HANOI, Vietnam _ Vietnam's prime minister has approved a list of 71 major
state-owned enterprises, including national carrier Vietnam Airlines, that will
be partially privatized between now and the year 2010, the government said
The decision, made last week but just announced, will require the companies
on the list to work out their plans to sell equity shares to the public and
submit them to Prime Minister Nguyen Tan Dung for his approval, the government
said on its Web site.
Vietcombank and Vietnam Insurance Corp. are among the companies that will
offer shares to the public this year; 26 others, including Vietnam Airlines,
will go public in 2008. Another 19 will offer shares in 2009 and six more by
The government will maintain a controlling stake of at least 51 percent in
each of the companies.
Tran Dinh Hung, an official with Vietnam Airlines, one of the country's
largest enterprises, said the carrier's board of directors will meet this month
to work out its plan.
The airline plans to sell between 10 percent to 20 percent of its shares to
the public, he said.
"We will be more efficient and more dynamic after equitization," he said.
Currently the company is under direct control of the prime minister.
Vietnam has about 1,900 state-owned enterprises, down from some 12,000 before
the country launched the Doi Moi or renovation process in the Mid 1980s.