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Vietnam plans to sell stakes in Agribank, 92 other state-owned companies

Vietnam is looking to sell stakes in Vietnam Bank for Agriculture & Rural Development, or Agribank; Vietnam Posts and Telecommunications Group, or VNPT; Mobifone Corp. and 90 other state-owned companies by the end of 2020, Bloomberg News reported Aug. 16, citing a statement on the government's website.

The government wants to sell up to a 35% stake in Agribank, Vietnam National Coal - Mineral Industries Holding Corp. Ltd., Vietnam Northern Food and Minerals Co. Ltd. In addition, it aims to sell stakes of up to 49% in VNPT, Mobifone, Vietnam National Coffee Corp., Vietnam Cement Industry Corp., Saigon Trading Group and 57 other companies.

The plan also involves selling between 50% and 100% of the government's stakes in 27 companies, such as Saigon Jewelry Co., Housing and Urban Development Corp., Power Generation Corp. 1, Power Generation Corp. 2 and Hanoitourist.