Vietnam looks to attract foreign investment in equitisation of SOEs

CMSC and the Ministry of Foreign Affairs have organised a conference with heads of Vietnamese missions overseas to discuss opportunities and solutions to attract foreign investment in the equitisation of SOEs in Vietnam.

Deputy Minister of Foreign Affairs Bui Thanh Son said that Vietnam is considered a highlight for foreign investment in the context of global production shifts, given the country’s success in containing the COVID-19 pandemic and improved investment climate.

He said that more than 100 multinational enterprises were planning to shift their production to Vietnam, creating significant opportunities for Vietnam to attract foreign investment and select quality inflow.

He urged heads of Vietnamese missions overseas to study requirements and expectations of foreign investors and develop plans to attract their investment to Vietnam.

CMSC Chairman Nguyen Hoang Anh said as the Government is pushing the equitisation and pestment of SOEs, attracting foreign investment is essential.

Anh said that CMSC wished to receive cooperation from heads of Vietnamese missions overseas in attracting foreign investment in the process of SOE equitisation.

In the context of COVID-19 which seriously affected the global economy, including Vietnam, connecting SOEs with foreign investors would bring significant opportunities for attracting investment and boosting cooperation, he stressed.

According to the Ministry of Finance, the equitisation of SOEs had been much slower than expected. Under the Government’s plan, 128 SOEs must be equitised in the 2017-2020 period.

However, as of July, only 37 were equitised, meaning that the other 91 must complete the process in the remainder of this year to fulfill the Government’s plan.