Vietnamese state-owned enterprises after equitization: Performance, emerging issues, and policy recommendations

Equitization is the sole method of state-owned enterprise reform in Vietnam. This paper analyzes the results of a survey on the performance of equitized enterprises. Its findings clarify the causes of pre- and post-equitization differences and the impact of ownership structure on the performance of equitized enterprises, focusing on arising problems in the post-equitization period, particularly those regarding corporate governance. Based on the results of survey, the paper also provides some policy recommendations to speed up the equitization process and enhance post-equitization corporate governance in the years to come.