Vietnam sets state ownership targets for banks and companies
The plan requires state stakes of at least 65% in three banks by 2030 and keeps Agribank and selected strategic enterprises fully government-owned.
- Vietnam has approved a new state ownership plan for 21 enterprises as part of its 2026–2030 capital restructuring program.
- The government will retain 100% ownership in key strategic companies, with Agribank being the only bank in this category, alongside firms like Vietnam Electricity (EVN) and Petrovietnam.
- A minimum state holding of 65% is required by 2030 for major banks such as BIDV, Vietcombank, and VietinBank.
- Ownership targets will vary by company, with the state's stake set to increase in Vietnam Airlines to over 86% while decreasing in the Vietnam Rubber Group to 75%.
Vietnam’s new ownership plan for 21 state-owned and state-backed enterprises aims to preserve government control of strategic sectors while leaving room to alter stakes in selected banks and companies.
The approved plan was released late on Wednesday, October 28, and forms part of Vietnam’s 2026–2030 programme to restructure state capital.
Agribank will be the only bank covered to remain 100 per cent government-owned through 2030.
Full state ownership will also continue over that period at other major strategic enterprises, including Vietnam Electricity (EVN), Vietnam National Industry - Energy Group (Petrovietnam) and Vietnam Expressway Corporation (VEC).
The state currently holds 76.73 per cent of BIDV and 74.80 per cent of Vietcombank, placing both above the minimum 65 per cent holding required by 2030. That requirement also applies to VietinBank, in which the government owns 64.46 per cent.
Vietnam Airlines has a direct state ownership target of 86.42 per cent by 2030, against 39.29 per cent currently.
LSEG data show that state-owned investor State Capital Investment Corporation already holds about 47 per cent of the airline.
At Vietnam Rubber Group, the planned government stake is 75 per cent, compared with 96.77 per cent currently.
The reduction would leave the state in majority control.
How those targets will be reached is not explained in the decision, which does not specify whether stake sales, placements or capital raising will take place.
Local media put the number of Vietnam’s state-owned enterprises at 695 by the end of 2025, with 497 of them wholly owned by the government.
Source: The Star
