Ho Chi Minh City to restructure state capital and divest in Becamex Group

The Ho Chi Minh City People's Committee has approved a plan to restructure state capital in state-owned enterprises for the 2026–2030 period. A key component of this plan involves reducing the state's ownership in Becamex Group to a level above 65%.

The restructuring includes the transfer of ownership for several entities. Four companies, including Saigon Transport Mechanical Engineering and Liksin Industry-Printing-Packaging, will be transferred to the Saigon Industrial Corporation. Additionally, 32 units are slated for merger to establish a new urban service corporation, with some mergers expected before 2029.

Other planned transfers include moving ownership of companies like Ben Thanh and various tourism entities in Ba Ria - Vung Tau to Saigon Tourism Corporation. Furthermore, seven enterprises, including Saigon Jewelry Company (SJC) and Saigon Pharmaceutical, will be transferred to the Ho Chi Minh City State Financial Investment Company.