SCIC unveils plan to sell State capital in ten firms



The State Capital Investment Corporation (SCIC) has unveiled plans to sell the entire State capital of 10 big State-owned enterprises which could garner the State budget earnings of almost US$4 billion.

These target companies include companies on the stock exchange such as dairy giant Vinamilk (VNM), software producer FPT Corp (FPT), Bao Minh Insurance Corp (BMI), Tien Phong Plastic Co (NTP) and Binh Minh Plastic Co (BMP).
This is part of the restructuring scheme for the State Capital Investment Corp (SCIC) which was endorsed by Deputy Prime Minister Vu Van Ninh on October 8. The timetable for the divestment has not yet been decided.

The earnings will help the Government repay public debt which amounted to USD 92.6 billion, equivalent to 46 per cent of GDP by October 11, a rise of 9.6 per cent year-on-year, according to the economist’s data,

Source: Vietnam News