Deputy PM meets BNP Paribas executives over equitisation

Wednesday, Apr 19, 2017 14:17

A furniture production line of Hoa Phat Company. It’s reported that many SOEs have been equitised but only 8 per cent of State capital was sold to the public. — VNA/VNS Photo Tran Viet

Deputy Prime Minister Vuong Dinh Hue has appreciated Paris-based BNP Paribas bank’s recommendations as significant to the Vietnamese Government in making and refining policies and laws pertaining to equitisation and divestment at State-owned enterprises (SOEs).

The recommendations were made at a meeting on Tuesday between Hue and head of BNP Paribas for the Asia-Pacific region Christian De Charnace, held in Ha Noi.

Christian De Charnace gave advice on how to evaluate SOEs and strategic investors, in addition to the role of consultants in SOEs’ equitisation and classification of shares, among others.

He said his bank had participated in consulting for many privatisation deals of SOEs in France and was the consultant for Vietnamese low-budget Vietjet Air’s initial public offering.

The bank’s total outstanding loan in Viet Nam is currently some US$300 million.

At the meeting, Hue said many SOEs had been equitised but only 8 per cent of State capital was sold to the public. Besides the equitisation, Viet Nam needed to accelerate the sale of State capital in the enterprises that were operating in areas the State did not need to control.

The Deputy PM also expressed hope that the bank stands ready to provide consultancy for the Vietnamese Government, ministries and sectors in related fields.

In the Asia Pacific region, BNP Paribas offers a wide range of financial services, covering corporate and institutional banking, wealth management, asset management and insurance, as well as retail banking and consumer financing, through strategic partnerships. — VNS

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