Vietnam Deputy PM Says to Increase Foreign Indirect Investment Absorbability
Vietnamese Deputy Prime Minister Nguyen Sinh Hung said on February 14 said the government will speed up share sales in state-owned firms and corporations to increase absorbability of foreign indirect investment.
“Increasing flows of indirect foreign investment have been poured into the local stock market will help strengthen Vietnam’s financial health, signaling that foreign investors’ confidence in Vietnam are heightened,” Mr. Hung said.
The privatization pace of SOEs which have huge assets was not as expected last year due to difficulties in defining values and selecting strategic partners, Mr. Hung said, calling for more transparency and accountability for overseas listings.
Last year Vietnam attracted US$5.5 billion of FII and US$20.3 billion of FDI, much higher than the expectations by local authorities and international financial institutions, Hung noted.
Prime Minister Nguyen Tan Dung recently said the government will sell shares in state-owned telecom firms, breweries and banks to foreign investors.
Vietnamese
