The municipal People's Committee has approved a state-capital restructuring plan for the 2026-2030 period, targeting state-owned enterprises and companies with state investment under its management.

Under the plan, the municipal government's ownership in Becamex Group (HoSE: BCM), will be reduced to over 65% before 2030.

The plan also calls for 11 other enterprises to maintain their current state ownership ratios during 2026-2030. They include Ho Chi Minh City Finance and Investment State-owned Company (HFIC), Saigon Water Corporation, Saigon Industry Corporation, HCMC Urban Railway No. 1 Company Limited, Binh Duong Lottery Company Limited, and Ba Ria-Vung Tau Lottery Company Limited.

Other companies covered by the unchanged-ownership plan include Saigon Trading Group (SATRA), Saigontourist, Tan Thuan Industrial Promotion Company, Service Company to Foreign Missions (FOSCO), and Saigon Zoo Co., Ltd.

For the first six months of 2026, BCM's revenue dropped 65% to VND1.66 trillion ($63.33 million), while net profit fell 83% to VND320 billion ($12.21 million).

Becamex is a major partner of Sembcorp Development, part of Singapore's Sembcorp Industries, in Vietnam. The two sides have co-developed the Vietnam-Singapore Industrial Park (VSIP) network since 1996.

VSIP recorded net profit of VND976.6 billion ($37.46 million) in the first half of this year, down 13.3% year-on-year, according to its financial disclosure filed with the Hanoi Stock Exchange (HNX).

VSIP developed its first IP in the former province of Binh Duong, which is now part of Ho Chi Minh City, in 1996. Its portfolio now comprises 20 IPs covering a combined 12,000 hectares across Vietnam.