The Government will keep at least 65% stake in State-owned enterprises (SOEs) in seven sectors, including the finance, banking, and aviation industries after completing privatization or divestment of State capital.

Customers at BIDV. Photo: Quoc Viet

The information was revealed in the Government’s decision No.22/2021/QD-TTg stipulating criteria for the classification of SOEs subject for privatization and divestment in the 2021-2025 period.

The decision is applied for airport management; air navigation services; seaport management; large-scale natural resources extraction; cartoon production for children; finance, banking (excluding insurance, securities, fund management, financial and financial leasing companies); and wholesale of essential food.

The State will hold from 50-65% stake at water purification and provision; basic chemical production; air transportation; petroleum distributors with at least 30% of market share; and others.

Sectors and fields subject to wholly owned by the State are survey and mapping for purpose of national security; production and distribution of industrial explosives and explosive precursors; national grid management and distribution; lottery; gold bar production and money printing; and debt solving.

The decision is set to take place from August 19.