• Asean Stock Watch-July 26, 2016
The Biweekly Update
• The Biweekly Update  July 22, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand