U.S.-based companies are eagerly circling soon-to-be-privatized Vietnamese state owned companies

U.S.-based companies are eagerly circling soon-to-be-privatized Vietnamese state owned companies. Their representatives “said that they are seeking information and opportunities to increase their investment and join the ongoing privatization/equitization of state-owned enterprises (SOEs) and the capital hikes of banks in Vietnam. They made their remarks at a dialogue held by the Vietnam-Singapore Friendship Association (VSFA) and the US-ASEAN Business Council (US-ABC) in Singapore on November 26-29. The event was co-chaired by former U.S. Ambassador to Vietnam Michael Michalak and Dr. Vu Viet Ngoan, chairman of VSFA-head of the prime minister’s advisory group. Present at the event were representatives of the U.S. firms such as Visa, Facebook, Paypal, Metlife, Agoda, AIG, MasterCard and the executives from Vietnamese firms including VPBan, MBS, TPBank, Vietcombank, Saigon Securities Inc., VNPAY, and Petrolimex.” [Vietnam News Brief Service, 30 November 2018].