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Vietnam: Criterias for classification of state-owned enterprises and state-invested enterprises

Thúy Trọng

10:16, 03/07/2021

On July 02 2021, the Prime Minister of Vietnam issued Decision No. 22/2021/QĐ-TTg on criteria for classification of state-owned enterprises and state-invested enterprises undergoing ownership conversion, restructuring and divestment in 2021 - 2025.

According to the Decision No. 22/2021/QĐ-TTg of the Prime Minister of Vietnam, criterias for classification of state-owned enterprises and state-invested enterprises are stipulated as following:

- Classification according to business lines (promulgated together with the Decision No. 22/2021/QĐ-TTg).

- For enterprises not operating in the business lines under the classification criteria mentioned in Clause 1 Article 3 of the Decision No. 22/2021/QĐ-TTg, one of the following criteria may be adopted to carry out ownership conversion, restructuring and divestment:

+ Cement production which holds a market share of at least 30%, including extraction of raw materials from raw material mines in areas of strategic importance to national defense and security;

+ Growing and processing rubber or coffee in strategic areas; mountainous areas; remote areas; isolated areas in association with national defense and security;

+ Enterprises manufacturing and supplying public services and products whose revenue from providing public services is at least 50% of their total revenue for 03 consecutive years before the proposed date of conversion;

+ Enterprises which play an important role in national defense and security.

Decision No. 22/2021/QĐ-TTg of the Prime Minister of Vietnam takes effect from August 19 2021 and replaces the Decree No. 58/2016/QĐ-TTg.

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