The State Capital Investment Corporation (SCIC) is likely to divest from FPT Telecom early next year, a Ministry of Finance official said (Photo: FPT Telecom)
Hanoi (VNA) - The State CapitalInvestment Corporation (SCIC) is likely to divest from FPT Telecom early nextyear, a Ministry of Finance official said.
Dang Quyet Tien, deputy director of the ministry’sCorporate Finance Department, told dantri.com.vn recently that the move is partof the SCIC’s efforts to withdraw capital from several major enterprises inearly 2017.
The SCIC will sell its entire 50.16 percentstake in the telecommunications firm, which registered charter capital of morethan 1.37 trillion VND (61.99 million USD) with the Vietnam SecuritiesDepository.
The depository certified FPT Telecom as listingabout 1.37 million shares, coded FOX with a face value of 10,000 VND each, onthe Unlisted Public Company Market earlier this month.
FPT Telecom’s third-quarter financial reportsaid the company earned 4.92 trillion VND in net revenue from sale of goods andservices in the first nine months of this year, up 20 percent over the same periodlast year.
The firm earned 848.46 billion VND in pre-taxprofit in the nine months, a year-on-year increase of 5 percent.
According to Thoi bao Kinh te Viet Nam (VietnamEconomic Times), FPT Telecom has paid dividends in cash at a rate of 40 percentevery year – a “golden” level in the local market.
FPT Telecom also contributed about 40 percent tothe annual profit of its parent firm – technology giant FPT, which holds a45.64 percent stake in the subsidiary.
Earlier this year, the Government urged the SCICto withdraw capital from 10 major businesses, including FPT Telecom, Bao MinhInsurance Corporation, Vietnam Infrastructure Investment & Development JSC,Ha Giang Mineral Mechanics JSC, and Vietnam Dairy Products JSC (Vinamilk).
The remaining five are Vietnam NationalReinsurance Corporation, Tien Phong Plastic JSC, Binh Minh Plastic JSC, SaGiang Import Export Corporation and FPT.
The SCIC recently auctioned a 9 percent stake ofVinamilk on the HCM City Stock Exchange. It sold a stake of 5.4 percent toforeign investors, gaining more than 11.28 trillion.-VNA
Deputy Prime Minister Vuong Dinh Hue urged the State Capital Investment Corporation (SCIC) to strengthen operations for more effective use of State assets on April 26.
The Ministry of Finance has planned to boost the equitisation of State-owned enterprises (SOEs) through rating the publicity and transparency of the enterprises’ financial statements.
The Ministry of Transport divested from several companies following Government directives, gaining more than 2 trillion VND (88.9 million USD) during the first half of this year.
Prime Minister Nguyen Xuan Phuc has emphasised the need to publicly choose qualified consultant firms in order to prevent state capital losses caused by wrong stake valuations.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.