Cscm

With this deal, the Japanese firm has become the third-largest shareholder at Petrolimex with a total share amount of 63 million, or a 4.87% stake.

The contract is set to valid from January 1,2021 to December 31, 2021, with the value of VND2.82 trillion (US$122.47 million).

In a market-based economy, all economic actors compete fairly with each other, while state-owned enterprises (SOEs) are independent and accountable for their own performance, Deputy Prime Minister Truong Hoa Binh has said.

In 2020, Vietnam Airlines operated 96,500 flights, down 48% year-on-year amid the Covid-19 crisis.

The investment would be a long-term one as profit is not expected in a short period of time.

The responsibility of state-owned enterprises (SOEs) is to be pioneer in applying technologies and supporting socio-economic sustainable development.

In Vietnam, three major mobile carriers Viettel, Vinaphone and Mobifone decided against using Huawei’s 5G technologies, with the latter two under the management of the Committee for State Capital Management (CSCM).