Ho Chi Minh City plans Becamex stake reduction from 95.44% to above 65%
The reduction is planned before 2030, while state holdings in 11 other enterprises would remain at their existing levels.
Becamex Group is set for a reduction in state ownership under a restructuring plan approved by Ho Chi Minh City's People's Committee. The city plans to lower its stake from 95.44% to above 65% before 2030.
Covering 2026-2030, the programme applies to enterprises under municipal management that are wholly state-owned or have state investment. It leaves ownership levels unchanged at 11 businesses, among them Ho Chi Minh City Finance and Investment State-owned Company (HFIC), Saigon Water Corporation, Saigontourist and Saigon Trading Group (SATRA).
Becamex, listed on HoSE as BCM, recorded a 65% revenue decline to ₫1.66 trillion in the first six months of 2026. Net profit dropped 83% to ₫320 billion.
The group also jointly develops the Vietnam-Singapore Industrial Park (VSIP) network with Sembcorp Development, a subsidiary of Singapore's Sembcorp Industries. Their collaboration dates to 1996, when VSIP developed its first industrial park in Binh Duong, the former province now incorporated into Ho Chi Minh City.
The VSIP portfolio comprises 20 industrial parks spanning 12,000 hectares across Vietnam. A financial disclosure submitted to the Hanoi Stock Exchange showed that its net profit for the first half of 2026 was ₫976.6 billion, a year-on-year fall of 13.3%.
