World Economy

Vietnam to Accelerate Privatization

Vietnam to Accelerate PrivatizationVietnam to Accelerate Privatization

Vietnam plans to set up a working group to help spur share sales of state enterprises as the government takes steps to bolster a flagging privatization program and drive economic growth. “It will help state companies sell stakes more successfully,” Dang Quyet Tien, deputy general director of the finance ministry’s corporate finance department, said, according to Bloomberg report. “What’s the point of pushing the IPOs out only to see them fail; we aim to avoid the failures that happened earlier this year.” Prime Minister Nguyen Tan Dung had outlined a revamp of state enterprises to spur growth in an economy on course to expand below 7% for a seventh straight year.