The country’s economy has expanded at an average of 6.5% per year since 2000. Infrastructure investment has lagged behind.
Consensus behind certain reforms has emerged in recent years. For example, more than 250 state-owned enterprises (SOEs) were listed in 2014-15 – ten times the number partially privatized in 2011-12 (25).
The government had planned to list or equitise – the Vietnamese term for privatization – some 531 SOEs over the 2011-15 five-year plan.
Notable equitisations include December’s listing of a stake in Airports Corporation of Vietnam (ACV) – which operates the country’s airports – and Hai Phong Port’s IPO in 2014.
Instead the approach being taken is to attract a strategic investor at the corporate – rather than project – level. That route is being taken in the rail, air, port and power sectors.
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