HANOI, Oct 29 (Reuters) – Vietnam has approved a plan to set the minimum state ownership level for state-run lenders at 65% by 2030, part of a broader programme to restructure state capital in major enterprises and banks.
The restructuring plan, released late on Wednesday, covers 21 state-owned and state-backed enterprises, and forms part of Vietnam’s 2026-2030 programme to restructure state capital, with the aim of preserving state control in strategic sectors while giving authorities the flexibility to adjust their holdings in selected companies and lenders.
• The state plans to retain shares of at least 65% in BIDV, Vietcombank and VietinBank by 2030. The government’s stakes currently stand at 76.73% in BIDV and 74.80% in Vietcombank, above the new 65% threshold, while its holding in VietinBank is 64.46%
• The decision did not specify which mechanism would be used to reach those ownership levels or whether any stake sales, placements or capital raising will be undertaken
• The plan also maintains 100% state ownership in Agribank through 2030, making it the only bank among those covered that will remain fully state-owned
• The state will maintain 100% state ownership through 2030 in other major strategic enterprises, including Vietnam Electricity (EVN), the Vietnam National Industry-Energy Group (PetroVietnam), the Vietnam Expressway Corporation (VEC)
• Under the plan, the state’s direct holding in Vietnam Airlines is set to rise to 86.42% by 2030 from the current level of 39.29%
• The state-owned investor, the State Capital Investment Corporation, already holds a stake of about 47% in the airline, according to LSEG data
• The plan also envisages a reduction in the state’s stake in Vietnam Rubber Group to 75% from 96.77%, maintaining its majority control
• Vietnam had 695 state-owned enterprises by the end of 2025, including 497 wholly owned by the government, local media reported
(Reporting by Phuong Nguyen; Editing by David Stanway)
