Classification of state-owned enterprises implementing ownership conversion and restructuring

Enterprises that carry out ownership conversion and divestment, with the State holding 65% or more of charter capital, operating in 7 sectors and fields of management and exploitation of airports and airfields.

PV Power leaders and engineers officially put Nhon Trach 3 Power Plant into operation and connected to the national grid. (Photo: VNA)

Deputy Prime Minister Ho Duc Phoc signed Decision No. 2216/QD-TTg dated October 7, 2025 of the Prime Minister announcing the Prime Minister's Decision on criteria for classifying state-owned enterprises and state-owned enterprises carrying out ownership conversion, restructuring, and state capital divestment in the 2021-2025 period to continue to be effective.

Specifically, the Prime Minister announced Decision No. 22/2021/QD-TTg dated July 2, 2021 of the Prime Minister on criteria for classifying state-owned enterprises and state-owned enterprises carrying out ownership conversion, restructuring, and divestment in the period 2021-2025 (amended and supplemented by Decision No. 13/2025/QD-TTg dated May 14, 2025 of the Prime Minister) continues to take effect from August 1, 2025 until a replacement or repeal document is issued, but no later than December 31, 2025.

Decision No. 2216/QD-TTg clearly states that the application of Law No. 68/2025/QH15 and Decision No. 22/2021/QD-TTg, Decision No. 13/2025/QD-TTg is implemented according to the provisions of Clause 3, Article 58 of the Law on Promulgation of Legal Documents 2025 (in case legal documents have different provisions on the same issue, the document with higher legal effect shall be applied).

Decision No. 2216/QD-TTg takes effect from October 7, 2025. In the implementation process, if there are any difficulties or problems, agencies and units shall report to the Ministry of Finance to preside over and coordinate with relevant ministries and branches for guidance and handling or submit to competent authorities for consideration and direction. The Ministry of Finance, ministries, branches, government agencies, and People's Committees of provinces and cities, as representative agencies of owners, are responsible for controlling and supervising enterprises to comply with regulations during the transition period, avoiding loss and waste.

Decision No. 22/2021/QD-TTg of the Prime Minister (amended and supplemented by Decision No. 13/2025/QD-TTg dated May 14, 2025 of the Prime Minister) stipulates criteria for classifying state-owned enterprises and state-owned enterprises that carry out ownership conversion, restructuring, and divestment in the period of 2021-2025 (classification criteria) as a basis for reviewing the Plan to maintain single-member limited liability companies, ownership conversion (including the form of equitization, sale of the entire enterprise, conversion into a limited liability company with two or more members), restructuring (including the form of consolidation, merger, division, separation, dissolution, bankruptcy), and divestment of state-owned enterprises and state-owned enterprises in the period of 2021-2025 (Enterprise restructuring plan in the period of 2021-2025).

Agricultural and forestry companies; enterprises directly serving national defense and security and enterprises combining economic activities with national defense and security; State Capital Investment Corporation, Vietnam Debt Trading Corporation, Vietnam Stock Exchange, Vietnam Securities Depository and Clearing Corporation shall carry out arrangements according to other regulations of the Government and the Prime Minister.

The Decision clearly states the classification criteria by industry and sector for state-owned enterprises and enterprises with state capital carrying out ownership conversion, restructuring and divestment as follows.

Enterprises with 100% charter capital held by the State operating in 13 sectors and fields of surveying and mapping for national defense and security; production and trading of industrial explosives and provision of blasting services with scope of operation throughout Vietnam; transmission, regulation of the national power system and management of the distribution grid, construction and operation of large power plants of special importance to the economy, society, national defense and security according to the provisions of the law on electricity; lottery business; printing, minting money, producing gold bars and gold souvenirs; policy credit for socio-economic development, deposit insurance and purchase and sale, handling of bad debt associated with restructuring the system of credit institutions;...

Airplanes at Noi Bai Airport. (Source: VNA)

Enterprises that carry out ownership conversion and divestment, with the State holding 65% or more of charter capital, operating in 7 industries and fields of airport and airfield management and exploitation; airport area exploitation services; large-scale mineral exploitation according to current regulations on mineral mine scale classification; finance, banking (excluding insurance, securities, fund management companies, finance companies and financial leasing companies)...

Enterprises that carry out ownership conversion and divestment, with the State holding over 50% to under 65% of charter capital, operating in 7 industries and fields of exploitation, production, supply of clean water and drainage in urban and rural areas; production of basic chemicals; air transport; petroleum import hubs with a market share of 30% or more, playing a role in ensuring major balances of the economy, stabilizing the market; cigarette production...

For enterprises not operating in the industries and fields listed in the above Classification Criteria, use one of the following criteria to carry out ownership conversion, reorganization, and divestment:

- Cement production accounts for 30% or more of the market share, including exploitation of raw material mines in areas important to national security and defense.

- Growing and processing rubber or coffee in strategic areas; mountainous areas; remote areas; and isolated areas associated with national defense and security.

- Enterprises producing and supplying public products and services with the ratio of revenue from public activities to total revenue of the enterprise in 3 consecutive years immediately preceding the time of consideration for conversion reaching 50% or more.

- Enterprises with cultural value; historical value; architectural value; playing an important role in national defense and security; performing political tasks or socio-economic development of the industry and locality in each period./.

Source: https://baolangson.vn/phan-loai-doanh-nghiep-nha-nuoc-thuc-hien-chuyen-doi-so-huu-sap-xep-lai-5061200.html