More than 90 percent of Nha Trang Port Company's stakes went unsold after its IPO in May, while Quang Ninh Port Company and Haiphong Port Company sold only six to seven percent each. Vietnam National Shipping Lines (Vinalines) IPO also witnessed disappointing results.
However, the Ministry of Transport has ordered Vinalines to build a plan to reduce State capital invested in these firms. All seaports in the country will be equitised. The State will only retain majority stakes in seven big ports: Haiphong, Quang Ninh, Danang, Saigon, Can Tho, Nghe Tinh and Cam Ranh.
Vietnam Oman Investments Joint Stock Company, a joint venture between the State of Oman and the State Capital Investment Corporation of Vietnam, recently sought to buy nearly 20 percent of State capital in Haiphong Port Company.
