Vietnam has approved a plan to set the minimum state ownership level for state-run lenders at 65% by 2030, part of a broader programme to restructure state capital in major enterprises and banks.
The restructuring plan, released late on Wednesday, covers 21 state-owned and state-backed enterprises, and forms part of Vietnam’s 2026-2030 programme to restructure state capital, with the aim of preserving state control in strategic sectors while giving authorities the flexibility to adjust their holdings in selected companies and lenders.
The state plans to retain shares of at least 65% in BIDV, Vietcombank and VietinBank by 2030. The government’s stakes currently stand at 76.73% in BIDV and 74.80% in Vietcombank, above the new 65% threshold, while its holding in VietinBank is 64.46%.
The decision did not specify which mechanism would be used to reach those ownership levels or whether any stake sales, placements or capital raising will be undertaken.
The plan also maintains 100% state ownership in Agribank through 2030, making it the only bank among those covered that will remain fully state-owned.
The state will maintain 100% state ownership through 2030 in other major strategic enterprises, including Vietnam Electricity (EVN), the Vietnam National Industry-Energy Group (PetroVietnam), the Vietnam Expressway Corporation (VEC).
Under the plan, the state’s direct holding in Vietnam Airlines is set to rise to 86.42% by 2030 from the current level of 39.29%.
The state-owned investor, the State Capital Investment Corporation, already holds a stake of about 47% in the airline, according to LSEG data.
The plan also envisages a reduction in the state’s stake in Vietnam Rubber Group to 75% from 96.77%, maintaining its majority control.
Vietnam had 695 state-owned enterprises by the end of 2025, including 497 wholly owned by the government, local media reported.
Reuters
