The private sector made up 97% of total enterprises nationwide reporting business results as of end-2018, with 43.7% of the sector generating profits and 48.6% suffering losses.

State-owned enterprises supply energy, transport, and water to millions in Asia and the world. Managing them better will help consumers and governments alike.

Some large SOEs are facing difficulties in valuation, mainly due to complicated financial situations, which causes delays in the privatization process.

Hanoi eyes 10% annual growth of business creation, or 30,000 per year, while the SMEs would create 150,000 new jobs annually during the next five years.

Mobifone, Electricity Vietnam (EVN), and Viettel, three state-owned enterprises (SOEs) that represent three economic sectors of telecommunication, energy and defense industry, are selected to take part in the first stage of the project.