Vietnam's privatisation plan falls behind schedule - ministry

ASEAN - HANOI. Vietnam's plan to privatise state-owned enterprises (SOEs) have fallen behind schedule partly due to a lack of interest from investors, the Ministry of Finance said on Thursday.

The Southeast Asian country has been pushing to privatise its SOEs and list them on the stock exchanges as part of its economic reforms. The move helps the companies operate more efficiently and in a manner less prone to corruption.

Only 28 SOEs launched initial public offerings last year, way below a government target of 64, the ministry said in a statement. The government plans to privatise 127 SOEs during the 2017-2020 period.

"The government's wish to maintain large stakes at these SOEs has diminished the interest from potential investors," the ministry said in a statement.

Some ministries, provinces and state-owned groups have not seriously been implementing the privatisation plan, the ministry said, adding that some SOEs in the IPO wish list have also been facing difficulties pertaining to finance, labour and land.