Vietnam to exit stakes in airline, state-owned firms

By VCPOST Staff Reporter

Jan 15, 2014 05:28 AM EST

Vietnam plans to sell its holdings in a list of state-owned firms in 2014. The companies for partial sale include the national airline and auto manufacturer, according to ABC News.

A state media report said Prime Minister Nguyen Tan Dung ordered stock market listings for 11 firms last week. The said firms are currently controlled by the transport ministry, the report detailed.

Vietnam's economic reform agenda aimed to make boost the productivity of inefficient state companies. However, the agenda has slowed down in recent years due to sluggish growth and opposition from the Communist Party, the report explained.

Dung's new economic plans for this year suggest that reformers have gained their momentum once again, the report added.

Vietnam Airlines, Waterway Transportation Corp, and Vietnam Automobile Industry Corp are among the companies included in the list for partial sale. There are hundreds of companies listed on the country's stock market but most of them are too small to lure in foreign investors, the report said.

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